Review

Art

Culture

Identity

26 January 2024

6 min read

How the incomer’s eye sees identity

A re-invigorated art gallery highlights synergies between ancient texts and current issues.

Jonathan Evens

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

A painting depicts a round table in a room. Those sitting around it rise up as a Christ figure enters.

Horace Brodzky, Supper at Emmaus.

Ben Uri Gallery and Museum.

Ben Uri was founded in 1915 in London’s Whitechapel and was named after Bezalel Ben Uri, the craftsman who designed and built the Ark of the Covenant.

Originally it was an art venue for Jewish immigrant artists who were unable to gain access to mainstream art societies at that time. Today it has been reimagined and relaunched, becoming an expansive digital platform designed to be the first stop for information on Jewish, refugee and immigrant artists, designers, dealers and scholars who have made significant contributions to the rich and diverse British cultural mosaic.

In 2023, I curated an online exhibition for Ben Uri exploring migration themes in Biblical images drawn from their Collection.

Themes of identity and migration feature significantly in both the Hebrew and Christian Bibles and images from these Bibles are a substantive element of the Ben Uri Collection. As a result, the exhibition that I curated, Exodus & Exile: Migration Themes in Biblical Images, includes a range of Biblical images from the Collection. This is in order to explore migration themes through consideration of the images, the Bible passages which inspired them and the relationship between the two. The images are presented broadly in the order that the stories on which they are based appear in either the Hebrew or Christian scriptures.

The combination of images and texts I selected from the Ben Uri Collection enabled a range of different reflections, relationships and disjunctions to be explored. These include the aesthetic, anthropological, devotional, historical, sociological and theological. The result is that significant synergies can be found between the ancient texts and current issues. In this way, stories and images which may, at first, appear to be describing or defining specific religious doctrines can be seen to take on a shared applicability by exploring or revealing the challenges and changes bound up in the age-old experience of migration. This was important in writing for an audience including people of all faiths and none, and in writing for an organisation which seeks to surpass ethnic, cultural and religious obstacles to engagement within the arts sector.

“Most of what we’d today call migration is in the Bible, and it’s through migration, not in spite of it, that revelation occurs.”

Sam Wells

Engaging in a dialogue between images and texts and with an audience made up of people of all faiths and none, can be revelatory for all involved, particularly those doing the writing. In an essay related to the exhibition, about which I will say more shortly, I discuss the impact of émigré artists, many of whom were Jewish, who contributed artworks that greatly enriched British culture and churches. Another example of someone impacted by the insights of those from another faith community is that of Lord Maurice Glasman, who has written of the part played by Catholic social thought in restructuring his politics, ethics and orientation of thought. He writes that: “It established the Common Good – a negotiated settlement between estranged interests – as the ultimate end of politics. It is Catholic social thought that has guided me through the 2008 crash, Brexit and now the coronavirus. It has been my inspiration and I will be eternally grateful to Catholics and the Church. It was a very generous gift. In the darkest moments, it lights the way.”

Sam Wells, Vicar of St Martin-in-the-Fields, argues that the Bible itself is founded on six journeys, all of which have a bearing on themes of migration: “Jacob and his entourage migrate to Egypt in the midst of famine. This is an economic migration, but really it’s a journey of survival. Moses and the children of Israel migrate from Egypt to the Promised Land. They leave as refugees to flee slavery. They take 40 years to reach their destination, and, when they get there, they face a very hostile environment indeed. Judah loses a battle and is displaced 500 miles to Babylon. There, as Daniel shows, exiles play a vibrant role in public life, and bring unique qualities, represented by the ability to interpret dreams. Jesus travels from Galilee to Jerusalem. He’s living during the occupation by an invading power, Rome. Finally, Paul migrates from Jerusalem to Rome. He’s searching for legal protection in an empire where citizenship transcends geography.” His conclusion is that “most of what we’d today call migration is in the Bible, and it’s through migration, not in spite of it, that revelation occurs”. As a result, we don’t get Judaism or Christianity without migration.

Many of these artists were part of a remarkable generation of refugees from Nazi-dominated Europe who contributed artworks that greatly enriched British culture and churches.

Wells’ approach is one that I adopted in exploring migration themes through Biblical images in the Ben Uri Collection and many of the journeys he mentions feature in the exhibition images. The images I chose, begin with an L. Michèle Franklin watercolour of Adam and Eve. In her image they are naked with heads in hands, lamenting their loss, as they leave Eden. This is an archetypal image of forced migration, with those who have become migrants mourning the loss of the home they loved. The creation stories contained in the Bible quickly lead to a founding act of exile as Adam and Eve are banished from the Garden of Eden. One reading of this story suggests that we are all migrants, outside of a truly harmonious relationship with the world we inhabit but looking to return to our harmonious origins.

The exhibition ends with Horace Brodzky’s 'Supper at Emmaus', an image which comes at the end of a journey and depicts the moment of realisation that the one who had been lost and mourned had in fact been with the travellers throughout their journey. As a result, the realisation comes that what we seek may be with us on the journey or Exodus we undertake, rather than awaiting us at the end. This realisation results in a new journey for the exiles and a return to their people and purpose.

In between come stories of migration in the lives and experiences of the artists who created the images included in the exhibition, with aspects of those stories becoming entwined with the Biblical narratives depicted. Attention is drawn to René Girard’s mimetic theory, whereby imitation of one another gives rise to rivalries and violent conflicts that are then temporarily solved by scapegoating others. Some artists of Jewish origin included in the Collection addressed their experience of persecution through crucifixion imagery and, thereby, played their part in exposing and subverting this scapegoating mechanism.

Many of these artists were part of a remarkable generation of refugees from Nazi-dominated Europe who contributed artworks that greatly enriched British culture and churches. After the Second World War, there was an almost unprecedented expansion of the number of church buildings containing works of art, as churches were repaired or built with new work installed in them. This was a time of impassioned artistic activity, in which the catalyst for the Church was, to a significant extent, émigré artists, many of whom were Jewish. I explore the contribution made by this group of artists in a related essay called Debt Owed to Jewish Refugee Art which is also available through Ben Uri Online.

Will Hutton, writing in The Guardian in 2015, noted that refugees “are, as migration specialist Ian Goldin characterises them, ‘exceptional people’”. He continued: “Over centuries, as [Goldin] painstakingly details, it has been immigrants and refugees who have been part of the alchemy of any country’s success: they are driven, hungry and talented and add to the pool of entrepreneurs, innovators and risk-takers. The hundreds of thousands today who have trekked across continents and dangerous seas are by any standards unusually driven. They are also, as Angela Merkel says, fellow human beings. To receive them well is not only in our interests, it is fundamental to an idea of what it means to be human.” The history of émigré artists in the twentieth century, and the part of that story I explore in this essay and exhibition, reiterates and demonstrates the continuing relevance and significance of that message.

In relation to the story told in my essay, it is a story in which the Church is at the heart of welcome and hospitality, combined with awareness of the immense contribution that refugees make to the culture and economy of their host countries. Our current lack of appreciation for that story, these artists, and their works, is, perhaps, symptomatic of the place in which our nation’s conversation about immigration is currently stuck. My hope is that this exhibition and essay can play a small part in changing that situation.

View the Exodus & Exile: Migration Themes in Biblical Images exhibition.

Article

Culture

Economics

Ethics

1 May 2025

1 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.