Performative Trumponomics and Financial Market

DOI: 10.20542/0131-2227-2020-64-2-24-33

V. Milovidov (,
MGIMO University, 76, Prosp. Vernadskogo, Moscow, 119454, Russian Federation;
Russian Institute for Strategic Studies, 15B, Flotskaya Str., Moscow, 125413, Russian Federation

Abstract. The article analyzes the impact of messages by US President D. Trump in the Twitter on economic dynamics. The author defines the features of Trump’s tweet style and reveals the concept of performativity of the policy he implements. The performativity of Tramponomics is appeared in the effective, often aggressive, goal focused verbal interventions generated by the head of the state. They are typically a) consisting of an announcement of the most significant decisions and initiatives in the field of both political and economic transformations, b) accompanying the adoption of relevant decisions of the US administration, c) keeping electorate’s attention towards the most important Trump’s policy topics, turning the last ones into a kind of “ideological markers” of Tramponomics. The impact of Donald Trump’s verbal interventions is analyzed based on the dynamics of the popularity of Google user queries semantically related to Trump’s tweets. The approach helps to find out how much such tweets are reflected in the mass consciousness and, consequently, in mass economic behavior. Analyzing this empirical data, the author is setting the goal to prove the hypothesis that the power of influence of the American President’s tweets on economic dynamics is heavily dependent on the level of popular attention to these messages. The author shows that because of a) the combination of tweets, b) well-articulated policy goals and c) performative style of expressing the messages addressed to the public (primarily to key electorates) Trump’s verbal interventions became a sort of exponentially scalable events (ESEs). The author defines the ESEs as such events (or informational signals) which are manifested on the financial market and in economy as a whole and can lead to large-scale consequences both for individuals and the entire economy. These events occur periodically and are characterized by the distinctness against the background of other events, ability to influence the development of these or that trends, to provoke a sequential chain of changes, when each subsequent event enhances the impact of the previous one. I.e., their results are exponentially scaled.

Keywords: Trumponomics, performativity of economics, verbal interventions, twitter, exponentially scalable events, financial markets, narrative economics, social networks, economic dynamic


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For citation:
Milovidov V. Performative Trumponomics and Financial Market. World Eonomy and International Relations, 2020, vol. 64, no. 2, pp. 24-33.

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