fiscalism

noun

1. uncountable The idea that taxation should form a central part of a government's economic policy. Fiscalism is a necessary consequence of the historical development of the system of taxation.
2. broadly, uncountable Excessive, oppressive taxation.
3. uncountable The belief that fiscal policy should function as the primary macroeconomic stabiliser (e.g. for controlling inflation), often associated with the IS–LM model. Hereby it will become clear how Keynesianism, a doctrine appealing to the monetary theorist JOHN MAYNARD KEYNES, soon converted into fiscalism, a position ascribing stronger effects to fiscal than monetary policy – and, in the extreme, denying the latter all real and nominal effects.