Performativity of Economic Systems: Approach and Implications for Taxonomy

30 Pages Posted: 19 Jun 2012

See all articles by Carsten Herrmann-Pillath

Carsten Herrmann-Pillath

Max Weber Center for Advanced Cultural and Social Studies

Date Written: June 19, 2012

Abstract

The paper proposes to ground the taxonomy of economic systems on the identification of strongly performative institutions as distinctive features. I analyse performativity on the basis of the Aoki model of institutions, enriched by current approaches to performativity, which I combine with Searle’s notion of a status function. Performativity is conceived as resulting from the conjunction of public representations (sign systems) and behavioral dispositions which channel strategic interactions among actors such that certain sets of institutions are reproduced recurrently. I apply this approach on the case of ‘financial capitalism’ and analyze three strongly performative institutions, the accounting standards (IFRS), managerial incentive systems and intellectual property rights.

Keywords: performativity, distributed cognition, status functions, taxonomy of economic systems, financial capitalism

JEL Classification: B41, P00

Suggested Citation

Herrmann-Pillath, Carsten, Performativity of Economic Systems: Approach and Implications for Taxonomy (June 19, 2012). Available at SSRN: https://ssrn.com/abstract=2087250 or http://dx.doi.org/10.2139/ssrn.2087250

Carsten Herrmann-Pillath (Contact Author)

Max Weber Center for Advanced Cultural and Social Studies ( email )

Nordhäuserstr. 74
Erfurt, 90228
Germany

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