A deep change in the economic-financial structure has shocked in recent decades the relations between political and economic power, between the State and the economy. The post-war democratic constitutionalism had tried to fully realize the aspiration of the classical constitutionalism to rigorous control by the law not only of political power but also of economic power. Today, the free and unlimited movement of capital challenges the State and its regulatory function. This implies a clear regression of the law produced by the State representative institutions. Once the unrealistic temptation to rely on the hope of a world people has been removed, the question then is to imagine how the state law can be used for the globalized world government, perhaps returning to an international law which, although aware of the need for inter-state cooperation, in its deep logic it remains anchored to the Westphalian paradigm.