la·bor·ism \ˈlābəˌrizəm\noun (-s) 1.usually capitalized a.: the principles and policies of the Labour party b.: the Labour party or its members 2.: a system chracterized by policies and attitudes favoring a predominance of labor and its interests in economics and politics < laborism and not … imperialism is the policy of the latest stage of capitalism — J.A.Schumpeter >