Towards a better understanding of metaphorical networks in the language of economics: The importance of theory-constitutive metaphors

Abstract

Many researchers on metaphors in the field of economics have shown interest in the press coverage of economic events; some have included the discourse of textbooks, research articles or businesses in their investigations, and all have underlined frequent references to the economy as a machine or a human being. In this paper, I will endeavour to show how important it is to consider the recurring networks of organic or mechanistic metaphors in connection with theory-constitutive metaphors in economics. The diachronic perspective will show that metaphors can be seen as a reflection of the evolution of economic thinking over centuries, and can thus offer new insight into the field of economics. The heuristic function of metaphor will be discussed at different levelsthose of economic thinkers, ESP teachers and students. I will argue that, as far as terminology is concerned, many a metaphor that is considered as dead is actually just dormant and can be revived at any time to give birth to new metaphors branching out. Metaphors that seem to lose ground, disappear or re-surface, are worth paying attention to as they may reflect a turning point in theory, and spur new approaches to economic problems. In this respect, I will venture to plead for an observatory of metaphors, modelled on neology observatories, with a view to monitoring the emergence of new metaphors. Metaphor could then either be considered as a motor or a barometer of scientific progress and social evolution as well.

Inflation Metaphor in the TIME Magazine Corpus

“…The recurring networks of organic or mechanistic metaphors in connection with theory-constitutive metaphors in economics have been investigated from a historical perspective (cf. Radman, 1997;Mouton, 2012;Resche, 2012). This study confirms previous studies in that organic and mechanical are still dominant metaphors.…”

“…According to Resche's (2012) survey, the French economist Quesnay's diagram has inspired other flow diagrams, based on the analogy with the circulation of blood in the human body. Since then, the liquid element has become natural when dealing with money in terms of inflows and outflows of capital, pools of liquidity, or fluctuations.…”

Money metaphors in English and Romanian. A Comparative Approach

“…In her study Towards a better understanding of metaphorical networks in the language of economics: The importance of theory-constitutive metaphors, Resche (2012) dwells on economic and business metaphors. She believes that liquid metaphors are fully exploited when dealing with money.…”

“…She believes that liquid metaphors are fully exploited when dealing with money. Resche (2012) identifies and analyses the metaphorical networks of the European monetary union before the Euro was born as a marriage, a journey, a club, a construction, religion, a guest, transport, a building.…”

Dénominations disciplinaires et nouveaux contours d’un domaine spécialisé : le cas de la science économique

“…Pour certaines de ces sciences, les liens avec l'économie ne sont pas récents, mais ont connu des hauts et des bas, comme le souligne l'analyse des deux grandes veines métaphoriques qui parcourent l'histoire de la pensée économique : la veine mécanique, inspirée de la physique mécanique, et la veine biologique (Resche 2012). Parmi les penseurs théoriciens, il y a effectivement eu bon nombre d'économistes qui avaient reçu une formation d'ingénieurs, et qui, pour asseoir la réputation scientifique de la science économique, ont largement emprunté aux concepts de la physique mécanique comme le prouvent des termes comme equilibrium, force, leverage, velocity, deceleration, monetary instruments, mechanisms, etc.…”