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English definition of “statism”

statism

noun [U]
 
 
/ˈsteɪtɪzəm/ POLITICS, ECONOMICS
the principle that the government should own or control most of a country's industry and economy: Preliminary plans - compromising between privatization and continued statism - call for all businesses to be placed under independent holding companies.
(Definition of statism from the Cambridge Business English Dictionary © Cambridge University Press)
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