Article
Culture
Identity
Psychology
Work
5 min read

Even the office can be a place for self-discovery

What the office makes us feel about ourselves
A model of an office desk and shelves, at which a green plastic person sits leaning into the desk.
Igor Omilaev on Unsplash.

The realisation strikes me as I wrestle to fit my key into the lock on my office door: today I have no memory whatsoever of my journey into work. At my usual time I left the house and got in my car. I drove my usual route to my usual parking space and hopefully I stopped for all the red lights – but in truth I can’t remember any of them. Nor can I remember getting out of my car, locking my car (I hope I did that too) or walking from my parking space to this door, the lock of which is still failing to yield. This, I then realise, is because I am absent-mindedly trying to unlock it with my car key. Rolling my eyes, I reach into my pocket for the correct key… and it is not there.  

Now I’m awake, glancing at my watch; 50 minutes until my first meeting of the day (online). This is enough to drive home again, but not enough to drive home, collect my key, and return to this frustrating door. By now I have established that both coat pockets are empty, so I drop to my knees and start to rummage through my bag.  

It’s not a disaster if I do have to drive home, I can simply stay there and have a WFH day. I am fortunate, in my current job, to have the privilege of deciding this on a day-by-day basis. Many, I know, would love to work from home but do not have the option, but I prefer the office. The smell of black coffee, seagulls yakking on the roof. Doors open and close as colleagues come and go, keyboards tap, and on and off there is distant hum of student voices emanating from a classroom downstairs. In the hive of activity, I hum too, and I definitely get my work done more efficiently.      

I’m interested to analyse this phenomenon through the lens of place attachment. There is a considerable body of research that investigates the way people feel about the spaces that they inhabit – that certain places become meaningful places to be in. Place attachment theorists explore how we can have relationships to places in much the same way that we have relationships to people – feeling a strong pull to return to the familiar, disliking change, and feeling ‘homesick’ for places where we have a strong emotional attachment. Of course, this is usually discussed in relation to the natural world, or to one’s childhood home, or ancestral lands… but why not of the office? Because the heart of place attachment is not really how we feel about places, but how places make us feel about ourselves.  

Either for good or for bad, in the office one inhabits a certain sense of self – maybe not a different self to the one that we are at home – but at work, different aspects of that self are valued differently and are allowed to come to the fore. Perhaps I feel this especially because I am a working mum – it can be a relief to leave the home each day and come to inhabit a space where I am valued for more than my ability to know whether or not it’s PE today, or if there’s milk in the fridge. In the office, I can dwell in a version of myself that I enjoy – one that is paid to think and to write and to teach, a part of the university hum.  

George Pitcher, in his recent article for Seen & Unseen, challenges managers to ask themselves why they are opposing more junior staff working from home. His discussion hints at this same phenomenon of places shaping identities, and Pitcher proposes that managers might resent junior staff working from home, at least in part, because they feel like their identity as a manager is compromised when they cannot sit in their glass-walled office, gazing out over the rows of worker bees, queen of all they survey. As Pitcher puts it, “…if staff aren’t in the office, then what’s the point of being a boss?” 

The Bible too engages with the interplay between one’s sense of self and one’s sense of place. In the Old Testament, before the birth of Jesus, prophets and hymn writers spoke longingly of their homelands, and especially of the temple where they gathered to be assured of their identity as the people of God. “How shall we sing the Lord’s song in strange land?” cries one hymnwriter, exiled far from home, while another writes of how he longs to dwell in the House of the Lord all the days of his life. With this sentiment I can empathise; just as I feel like more of a worker-bee when I am within the hive of the university, I feel I am much more of a Christian when belting out hymns among the Sunday throng than I am among my colleagues at a Monday morning meeting. 

And yet the Bible issues a challenge to me here. Because after the Old Testament comes the New, written after the life, death and resurrection of Jesus Christ, and largely after the destruction of the great “Second Temple” that Herod the Great had built in Jerusalem. With the temple gone, and the region subdued under Roman overlords, the New Testament writers make frequent allusions to Christian believers themselves being temples – temples of the Holy Spirit. This means that, as a Christian, I am urged to think of myself as a “place” of God’s presence in the world – and not just for my own sake but for the sake of others. I am not just part of the hum; I change the hum by being in it. The challenge is to gently bring the notes of my Sunday morning hymn to my Monday morning meeting.  

A long time ago, when I was a little Brownie-Guide, we used to sing a campfire song called “Bees of Paradise.” It was very short and simple:  

Bees of paradise, do the work of Jesus Christ 

Do the work that no one can.  

As a child, I never understood the words, although I enjoyed the pretty little tune that we sang it to, in the round. It comes back to me now, as I rummage in my bag for a key that I know I’m not going to find, and I return to my childhood habit of pondering the lyrics. 

I’ve only got 40 minutes now until my first meeting of the day, it’s time to give up and drive home. Turning resignedly back down the stairs, I resolve to be no less a worker-bee at home than I would have been at the office today. And no less of a Christian either.  

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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.