Review
Art
Culture
5 min read

Blake, imagination and the insight of God

A new exhibition focuses on seekers of spiritual regeneration and national revival.

Jonathan is Team Rector for Wickford and Runwell. He is co-author of The Secret Chord, and writes on the arts.

William Blake's illustration of God squatting down to create with his hair and beard blown to one side
Blake's Ancient of Days.
The Fitzwilliam Museum.

The exhibition William Blake’s Universe at the Fitzwilliam Museum, Cambridge, enables visitors to discover a constellation of European Romantic artists who sought spirituality in their lives and art in response to war, revolution and political turbulence. 

The exhibition brings together the largest-ever display of works by the radical British artist, printmaker and poet from the Fitzwilliam Museum's collection, alongside artworks by Blake's European contemporaries such as the German romantic painters Philipp Otto Runge and Caspar David Friedrich – many of which have never been displayed publicly in the UK until now. Though they never met or connected in their lifetimes, Blake, Runge and Friedrich shared an unwavering belief in the power of art to redeem a society in crisis.  

Blake believed it ‘is only the imagination’, the faculty we have neglected, which can lead us out of our self-imposed prison. 

The exhibition also places Blake within his artistic network in Britain, drawing parallels with the work of his peers, mentors and followers including Henry Fuseli, John Flaxman, and Samuel Palmer. In the exhibition catalogue Esther Chadwick draws attention to a little-known series of paintings in which ‘Blake is shown partaking in an immense community of like-minded intellectuals of the European Romantic generation.’ These include writers and poets associated with Runge, as well as artists and poets such as Flaxman, William Wordsworth and Samuel Taylor Coleridge. Flaxman introduced Charles Augustus Tulk, a well-known Swedenborgian, to Blake, to whom Tulk later introduced Coleridge saying ‘Blake and Coleridge, when in company seemed like congenial beings from another sphere breathing for a while on our earth’. 

Exhibition curators David Bindman and Chadwick have said: “This is the first exhibition to show William Blake not as an isolated figure but as part of European-wide attempts to find a new spirituality in face of the revolutions and wars of his time. We are excited to be able to shed new light on Blake by placing his works in dialogue with wider trends and themes in European art of the Romantic period, including transformations of classical tradition, fascination with Christian mysticism, belief in the coming apocalypse, spiritual regeneration and national revival.” 

Independently of each other, Blake and Runge were inspired by the writings of German mystic Jacob Böhme, who, as Bindman and Chadwick explain, ‘believed that all being arises from the dynamic interplay of opposites: between darkness and light, life and death, hot and cold, male and female’. As a result, he viewed our spiritual quest as ‘the reconciliation of differences to produce spiritual and philosophical regeneration’. Bryan Aubrey has also shown that Böhme believed human beings can share in the divine imagination, through which we act ‘with, and on behalf of, the creator’. Böhme ‘equated the strong imagination with the faith that moves mountains’ while Blake believed it ‘is only the imagination’, the faculty we have neglected, which can lead us out of our self-imposed prison. Blake was, as a result, indebted to Böhme for his concept of the imagination and his doctrine of contraries. 

This exhibition demonstrates that many of great Romantic philosophers and writers were seeking just such a spiritual regeneration and national revival. 

Melanie Öhlenbach has argued that ‘Runge's life, his theory and works bear testimony to Böhme's importance’. For Runge, art ‘is considered as the revelation of God and the artist as its tool, while the artist's imagination creates the insight of God’. He believed it is ‘the artists' duty to re-create the diverging harmony of man and cosmos in the sense of an artistic-spiritual revolution’. She writes that due to his early death, ‘Runge managed only partly to put his ambitions into practice’, notably in his Times of Day series which represent not only the changing times of day, but the seasons, the ages of humanity and historical epochs. Similarly, Friedrich’s seven sepia drawings The Ages of Man are thought to be inspired by Runge’s interest in visual representations of time, meaning that this exquisitely delicate series is associated with the themes of change in nature, the cyclical representation of time and the temporality of human life. 

The significance of these artists is, in part, as prophets within the Christian tradition. Lucy Winkett has noted that ‘Blake’s faith was in the Jesus whom he believed the Church had abandoned’. As a result, ‘he was — and still is — an internal rather than external critic of the way in which the Christian faith is practised by its adherents; and so, for those who have ears to hear, his is a prophetic rather than destructive force within the Christian tradition’. Richard A. Rosengarten states that ‘Blake wanted to stir things up because he thought the Christian revelation was meant to stir things up’. He argues that, for Blake, the ‘first step in doing so (after reading the Bible from stem to stern) was to liberate Imagination from the shackles of Reason’. This is what ‘could make us fully human again, and thus much more approximately the creatures of God that we truly are’.   

Malcolm Guite suggests that both Blake and Coleridge: ‘recognised Jesus as the Divine Imagination and Love bodied forth for us and kindling afresh in us the love and imagination which is God’s lost image deep in our souls. Both men were calling for England (‘Albion’ in Blakes terms) to awaken from the sleep of materialism, greed and conquest, and to be renewed in Christ through an awakening of the spiritual imagination.’ 

This exhibition demonstrates that many of great Romantic philosophers and writers were seeking just such a spiritual regeneration and national revival. In our own time of war, revolution and political turbulence, it may be that this is a prescient exhibition bringing us artists who, as Winkett said of Blake, have ‘a distinctively Christian voice for our time’.  

In Jerusalem, one of Blake’s illuminated books from which many plates are shown in this exhibition, Blake writes: ‘I know of no other Christianity and of no other Gospel than the liberty both of body and mind to exercise the Divine Arts of Imagination – Imagination, the real & eternal World of which this Vegetable Universe is but a faint shadow, & in which we shall live in our Eternal or Imaginative Bodies when these Vegetable Mortal Bodies are no more.’ 

William Blake’s Universe, 23 February 2024 - 19 May 2024, Fitzwilliam Museum.

Watch the exhibition trailer

Article
Culture
Economics
Ethics
6 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?
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.