Financial metaphors from CUP

Green shoots

What is it? Green shoots are the first signs of spring: the shoots of baby flowers, crops and other plants pushing up through the snow or the bare earth after the winter. The term has long been used as a metaphor for the first signs of economic recovery after an extended period of economic difficulty such as a recession. Why is it in the news? In the current economic crisis, journalists (along with everyone else) are looking for the beginning of the end, and have seized on good news stories (such as a rise in house sales or an increase in reported business confidence) as signs that recovery is on its way. A graph in The Economist (Recovery position, see below) shows a dramatic increase in the number of mentions of ‘green shoots’ in news stories in April 2009. Similarly, a search on Google News (http://news.google.co.uk/) will reveal numerous news articles containing the expression. However, another article in The Economist (A Glimmer of Hope, see below) points out the danger of being optimistic too early. Apart from the obvious danger of being disappointed later, optimism may lead to complacency, so business leaders and politicians may be tempted to avoid taking painful but necessary steps. Discussion: Is the global financial crisis coming to an end? What ‘green shoots of recovery’ are you aware of? What are the dangers of early optimism? Is optimism itself good for the economy? Language analysis: The image of ‘green shoots’ relies on the conceptual metaphors of RECESSION = WINTER and BUSINESS = A FARM. Get students to think of more metaphors within these conceptual metaphors (e.g. a bleak outlook, an economic thaw, the chill / dark days of recession, the freeze in the banking system; to nurture an economy, to sow seeds of growth, to reap the benefits of an investment, a cash cow). They could then try to find more such metaphors in the articles they read or they could invent their own. Where can I read about it? Bank of England reluctant to confirm green shoots, Independent, 23rd April 2009. Green shoots will take some nurturing, Times, 23rd April 2009.