Statism

From Libertarian Wiki

Statism (or etatism) is a term that may refer to either one or both of the following:

• A major state, including government policy, role in the direction of the economy, both directly through state-owned enterprises or other machinery of government and indirectly through the state-directed economic planning of the overall economy.
• A political viewpoint "that sovereignty is vested not in the people but in the national state, and that all individuals and associations exist only to enhance the power, the prestige, and the well-being of the state. The fascist concept of statism, which as seen as synonymous with the concept of nation, and corporatism repudiates individualism and exalts the nation as an organic body headed by the Supreme Leader and nurtured by unity, force, and discipline."

Statism is sometimes used to refer to state capitalism or highly regulated market economies with large amounts of government intervention, and also to refer to state socialism or co-operative economic systems that use the state, through nationalization, as a means of running industry in the interest of the majority.