Economism, briefly, is the guarantee of the adequacy of the economy to its own reproduction without the necessary implication of other factors, or elements, such as the state, ideology, law, or subjectivity. Economism takes the lawlike nature of the economy as a given and understands its effects on other elements to be that of a simple linear cause. (Jason Read, The Micropolitics of Capital, 2003, p 23.)
Economism has been regarded as a false or deficient theoretical standpoint by most marxists including Vladimir Lenin. They hold that the economy is partly determined by "superstructural" forces such as ideology, politics, and culture.