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Subjectivism is a philosophical tenet that accords primacy to subjective experience as fundamental of all measure and law. In extreme forms like Solipsism, it may hold that the nature and existence of every object depends solely on someone's subjective awareness of it. One may consider the qualified empiricism of George Berkeley in this context, given his reliance on God as the prime mover of human perception.
Metaphysical subjectivism is the theory that reality is what we perceive to be real, and that there is no underlying true reality that exists independently of perception. One can also hold that it is consciousness rather than perception that is reality (subjective idealism). This is in contrast to metaphysical objectivism and philosophical realism, which assert that there is an underlying 'objective' reality which is perceived in different ways.
This viewpoint should not be confused with the stance that "all is illusion" or that "there is no such thing as reality." Metaphysical subjectivists hold that reality is real enough. They conceive, however, that the nature of reality as related to a given consciousness is dependent on that consciousness. This has its philosophical basis in the writings of Descartes (see cogito ergo sum), and forms a cornerstone of Søren Kierkegaard's philosophy.