statism

noun stat·ism \ ˈstā-ˌti-zəm \

Definition of statism

: concentration of economic controls and planning in the hands of a highly centralized government often extending to government ownership of industry
  • … although dictator Augusto Pinochet made it the first Latin American country to steer away from statism in 1982, Chile struggled for seven years before the economy finally soared.
  • —Marc Levinson with Tim Padgett
  • Russia badly needs basic economic reform, not the roller-coaster-like changes between "free market" austerity and old-style statism.
  • Forbes

Recent Examples of statism from the Web

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'statism.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of statism

1890

in the meaning defined above

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