Siege Economy


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Siege Economy

An economy under such heavy government regulation that it cannot function properly. Examples of circumstances that may result in a siege economy include excessive taxes or laws that prevent growth. The appropriate amount of government intervention in an economy remains highly controversial.
References in periodicals archive ?
Yesterday Malaysia's Prime Minister, Dr Mahathir Mohamad, was hosting a conference to celebrate the great Asian recovery and justifying the siege economy he decreed in Malaysia.
39) For the constituents they served, the improvisations of local bureaucrats ameliorated the worst effects of the siege economy.
Hennessy cites approvingly the experience of World War II, when Whitehall successfully drafted in squads of outsiders to help run a siege economy.