The structures of uncertainty: performativity and unpredictability in economic operations

Abstract

Abstract The paper reflects on the presuppositions and consequences of the concept of performativity (understood as the involvement of the observer in the objects and projects he/she describes). The paper proposes a broader notion of performativity, one that not only concerns theory but is also extended to the entire economy, which observes itself in all of its operations. This conception has the advantage of being connected with critical approaches inside economics, which highlight the central role of uncertainty and surprise. It can explain how and why performativity turns into counter-performativity and how financial operators exploit uncertainty when orienting their behaviour, expecting and using the unpredictability of the future.