The Evolution of Government Intervention in Economyfrom the Perspective of Public Law-Welfare to Post Regulatory Governments

State intervention in the economy has always been a challengingissues in schools of economy and Law.Welfare states, bydirect intervention in economy, took over most of the affairs and caused economic crisisin the West. To curb the downfall, regulatory states emerged, which sought to flourish and facilitate economic activities by adopting privatization policies and pursued the goal through extensive legislations in myriad areas with the hope to best regulate individual behaviors in the domain of economy. States also happened to grant and empower self-regulatory /autonomous bodies with legislative authorities which was the outset for the emerge of post-regulatory states. This article reviews the Intellectual developmentsconcerningthe extent to which States make intervention in economic affairs from the perspective of public law, through a comparative study ranging from welfare to post-regulatory governments.