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Cited by 54Housing, Finance, and NeoliberalismPolitical Economy and MarxismGlobal Financial Regulation and Crises

Value models: Finance, risk, and political economy

Open access
Christophers, Brett·2015·Finance and Society
DOI 10.2218/finsoc.v1i2.1381
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Abstract

This article develops a basic typological framework for understanding and analyzing financial risk from a political economy perspective. It is motivated by growing awareness of the contemporary significance of financial risk and by the fact that the political-economic literature on such risk currently lacks a workable heuristic. The framework distinguishes between and fleshes out what I refer to as the principal ‘value models’ of finance: fees, gains, premia, and spreads. Its primary aim is to facilitate the identification and conceptualization of: (1) the different risk configurations characterizing the heterogeneous political economy of finance; and (2) the different ways in which key stakeholders — such as finance capital, non-financial capital, and labor — come to be enrolled in such configurations. It also aims to contribute to the wider project of demystifying not just financial risk in particular but modern finance more generally.

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  • The first platform revenue model is direct rent: platforms intermediate by extracting rent for transacting via their infrastructures.

    “The first platform revenue model -sitting comfortably with well-established intermediary practices that also accumulate fees and charges (e.g. in the financial sector, see Christophers, 2015) -is 'direct rent'; platforms intermediate by extracting rent (charging vendors, borrowers, those with assets to share, etc.) for transacting via their infrastructures.”

    From Platform capitalism: The intermediation and capitalisation of digital economic circulation (2017) · cites this paper as Christophers, 2015

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6 of the 67 references couldn’t be matched to a known paper.

Research works printed but not linked: 4

  1. Hacker, J. (2006) The Great Risk Shift. Oxford: Oxford University Press.
  2. Harvey, D. (1982) The Limits to Capital. Oxford: Blackwell.
  3. McLeay, M., Radia, A. and Thomas, R. (2014) Money creation in the modern economy. Bank of England Quarterly Bulletin, Q1. Available at: <http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prere leasemoneycreation.pdf/>. Accessed 18 November 2015.
  4. Strange, S. (1997) Casino Capitalism. Manchester: Manchester University Press.

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Authors
Christophers, B.
Affiliations
Uppsala University (SE)
Corresponding author
Christophers, Brett
ORCID
Christophers, Brett
Venue
Finance and Society
Publisher
Cambridge University Press (CUP)
Published
2015
Volume
1
Issue
2
Pages
1-22
ISSN
2059-5999 (ISSN-L)
DOI
10.2218/finsoc.v1i2.1381
OpenAlex
W2220338650
Cited by
53
References
67
Citations by year
2026: 5 · 2025: 3 · 2024: 2 · 2023: 17 · 2022: 5 · 2021: 5 · 2019: 3 · 2018: 3 · 2017: 7 · 2016: 3
FWCI
8.29
Type
journal article
Language
en
Open access
Licence
Locations
  • Finance and Society (publishedVersion, cc-by-nc-nd)
  • KTH Publication Database DiVA (KTH Royal Institute of Technology) (submittedVersion, other-oa)
  • DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion)
  • Econstor (Econstor) (submittedVersion, cc-by-nc-nd)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Finance › Housing, Finance, and Neoliberalism
  • Social Sciences › Sociology and Political Science › Political Economy and Marxism
  • Social Sciences › Economics, Econometrics and Finance › Finance › Global Financial Regulation and Crises
Keywords
financial risk, political economy of finance, fees, gain, spreads, finance capital, non-financial capital, labor

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