The performativity, performance and lively practices in financial stability press conferences

John Hogan Morris

Journal of Cultural Economy, 2016, vol. 9, issue 3, 245-260

Abstract: Contributing to current debates about financial performativity, this article seeks to explore the multiple and overlapping layers of performativity within central banking. The specific focus is upon the press conferences of the Bank of England, which coincide with the release of their Financial Stability Reports and results of their stress testing exercises. Three positions in the debate about financial performativity are identified and outlined -- namely, ‘Austinian’, ‘generic’, and ‘layered’ performativities. Analysis of the transcripts and video footage of the press conferences shows that both Austinian and Generic performativity are at work in the ‘layered performances’ of financial stability by the Bank: the manner in which technical devices affect the economy intersects with the way reiterative practices bring about the effect they name. Moreover, drawing on the writings of Derrida, Deleuze and Sedgwick on iterability, difference and performativity, the article analyses the disruption, creativity and drama that is also present in the central bank's press conferences. The ostensible production of financial stability by the Bank is thus shown to draw attention to an additional layer of financial performativity that has been previously neglected in cultural economy research -- that which I group together under the umbrella term of ‘lively practices’.

Date: 2016
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DOI: 10.1080/17530350.2015.1136831

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