Explainer

Culture

Masculinity

20 September 2023

5 min read

Authenticity and the problem with men

The problem with men rarely leaves the headlines. James Ray looks beyond, seeking one potential solution - authenticity. Part of the Problem with Men series.

James Ray

James leads the XTREME CHARACTER CHALLENGE. He is also a priest in the church of England.

Three men wearing pink, spotty and yellow face masks stand in the street.

Chris Curry on Unsplash.

Masculinity is under scrutiny like never before. Knowing and living out what it means to be a man is a cultural challenge, a generational responsibility and a personal mission. Yet so much of the talk about men comes from the mouths of those who are not living the example themselves.

Take Caitlin Moran - the award-winning Journalist and feminist – for example. She too believes the masculine gender requires a reboot to assist what she calls 'the second half of feminism' and has offered insights of her own as to what might be required in this process. In her book What about Men? she highlights the side effect of so much energy being devoted to finding solutions to girls’ problems being a vacuum for contemporary men. A disaster for all.

The stats to support this are alarming. You may be aware that when compared to girls, educationally boys are falling behind and more boys are excluded from schools. We know that most jails are populated by men. Homelessness is mostly a male issue. Addiction (alcohol, drugs, porn) is a hugely male concern. Perhaps most alarmingly, suicide is the leading cause of death of males under fifty. Men are FOUR TIMES more likely to lose their lives to suicide. Nick Fletcher MP knows all this and has recently called for a Minister for Men to avert this masculinity crisis….. A Minister for Men!

The problem with men is one men must also be active in solving.

However, whilst Moran claims to have the wellbeing of men in sharp focus, the very fact that she is setting out the blueprint for the issue and offering some solutions is, in itself, an offence to many – especially some men – who have suggested she isn’t the person to lead the charge. They imagine the shoe on the other foot: a man telling women what their problems are and how to deal with them. We have been there (for too many years) and we don’t want to go back. No: the problem with men is one men must also be active in solving.

And some men are.

In his book, Of Boys and Men, Richard Reeves highlights many of the same issues as Moran offering statistical and empirical data to support his claims. He is dedicated to the issue and recently founded the American Institute for Boys and Men to help address the urgent need in research and policy making. But it was also through his research that Reeves noted that, in order to change, men need to be taught how to be men. Masculinity needs to be created, unlike femininity which happens often as an impulse response, masculinity is more often developed through such moments as a rite of passage or is passed down father to son (master to apprentice, Jedi to Padawan).

This all seems to make sense, and perhaps we could just stop there – with the instruction for men to teach other men how to man. But the problem is deeper than that because many men are incapable of teaching others for the inescapable reason that they just haven’t learnt themselves. Their own version of masculinity has been warped by selfish impulses, or after generations of poor role models, as well as a breakdown in communities and shared values. The adage ‘you can’t teach what you don’t know’ has never rung more true. Add to this the fact that you might not know anyone to teach and the problem deepens…..Meanwhile, the masculinity crisis rages on.

At the same time, men are also increasingly isolated, so much so there are many who claim men are in a friendship recession.

Max Dickens reflects on his own experiences of loneliness in his book Billy No Mates . Dickens was planning his wedding when his suddenly occurred to him that he couldn’t select a best man….because he had no mates! But before you men reading this think ‘how pathetic’, ask yourself, how many close friends do you have? Who would you ask to be your best man? How well does that guy know you? Apparently, you are increasingly unique if you have more than three very close friends.

Men are lonely.

So, it seems 50% of the population are in real trouble. But there is hope. Having spent thousands of hours discussing these issues with thousands of men I think we have found a path. It is a narrow route suspended between extremes. It’s the way of purpose, balance and responsibility. It is wide enough to contain all men but narrow enough to be individual to each man. It is the way of the Authentic Man.

Authenticity is more closely linked to integrity. It means being who you say you are. It’s about the outside and the inside being aligned.

Being “authentic” has sometimes been aligned to the idea that ‘this is me’, and ‘only I get to say exactly what that looks like’. ‘You just have to accept me as I am, including what I want to do and say, whether you like it or not’. But to me, that’s not being authentic, that’s more like a supercharged form of self-expression. Authenticity to me has a grander, more challenging mandate. Authenticity is more closely linked to integrity. It means being who you say you are. It’s about the outside and the inside being aligned. Another way to express it is that it’s the opposite of inauthentic – like not being fake. Someone who’s external image, reputation and appearance matches the life he is actually living behind closed doors. And here we start to see the Authentic Man emerge. In fact, when you look for him, you will find him everywhere. Because he isn’t just a self-construct, he is also a ‘we’ construct; he is challenged and mediated (and changed) by the needs and expectations of the wider world around him - of partners, family, community, faith and culture - and also by what is ultimately healthier and better for him and for us.

Thus, the Authentic Man is a kind of ideal towards which I can point all men. And in that sense following (or even pursuing) the Authentic Man is about discovering truth. The truth of who you are but more importantly the truth of what you could become. Looking ahead at the Authentic Man and seeing what you could be. Perhaps what you should be. Sometimes the Authentic Man might be visible out there in front of us in someone else. Sometimes others might be able to glimpse the Authentic Man in us. But for all men, the Authentic Man represents this true ideal. A true guide, who can lead us beyond the pitfalls and mires into which we all have a tendency to fall, towards firmer, higher ground. Better ground. For us and for everyone around us.

So, as we begin to take seriously again the question of what masculinity is, and what it looks like, and what it needs, I look to the Authentic Man and the authentic men in my life. Men who know their purpose and are grounded in responsibility: responsibility for our past, balance in our present and are taking responsibility for our future.

So, What About (Authentic) Men? – you will see, they are on the move!

Article

Culture

Economics

Ethics

1 May 2025

6 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?

Laurence Fletcher

Laurence Fletcher is a journalist at the Financial Times.

A montage shows Trump with a raised fist against other images of him and the phrase 'fight fight fight'.

$Trump coin marketing image.

gettrumpmemes.com,

Donald Trump’s “liberation day” tariffs may have driven sharp swings in global financial markets, but his actions in markets a few months earlier were in some ways even more peculiar.

On the Friday before his inauguration as the 47th US President in January, the Republican surprised many with the launch of the $TRUMP memecoin, described by its website as “the only official Trump meme”. The cryptocurrency token, in which Trump’s family business owned a stake, initially soared in value to more than $14bn over that following weekend.

Then, on the Sunday, Trump’s wife Melania launched her own memecoin, $MELANIA, which reached a value of $8.5bn. Even the pastor who spoke at the president’s inauguration subsequently launched his own memecoin.

For those wondering what exactly a memecoin is, you are not alone. In short, they are a form of cryptocurrency - an asset class that itself has attracted plenty of questions about its substance and purpose - representing online viral moments. They have no fundamental value or business model and, according to the US securities regulator, “typically have limited or no use or functionality”.

Donald and Melania Trump’s coins subsequently plunged in price, but still have a value of around $2.5bn and $214mn respectively, according to website CoinMarketCap.

There are plenty of others in existence. PEPE, based on a comic frog, has a value of around $3.6bn; BONK, a cartoon dog, has a market cap of $1.5bn; and PNUT, a reference to a squirrel euthanised by authorities in New York and about which Trump was allegedly “fired up” (although doubt has since been cast on the president’s involvement in the matter), is still valued at around $174mn, despite having fallen sharply in price.

Dogecoin, seen as the world’s first memecoin and originally created as a joke, boasts a market value of around $25bn. (There are other memecoins which may not be suitable for these pages).

Some people’s willingness to buy an “asset” with no use or fundamental value may seem strange to more traditional investors. But it can be viewed as just one manifestation of the speculative investor behaviour evident since the onset of the coronavirus pandemic and, indeed, at times throughout history.

The price of Bitcoin recently rose above $100,000, despite many investors still viewing it as having little or no value (in 2023 the UK’s Treasury select committee described cryptocurrencies as having “no intrinsic value, huge price volatility and no discernible social good”). In early 2021, shares in GameStop - a loss-making US video games retailer that some hedge funds were betting against - rocketed as much as 2,400 per cent, as retail investors piled in, many with the aim of inflicting pain on the hedge fund short sellers (in that respect at least, a highly successful strategy that became the subject of the film Dumb Money). The huge rise in AI and other tech stocks in recent years - until the recent tariff-driven volatility - has also been described as a bubble by some commentators.

Whether or not such episodes can be compared to infamous bouts of speculative mania in history depends on your point of view (and often can only be judged with the benefit of hindsight) - be it the 17th century Dutch tulip bulb mania, shares in the South Sea Company in the 18th century or the dotcom boom and bust of the late 1990s and early 2000s.

But it does give rise to the question of when investment should start to be described as speculation or even as gambling? And what are the rights and wrongs of any of those activities?

There can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources...

Gambling can be thought of as risking a stake on, for instance, the result of a game of chance or sport in the hope of a bigger payout. While often the result is purely down to chance, in some cases a strategy or an element of research (for instance of a horse or football team’s form) can be used. Investment, in contrast, tends to involve purported economic utility and assets believed to have some sort of underlying value, and holds the hope of future profit (although there are also plenty of bad investments or those that have gone to zero). While an investor must be prepared to lose their entire stake, in some cases such an event is relatively unlikely (for instance, if they buy a fund tracking the performance of a major stock exchange). Speculation is harder to define, but is generally seen as shorter term than investment, with more chance of a bigger gain or loss, and dependent on price fluctuations. Rightly or wrongly, the term has a more negative connotation than investment.

One writer who explored the ethics of these activities was Oswald von Nell-Breuning, a Jesuit theologian and economist who served as an adviser to the Pope and who was banned from publishing under the Nazis.

While he found that “one general definition cannot capture all the nuances” of speculation, he identified two different types of speculative activity - one that was purely trying to make a profit from financial market trading, and one based on trying to create a viable business. (See this article in the Catholic Social Science Review for a fuller explanation of Nell-Breuning’s views on speculation).

As the CSSR article shows, Nell-Breuning found that there can be positive effects from speculation - one might think of better liquidity and price discovery in a market, while, in commodity futures markets, speculators allow producers to hedge risk.

But he also argued that there can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources away from production.

And whereas gambling typically takes place within a circle of players who have chosen to take part, speculation, he wrote, can affect a greater portion of society - for instance, if it affects the price of shares or bonds they hold.

The Bible - on which Nell-Breuning’s faith and analysis was based - does not take a prescriptive approach to such activities. But it does provide some interesting guidance.

An entrepreneurial approach to business and investment is applauded, for instance when the writer of the book of Proverbs (traditionally believed to be King Solomon) praises the virtues of “an excellent wife”. These include investing in a field and using her earnings from business to plant a vineyard, and feeding her family from her gains.

Jesus tells a story of a master who, before going on a journey, gives his property to his servants, each according to their ability. To one he gives five “talents” (a large unit of money), to a second two and to a third servant he gives one.

The first servant trades with his talents and makes five more talents - a 100 per cent profit - and is applauded by the master on his return. The second servant also trades and similarly makes two more talents and is again applauded.

But the third servant, being afraid and believing the master to be “a hard man”, hides the money in a hole in the ground. He is condemned as “wicked and slothful”, and told that he should at least have put the money in the bank.

While Jesus’s story may primarily be about how we view God’s nature, how we use our God-given abilities and whether or not we can take risks in faith for Him, it is also hard not to see investment and indeed wise speculation as being virtuous activities here. Putting the money into a bank account is, in this story anyway, more of a fallback option.

But the Bible also warns us against putting money above all else in our lives. The love of money is, famously, a root of all sorts of evil, while we are also told to be content with what we have, and that “wealth gained hastily will dwindle”.

Nell-Breuning similarly warns that a “get-rich-quick” mindset, when this is placed above all else, can be harmful, and advises caution in situations where the lure of big profits can lead the speculator into market manipulation or fraud.

After all, both gambling and crypto trading have the potential to become dangerous and damaging addictions needing treatment.

Ultimately, Nell-Breuning struggled to come to a simple conclusion on the question of whether speculation, in and of itself, is morally wrong. It is, he wrote, a judgment call for those involved.

When making such decisions ourselves, his - and the Bible’s - warnings may be worth bearing in mind.