Performativity Funny

March 2, 2007

A funny one on performative utterances:

“They are marketed as “intimate conversations” with Alan Greenspan, and groups pay about $150,000 to hear his economic outlook.

But on Thursday, for the second time this week, these private chats went public, jolting financial markets around the world and upstaging Ben S. Bernanke, Greenspan’s successor as chairman of the Federal Reserve.

First on Monday and then again on Thursday, Greenspan upset stock markets merely by uttering the word “recession” and saying that one might but probably would not occur by the end of this year.”

The complete news: Herald Tribune (March 2, 2007).


2 Responses to “Performativity Funny”

  1. danielbeunza Says:

    interesting thought: how responsible was Greenspan for the market crisis? as usual (see Shiller’s work on the 1987 crash), it is not easy to tease out the different factors… i guess China played a role. so here’s my question — what research design would help one tell them apart? — d.

  2. Yuval Says:

    I think that it’s a very interesting question, Daniel. A quick reaction: I cannot think of a good methodological principle that would help us to separate the Greenspan effect from the Chinese one; and that for a very simple reason – reflexivity of the actors – the Chinese also listen to Greenspan…

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