In order to promote the wealth of nations, what should be the relationship between the visible hand of the state and the invisible hand of the market?

The recent decline of social democracy in Europe during the last decade is one of the examples which seems to show that there is not anymore global alternative for a state regulation under the market in the globalisation context. The predominance of the market in political economy is not recent. Since Adam Smith and the classics, the concept of "minimal state" has always been much debated because of the normative definition of wealth. Does the wealth of nations mean economic growth, or in the contrary the development of infrastructures like an efficient education, health, or transport system? The fall of the communist bloc at the beginning of the 90's has showed that only the market economy can provide the necessary economic growth for the development of national wealth. Nevertheless it still appears that the market needs at least a basic state regulation in order to guarantee a fair competition in a sane social context. Consequently how to conciliate the economic growth that needs market efficiency and the necessary state regulation sharing and protecting the wealth of nations?