Updated: Aug 20, 2021

The willingness of the state to intervene in the economy, either systematically or in an ad hoc manner. This can be contrasted with iaissez-faire, in which there is a preference by the state for non-intervention.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
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James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.