Objective/Context:

To advance in the conceptualization of the State-bourgeoisie relationship, the paper returns to a classic debate in the Marxist tradition on the capitalist State.

Methodology:

In methodological terms, we carry out a critical analysis of the works of Ralph Miliband and Nicos Poulantzas -especially on the distinction of class power and State power, relative autonomy and State intervention in the economy- and we revisit the criticism of John Holloway. With this, we seek to understand the relationship between State and bourgeoisie, to explain the economic and political crisis of the forms of the capital relationship in Argentina, in 1998-2001.

Conclusions:

We conclude that there is a crisis of a specific form of State intervention in the economy, based on the expansion of market discipline, and, with it, both State power and capital power erodes.

Originality:

The article analyzes the Miliband-Poulantzas debate and, based on this, builds an explanation of the 1998-2001 Argentinean crisis.