Professor Paul Langley
Paul Langley is Professor of Economic Geography. Prior to joining the Department in 2011, he was Professor of International Relations at University of York, and Senior Lecturer in Politics at Northumbria University. He is presently Programme Director for BA(Hons) and MArts Geography, and previously convened the Department's Culture-Economy-Life (CEL) research cluster.
Paul's research contributes to the critical study of financial markets and financialization processes in economic geography and across the social sciences. He is the author of three monographs - World Financial Orders (Routledge, 2002/2013), The Everyday Life of Global Finance (Oxford University Press, 2008), and Liquidity Lost (Oxford University Press, 2015) - and has received research funding from the Economic and Social Research Council (ESRC) and the British Academy. Paul is currently working on three projects:
Social finance and urban social innovation
In collaboration with colleagues at Durham Geography, research here is contributing to an ESRC Urban Transformations programme project (see http://community.dur.ac.uk/pursi/). The focus is upon novel forms of finance that are demarcated according to their social content and purpose (e.g. social impact bonds, social lending, community shares, civic crowdfunding) and which variously enable processes of urban social innovation. See, for example, Paul's blog post on 'Crowdfunding Cities' (http://community.dur.ac.uk/pursi/blog/) and his lecture in the 'Frontier Regions in Global Finance' series at the Goethe Universitat in Frankfurt (https://www.uni-frankfurt.de/47235672/11_lectures). This research develops from previous work on marginal and alternative spaces of finance, including subprime mortgages (Economy and Society, 2008), ethical investment (in Abdelal, Blyth & Parson, 2010) and, most recently, crowdfunding in the United Kingdom (Economic Geography, 2016, Environment & Planning A, online early).
Digital interfaces and debt
The ESRC project on Digital Interfaces and Debt (led by James Ash, Newcastle, with Ben Anderson, Durham Geography) is exploring how credit-debt relations are consumed through digital platforms and apps. Work here relates to Paul's wider interests in the production, marketing and consumption of retail financial products and services (e.g. 'Remaking retirement investors', Journal of Cultural Economy, 2012; edited special issue, 'Consuming Credit', Consumption, Markets and Culture, 2014), and research with Andrew Leyshon (Nottingham University) on the intermediary infrastructures of digital economic circulation ('Platform Capitalism', Finance and Society, online early).
Financial investment and decarbonization
As part of REINVENT - a Horizon 2020 project with European partners and Harriet Bulkeley and Gavin Bridge from Durham Geography - research is investigating how new forms of financial investment are contributing towards the decarbonization of the economy. This develops and broadens Paul's long standing research interest in how processes of financialization ostensibly secure the life of the population via the markets - see, for example, book-length treatments of these issues in The Everyday Life of Global Finance (OUP, 2008) and Liquidity Lost (OUP, 2015), and a forthcoming chapter addressing how speculative financial circulations are envisioned as vital to popular wealth and well-being in Money and Finance after the Crisis (edited by Brett Christphers, Geoff Mann and Andrew Leyshon).
Cutting across his current and previous research, Paul also seeks to contribute to conceptual debates underway in economic geography and beyond by developing a broad-based cultural economy approach. This includes concerns with how agency might be conceived of as distributed, relational and assembled, how economics can be understood to have performative power, how sovereign power and techniques feature in processes of economization and marketization, how affective energies are mobilized in economic practices, how the future is made present through calculative and anticipatory techniques, and how the making of responsible and entrepreneurial subjectivities features in contemporary neo-liberal government. He has contributed, for example, to the Cultural Anthropology on-line debate on 'Theorizing the contemporary' (http://culanth.org/?q=node/561), and Paul Mason's Radio 4 Analysis episode on 'Radical economics' (http://www.bbc.co.uk/programmes/b00y6qtb).
Paul welcomes doctoral research students interested in working on topics that fall broadly within the remit of his research interests. He has previously successfully supervised students who have written theses on a wide range of topics, including occupational pensions in the UK, sub-prime mortgage markets in the US and UK, ‘small states’ and ‘hot money’ in the global economy, financial stability and central banking, and the rise of the US dollar as 'world money'.
- Culture-Economy-Life (CEL)
- Geographies of Health and Wellbeing (GoHWell)
- Politics - State - Space (PSS)
- Digital finance
- Geographies of money and finance
- Consumer credit
- Mortgage markets
- Cultural economy
- Langley, P. & Leyshon, A. Capitalising on the crowd: The monetary and financial ecologies of crowdfunding. Environment and Planning A. 2017;49:1019-1039.
- Langley, P. Crowdfunding in the United Kingdom: A cultural economy. Economic Geography. 2016;92:301-321.
- Langley, P. & Leyshon, A. Platform Capitalism: The Intermediation and Capitalisation of Digital Economic Circulation. Finance and Society. 2016;online early.
- Langley, P. Consuming Credit. Consumption Markets & Culture. 2014;17:417-428.
- Langley, P. Equipping entrepreneurs: consuming credit and credit scores. Consumption Markets & Culture. 2014;17:448-467.
- Langley, P. Anticipating uncertainty, reviving risk? On the stress testing of finance in crisis. Economy and Society. 2013;42:51-73.
- Langley, P. Toxic assets, turbulence and biopolitical security: Governing the crisis of global financial circulation. Security Dialogue. 2013;44:111-126.
- Langley, P. & Leyshon, A. Guest editors' introduction - Financial subjects: culture and materiality. Journal of Cultural Economy. 2012;5:369-373.
- Chima, O.R & Langley, P. Putting Humpty Dumpty Back Together Again: Financialisation and the Management of the Subprime Mortgage Crisis. Global Society. 2012;26:409-427.
- Langley, P. & Leaver, A. Remaking retirement investors: behavioural economics and occupational pension funds in the UK and USA. Journal of Cultural Economy. 2012;5:473-488.
- Langley, P. On the materiality of markets. Journal of Cultural Economy. 2010;3:395-402.
- Langley, P. The performance of liquidity in the subprime mortgage crisis. New Political Economy. 2010;15:71-89.
- Langley, P. Debt, discipline and government: Foreclosure and forbearance in the subprime mortgage crisis. Environment and Planning A. 2009;41:1404-1419.
- Langley, P. Financialization and the consumer credit boom. Competition & Change. 2008;12:133-147.
- Langley, P. Sub-prime mortgage lending: A cultural economy. Economy and Society. 2008;37:469-494.
- Langley, P. The uncertain subjects of Anglo-American financialization. Cultural Critique. 2007;6566-91.
- Langley, P. Securitising suburbia: The transformation of Anglo-American mortgage finance. Competition & Change. 2006;10:283-299.
- Langley, P. The making of investor subjects in Anglo-American pensions. Environment and Planning D: Society and Space. 2006;24:919-934.
- Langley, P. In the eye of the ‘perfect storm’ the final salary pensions crisis and financialisation of Anglo‐American capitalism. New Political Economy. 2004;9:539-558.
- Langley, P. Liquidity Lost: The Governance of the Global Financial Crisis. Oxford University Press; 2014.
- Langley, P. The Everyday Life of Global Finance: Saving and Borrowing in Anglo-America. Oxford Oxford University Press; 2008.
- Langley, P. World Financial Orders: An Historical International Political Economy. Routledge; 2002.
Chapter in book
- Langley, P. Financial flows: Spatial imaginaries of speculative circulations. In: Christophers, B., Leyshon, A. & Mann, G. Money and Finance after the Crisis: Critical Thinking for Uncertain Times. Wiley-Blackwell; Forthcoming:69-90.
- Langley, P. The ethical investor and embodied economies. In: Abdelal, R., Blyth, M. & Parson, C. Constructing the International Economy. Cornell University Press; 2010.
- Langley, P. Consumer credit, self-discipline, and risk management. In: Clark, G., Dixon, A.D. & Monk, A.H.B. Managing Financial Risks: From Global to Local. Oxford University Press; 2009:280-300.