My inaugural lecture – a year late!

Well, it was a busy 2025, but that’s no excuse. So here it is. On 19 February 2025, I was honoured to take part in an inaugural lecture showcase for the University of St Andrews Business School, alongside my colleagues Professors Alina baluch, Shiona Chillas and Ian Smith. We were introduced by the Principal, Professor Dame Sally Mapstone, while Dean of Arts Professor Catherine O’Leary was our MC. A very special, happy event, followed by a dinner in Upper College Hall.

The lecture has since been published as a commentary piece – and call to action – in the Journal of Cultural Economy, which I edit. It’s open access, available here or as a PDF.

For those who prefer, here’s the text and a few pictures:

The times they are a-changin’: markets after neoliberalism, and how to study them

You will doubtless know that it is possible, in the run up to Christmas each year, to take a day trip to see Santa Claus in his cottage in Lapland.[i] You and your children hop on an aeroplane and over the next few hours you are transported into a magical world of snowy forests, sleighs, and reindeer – not to mention merchandising opportunities – until, much later that day, you tumble back into Birmingham, Manchester or Gatwick, pockets empty but memories overflowing.

If you believe in Santa, you should probably stop listening now. For this particular market, offering an authentic Santa experience, is an enormously complicated organisational achievement. A network of local operators serves it: the husky tours, snowmobile transport, hotel and gift shop, buses, and the other paraphernalia of tourism. The actors playing Santa are recruited in the UK so that they will be familiar with the latest trends of the toy market and responsive to the vernacular demands of their small visitors. Authenticity is key, lest the visitors complain (again) about ‘a posh English Santa with a false beard.’

The whole is immaculately choreographed. Tourists take a sleigh ride across the frozen lake into the torchlit forest. Elves shepherd them into the cottage for a carefully scripted four-minute encounter with the man himself, out again into the sleigh, and back through the forest, tears in their eyes at the whole magical performance. Some days two flights arrive from different airports. On those days there are two Santas at work, hidden in different locations in the wood, managed by different circuits of elves, the passengers themselves identified by coloured badges on the lapels.

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We’re podcasting!!!

After months of planning and preparation, I’m so delighted that our new podcast adventure is finally live. My excellent co-host and fellow podcast entrepreneur, Dr Addie McGowan of the University of Salford, will be bringing you fortnightly helpings of Cultural Economy in the Kitchen. We’re joined by a galaxy of (academic) stars, members of the editorial collective, authors, reviewers and comment writers, all stirring the pot of cultural economy, as we serve up fresh insights into the culturalization of the economic, the economisation of culture, and everything deliciously in-between. Expect cutting-edge scholarship with flair, sparkle, and the occasional culinary metaphor — as we discover what’s cooking in their kitchens, both metaphorically and literally. It’s clever, it’s camp, and it’s in your kitchen now!

It’s on YouTube, or you can find it on Apple Podcasts, Spotify and the other outlets. I’ll be adding individual episodes below as they appear. Enjoy!

To see the rest, click below

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‘How to Build a Stock Exchange’, a public lecture at The Australian National University (and on ABC National radio!)

In March and April 2025 I was fortunate enough to spend a month in Canberra as a visiting fellow at The Australian National University’s prestigious Research School for Social Sciences. Fine colleagues in the School of Sociology made me welcome and Canberra delighted me, with its lake, trees and hot air balloons. But a highlight was a public lecture I gave on 26 March 2025, recorded by ABC National, and I’m sharing the script here. The radio recording precluded slides, so I’ll add in some images that I might have used. Enjoy!

Update! The lecture was brodcast on ABC National in October. You’ll find it here!

Canberra is famous for its autumn hot air balloon rally!

Good evening, thank you all for coming tonight, and for that generous introduction.  I’d like to thank the Research School for Social Sciences for offering me a fellowship, and the chance to spend a month in Canberra; to the Journal of Cultural Economy for the not inconsiderable contribution of getting me here; and to colleagues in the department of sociology and the department of management for the warm welcome that I have received over the last weeks. Thank you also to ABC Radio National for recording this lecture.   

A generous introduction from Professor Melinda Cooper

I too would like to acknowledge that we are meeting on land belonging to the Ngunnawal (Nunnawal) and Ngambri (nambri) people, to recognise that sovereignty was never ceded, and to pay respect to their Elders past and present.

The acknowledgement of country seems to me, a visitor from the other side of the world, a welcome recognition and acceptance of the difficult history of colonialism. In that same spirit of recognition, I would like to take you from a massacre to a legal trial and a personal connection to the murky history of finance, which can – should you wish – be told as a history of colonial exploitation. Indeed, even if you don’t wish, it still must be.

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Some tools for the brave new world of right now

As we muster our scholarly resources to try and figure out what is what in the brave new world that we have tumbled into – have been tumbling into for a while, perhaps – here are three things from the archives that might have something to say. Two of them are book chapters, so they haven’t had the airtime that they perhaps deserve. They were published a few years ago and so I’m reproducing them here. The third is a BBC radio essay from 2011, The Entrepreneur.

Who Was René Girard? wonders the Wall Street Journal
https://www.wsj.com/articles/evolution-of-desire-review-who-was-rene-girard-1527886927

First up is a chapter I wrote on sacrifice and management, for a collected volume on the works of Rene Girard.

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On the ‘Making Money’ podcast with Damo and T

I recently joined celebrity YouTubers Damo and T on their podcast Making Money to discuss the history and ethics of finance, as well as his book How to Build a Stock Exchange. Recorded at a Kilburn kitchen table in June, our thoughtful but light-hearted discussion ranged from the troubles of Thames Water, via the chequered history of London’s stock exchanges, to the politics and possibilities of financial markets, all in search of an answer to the question – is finance evil? That, and should Damo poo in the Thames?

Making Money is a personal finance podcast hosted by Damien Jordan, one of the UK’s biggest personal finance YouTubers, and Timeyin Akerele. It is one of the top business podcasts as well as one of the top investing podcasts in the UK; former guests include Deborah Meaden, Paul Johnson, director of the IFS, Merryn Somerset Webb, and Claer Barret and Martin Wolf from the Financial Times.

The episode was published in August, on the same day that Thames Water hit the headlines yet again, this time with news of record fines for illegal sewage discharges. How very appropriate.

The episode is available on Spotify and other streaming services with the less-provocative title ‘How finance shapes the world’. You’ll find the links here.

Harvard Law School, Critical Theory and a spot of Understanding: some podcasts

It’s been a busy stretch and I’ve been bad at posting. So a brief catch up on some podcasts from the summer of 2023.

In August I talked to Professor David O’Brien, University of Manchester, in a podcast for the New Books in Critical Theory network. I’ve known Dave for years and our conversation that ranged from the history of London’s stock exchanges to broader questions about the role of finance in society. He was delightfully complimentary: New Books describes Philip’s book as ‘essential reading across the social sciences and humanities’. The podcast is available here.

June brought an invitation to an ‘online book salon’, New Debates in the Sociology and Political Economy of Finance, hosted by Harvard Law School. I was in esteemed company: I spoke alongside the legendary Professor Donald MacKenzie of the University of Edinburgh and Dr Leon Wansleben of the Max Planck Institute for the Study of Societies on the topic of ‘visibility and invisibility of finance’. You can catch the whole panel, and the others from the afternoon, here.

And finally, for a spot of ‘understanding’, try this, a contribution to Timon Wunderlich’s new ‘Understanding the World’ podcast. A tall order, perhaps, but we did quite well on stock exchanges. Less well, perhaps, on ‘a controversial opinion’. I couldn’t think of one. ‘But you like chilli pickle for breakfast,’ said Mrs R later on. Well, perhaps.

Across the Atlantic: on the IPO-VID podcast

Sometimes great things turn up unexpectedly. And so an invitation from the cheerful and startlingly well informed Patrick L Young, ‘former stock exchange CEO, long time derivatives trader, serial entrepreneur and fintech pioneer’ and general man about town. Patrick and I chatted for an hour and had a fun time. It was good to chat to an audience of professionals as well, although I don’t think they expected some of my answers to go the direction they did!

I’m pleased to say that when it comes to the nitty-gritty of setting up an exchange – although I spend the whole book avoiding that topic – Patrick and I had a great deal to agree on.

Patrick’s team also featured How to Build a Stock Exchange in the EI Weekend newsletter available on Medium and Substack. Well worth a look for those interested in actually setting up a financial institution.

Thank you again to Patrick and all his team.

At the Library of Mistakes, Edinburgh

What a fine place Edinburgh’s Library of Mistakes is – and what a great venue to do my first proper book talk for How to Build a Stock Exchange. Thank you to the Library’s Keeper, Russell Napier, for the invitation and for chairing the session.

Also, I got a brilliant mug!

Podcast: Dismantling the construct of finance

Happy Easter everyone! Here’s a little easy listening if you’re relaxing in the sunshine. I’m delighted to be able to share this podcast, put together by Jess Miles and Bristol University Press. Jess and I chatted about the darkly comic world of finance, why it matters to us as citizens, and why we need to understand how it works. I think Jess, as a finance-studies newbie, was convinced. Thanks Jess and BUP for inviting me onto the podcast. I hope you enjoy listening.

All that money with nowhere to go: a Silicon Valley problem

I dissect Silicon Valley Bank’s utopian problem in a recent piece for the Transforming Society blog…