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
