Definition, Meaning & Synonyms
economism
noun
/ɪˈkɒn.ə.mɪ.zəm/
Definition
Economism is the belief that economic factors or principles are the primary determinants of social and political phenomena.
Examples
- Many critics argue that economism reduces complex social issues to mere economic calculations.
- In debates about public policy, economism often overlooks the cultural and ethical dimensions involved.
- Economism can lead to a narrow view of human behavior, focusing solely on financial incentives.
Meaning
It emphasizes the importance of economics over other influences in decision-making processes and the understanding of societal dynamics.
Synonyms
- Economic determinism
- Economic reductionism
- Fiscal view
