FINANCIAL ENGINEERING, NOT ECONOMIC PHOTOGRAPHY

Chris Clarke

Journal of Cultural Economy, 2012, vol. 5, issue 3, 261-278

Abstract: In recent years, significant studies of finance have explored, on the one hand, the ways in which a specific financial theory might act as a ‘performative utterance’ which through its use makes itself true and, on the other hand, the ways in which discourses and practices of finance might act as continuous performatives that constitute key categories of finance and the financial subject. On first glance, the idea of self-actualising financial theory might seem closer to J. L. Austin's original conception of the performative utterance. However, in this article, I argue for the need to reclaim the Austinian heritage for the broader and more generic understanding of performative finance as well. In this sense, I suggest, a return to Austin reveals the importance of maintaining a focus not only on the potential performance of financial theory, but also those discourses and practices of finance that make up the deeper layers of performativity. I use questions about the role of financial engineering in the sub-prime crisis to illustrate that it is only through a conception of performative finance as self-actualising theories and as discourses and practices that the often obscured layers of financial engineering in society can be fully understood.

Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://hdl.handle.net/10.1080/17530350.2012.674964 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:jculte:v:5:y:2012:i:3:p:261-278

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RJCE20

DOI: 10.1080/17530350.2012.674964

Access Statistics for this article

Journal of Cultural Economy is currently edited by Michael Pryke, Joe Deville, Tony Bennett, Liz McFall and Melinda Cooper

More articles in Journal of Cultural Economy from Taylor & Francis Journals
Bibliographic data for series maintained by ().