statism
/ˈsteɪtɪzəm/ noun [U] POLITICS, ECONOMICSDefinition
› 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 noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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