The performativity thesis and the interactions between economic theories and social reality

Author:

Neris Junior Celso Pereira1ORCID,Fucidji José Ricardo2ORCID,Almeida Rafael Galvão de3ORCID

Affiliation:

1. Universidade Estadual Paulista, Brazil

2. Universidade Estadual de Campinas, Brazil

3. Universidade Federal de Minas Gerais, Brazil

Abstract

Abstract Originally proposed by philosopher of language John Austin, and later adapted by other social sciences, the performativity thesis has been known as a critique of the homo economicus of mainstream economics. The performativity of economics is the idea that economics gives birth to activities and markets in the economy (rather than merely describe or interpret them). This paper reviews arguments for and against performativity as a useful way of thinking about the economics-economy relationship. Following this survey, we put forward our interpretation, viz., an interactive approach to this subject. By doing so, we argue for its epistemological relevance for economic methodology, i.e., for understanding the relationship between theories and economic models and the events in the economy. Furthermore, we claim that because they are embedded in social reality, mainstream economic theories occupy a particularly resilient position.

Publisher

FapUNIFESP (SciELO)

Subject

General Economics, Econometrics and Finance

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Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Financial performativity and financial security;Finance and Credit;2023-08-30

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