For a very large part of 20^th century, we may recall, there existed capitalist market-oriented economies and socialist planning-oriented economies. 21stcentury is however witnessing that all modern economies are of a more mixed sort. Though there exists full spectrum of mixed economies in the world. For instance, onemay find that government expenditure as a proportion of the gross domesticproduct may fluctuate from 20 per cent to 70 per cent in different countries and yet division between the regional/local and national governments may differ greatly. Oneshape and one size will hardly fit all, one may be likely to argue, as different countries areat different stages of development. As all fully developed men aren't of same statureand not of same complexion, different countries will continue to differ from eachother at any point of time. Yet there is some tendency of convergence in economies,which is true about role of government intervention in the economy.