Scrabble?! DIRIGISMES

Definitions of DIRIGISMES in various dictionaries:

Dirigisme or dirigism (from French diriger, meaning 'to direct') is an economic doctrine where the state exerts a strong directive influence in a market economy, designating a capitalist economy in which the state plays a strong directive, as opposed to a merely regulatory role, over economic affairs. As an economic doctrine, dirigisme is the counterpart to laissez-faire, stressing a positive role for state intervention in curbing productive inefficiencies and market failures. Dirigiste policies often include indicative planning, state-directed investment, and the use of market instruments (taxes and subsidies). The term emerged in the post-war era to describe the economic policies of the French economy, which included substantial state-directed investment, the use of indicative economic planning to supplement the market mechanism, and the establishment of state enterprises in strategic sectors of the French economy. It resulted in an unprecedented economic and demographic growth, leading to the coinage of the term Trente Glorieuses ("Thirty Glorious [years]"). The term has subsequently been used to classify other economies that pursued similar policies, most notably the East Asian tiger economies, and more recently the economy of the People's Republic of China. A related concept is state capitalism. Most modern economies can be characterized as dirigiste to some degree – for instance, the state may exercise directive action by performing or subsidizing research and development of new technologies, through government procurement (especially military) or through state-run research institutes.