You can make up your own word if you like. Or use dirigisme, which is the opposite of laissez-faire. I know what word was once used to define an economic system where the means of production are privately owned but under the control of the State.

The results are exactly the same in either case. A society run, badly, by political influence and government whims.

There's a difference between a government that makes traffic rules for society and one that decides what car you can drive, what color seats you can have, and how many people you can carry in the car. That's a metaphor, but I wouldn't be at all surprised if it became reality.