Restoring constitution: saving performativity from Mäki's critique. Issue 1 (2nd January 2020)

• Record Type: Journal Article
• Authors: Peled, Mickey
• Is Part Of: Journal of economic methodology. Volume 27:Issue 1(2020)
• Page Start: 51
• Page End: 65
• Publication Date: 2020-01-02
• Subjects: Performativity of economics -- social ontology -- constitution of social groups -- Black-Scholes -- economic institutions -- economic models; Economics -- Methodology -- Periodicals; 330.072
• DOI: 10.1080/1350178X.2019.1639787
• Languages: English
• ISSNs: 1350-178X

Abstract

ABSTRACT: This paper aims to solve a fundamental critique of the research project of the performativity of economics. The critique by philosopher Uskali Mäki strikes the concept of performativity in a weak spot – its utilization of the notion of constitution, drawn from John Austin's philosophy of language. Accepting Mäki's critique implies a deterioration of performativity to a marginal field in economics studies, the opposite of the substantial stance it enjoys today. Using Brian Epstein's unique account of constitution's role in the ontology of social groups, this paper suggests an original solution to the critique that restores the legitimacy and importance of using constitution as part of performativity research. Furthermore, it offers a novel ontologically nuanced definition of performativity.