Outline the importance of perception in Economics

The perception is a very important aspect of Economics, as it can bring significant changes both in a positive or in a negative way.
For example, if people perceive the economic state of the country as strong enough ( even though it is not really so) that may increase their confidence, they will tend to spend more, invest more, borrow more, businesses will produce more and eventually that will lead to the faster economic growth and the general economic state improvement.
That is one of the reasons for the governments to prevent their citizens from getting news and information from international sources as it is, for instance, in China.

On the other hand, an interesting example is the current financial crisis. People's perception of the economic situation was affected by media, which 'advertised' crisis wherever it was possible. Many advertisements like 'Credit Crunch? Everything is down by 20% now!' have appeared. People are afraid of losing their jobs, as 'their colleague's relative's friend was fined because of the credit crunch' and begin to panic. Some economists argue that this lack in confidence make the crisis worsen.
The proof for that is that even different policies such as VAT rate cut and interest rates cut did not really increase consumers' spending.

Another example is people's tastes and preferences. Switzerland banks are thought to be the 'safest', British higher education to be the best, Italian clothes as the most fashionable - all this things affect the world export and import, advertising etc.

feminism

Contrast liberal feminism, radical feminism amnd Marxist feminism.


Marxist feminists believe that capitalism and the power of classes predate sexual oppression. They claim that women discrimination exists because it benefits the capitalist society and that with the abolishment of class oppresion, sexual oppression will disappear as well.

Radical feminists, in contrast to Marxist feminists, see sexual oppression as a fundamental form of oppression, predating any other. In other words, they believe that woman is oppresed because of her sex and not as a member of a social class. Radical feminists see the reconstruction of the society including its values and norms as the only way of achieving their goals.

'Nevertheless, in contrast to liberal feminist framework, radical feminism is inclined to be suspicious of government intervention, perceiving the state itself as being intrinsically patriarchal, and also tends to focus on the politics of the private sphere, in particular sexuality, motherhood and bodies.'
(source)

While the two previous types of feminism are rather 'public' ( considering progress on the basis of the whole society) Liberal feminism is an individualistic form of feminism. Liberal feminists' way of achieving their goals lays through legislation and regulation, creating laws to support women equality to men. For example, equal pay, equal childcare duties, abortion rights etc.