Meaning of “statism” in the English Dictionary

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"statism" in Business English

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statismnoun [ U ]

uk /ˈsteɪtɪzəm/ us 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)