The title of this paper is The State and the Economy in the Time of Globalization, accordingly, and as the title says, the paper presents current globalization trends, above all economic, since globalization is primarily an economic process. Other factors of globalization, such as cultural and political globalization, have been presented, and a significant part has been referred to international institutions. The subject of research is the relationship between the state and economy and the globalization movements that affect them. The purpose of the research is to show the effects of globalization on the state and economy and try to find out who are the losers and winners in the whole process. The main hypothesis of the paper is that globalization has made a big difference between those on the economic bottom and those on the economic top and it has been confirmed. In the paper, especially in the part where data on economic inequality are presented, it is clear that the revenue and wealth of those at the top grows more and more over time. The situation with those at the bottom is not the case - there is a visible stagnation or almost negligible increase in revenue and wealth. The situation surrounding the auxiliary hypothesis, that is, that globalization causes the heterogeneity of the economic and political system is even clearer and we can say that is confirmed. The largest chapter in the paper is the one that deals with various international institutions. A large number of states, organizations, associations, companies, people, interests and opinions are today's reality.