Pricing the revolution: Financial analysts respond to the Egyptian uprising (Respond to this article at


  • Stefan Leins

    1. PhD candidate at the University of Zurich and a member of the Swiss Graduate Program in Anthropology. His research focuses on the incorporation of social and political information into financial analysis. His email address is
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On 25 January 2011, thousands of Egyptians gathered to raise their voices against their country's long-standing president, Hosni Mubarak. I received the news as I was conducting fieldwork in a research department of an international bank based in Zurich. Here, I document how Egypt's revolution was perceived, discussed and interpreted within this research department. I argue that the process of ‘pricing the revolution’ that took place may be understood as an ongoing interaction among participants in financial markets and that, given this, it should be understood as a social process, rather than an economic one.