dirigisme
/dɪrɪˈʒɪzəm/
noun
- An economic system or policy in which the government strongly directs or controls the economy, rather than leaving it entirely to free markets.
- After the war, France adopted a form of dirigisme to rebuild its economy quickly.
- The country's dirigisme led to state ownership of major industries like steel and energy.
- Critics argue that dirigisme can stifle innovation by limiting private enterprise.
Synonyms