Review
Books
Culture
Language
Romance
6 min read

Jane Austen‘s most excellent fan club

The very fine authors who draw inspiration from Jane.

Beatrice writes on literature, religion, the arts, and the family. Her published work can be found here

A book cover with a handwritten title that reads: Jane Austen volume the first
Paolo Chiabrando on Unsplash.

250 years after Jane Austen’s birth, her stories are still an incredibly significant part of our culture. The annual Jane Austen Festival in Bath is gearing up to be bigger than ever; Winchester Cathedral is set to unveil a new statue of Austen later this year; and – perhaps most controversially – Netflix has announced yet another adaptation of Pride and Prejudice.  

Historically, there’s been an overwhelming focus on two elements of Austen’s writing: the Regency setting, and the romance plots. There’s nothing inherently wrong with enjoying these two aspects of her novels. I know I do. But this comes at the risk of underestimating the richness of Austen’s literary legacy. The internet is littered with listicles and blog posts in the format of ‘What to Read Next If You Love Jane Austen.’ Some of these lists will point you to other nineteenth-century literary classics. Others will home in on the romance element, recommending Helen Fielding’s wildly successful Bridget Jones’s Diary, Georgette Heyer’s Regency romances, or even Julia Quinn’s Bridgerton series.  

I’d like to share with you an alternative and more eclectic list of books that I’ve fallen in love with as a lifelong Austen fan. Only one of these books is set in the Regency era; some have a romance as a major part of the plot, others don’t; some share Austen’s realistic writing style, one borders on magical realism. But I think each of these novels or authors brings out a fascinating and often overlooked aspect of Austen’s literary inheritance.  

Anne Brontë’s The Tenant of Wildfell Hall (1848) 

Austen is regularly compared to Charlotte Brontë, who famously wrote Jane Eyre, but I think her younger sister Anne is a fairer comparison. Writing only a few decades after Austen’s death in 1817, Brontë’s style is closer to Austen’s realism than to her own sister Charlotte’s use of gothic tropes and supernatural themes. Like Austen, in The Tenant of Wildfell Hall – as well as in her other novel, Agnes Grey – she focuses on simple language and engaging dialogue. Austen and Brontë also share a deep concern for female education. In several of her novels, notably Pride and Prejudice and Emma, Austen critiques the reality that many young women from middle-class and upper-class families were being taught to value ‘accomplishments’ like dancing and singing over any other form of education, with the aim of attracting a rich husband. Similarly, in The Tenant of Wildfell Hall Brontë’s heroine Helen criticises society’s belief that boys and girls should be educated differently, with boys being taught about the dangers and vices of the world, and girls being kept in ignorance of them. Helen thinks that this attitude makes girls more vulnerable to suffering and disappointment; I suspect Austen would have agreed. 

Barbara Pym’s Excellent Women (1952) 

Now somewhat forgotten, many of Pym’s stories are considered ‘novels of manners’, that is, novels that detail the costumes and values of a particular sphere of society at a particular time in history: in Austen’s case, the middle and upper classes in Regency England; in Pym’s case, the parishioners of a typical Anglican community in post-World War II London. Like Austen, Pym’s writing style is incredibly witty, and both writers favour everyday stories about ordinary people. In fact, Pym took the title Excellent Women from a phrase used by Austen in her unfinished novel Sanditon. These so-called ‘excellent women’ perform seemingly unheroic, small duties for others, the kind that may well go unnoticed, but which are often indispensable in small communities. In Pym’s novel, the first-person narrator, Mildred Lathbury, spends her life between working at a charitable organisation and helping and helping the priest at her local Anglican church. Mildred’s work is often taken for granted, much like the heroine of Austen’s Persuasion, Anne Eliot, whose family are remarkably ungrateful for all the ways in which she eases their burdens. Novels like Pym’s rightly celebrate the quiet bravery of the women who devote their lives to serving others.  

P. D. James’ Death Comes to Pemberley (2011) 

Detective fiction is not the first thing that crosses my mind when I think about Jane Austen. And yet, in a 1998 talk to the Jane Austen Society titled ‘Emma Considered as a Detective Story’, novelist P. D. James made a compelling case that Austen should be considered a precursor to the genre. James argued that a detective novel isn’t defined by the discovery of a murder (nobody dies in Dorothy Sayers’ acclaimed Gaudy Night, for example), but by the unveiling of a mystery. In Emma, Austen scatters clues for us readers along the way but withholds enough information as to keep us – and Emma herself – in the dark. When it’s revealed that Jane Fairfax and Frank Churchill have been lying to hide their secret engagement for the entirety of the novel’s timeline, Emma realises how much she’s been deceived, and it’s this theme of deception that really links Austen’s novel to the detective genre. Yeas after her talk, James ended up writing a detective fiction sequel to a different Austen novel, Pride and Prejudice. Death Comes to Pemberley takes place six years after Elizabeth Bennet and Mr. Darcy’s wedding. A man is found dead on the grounds of Pemberley and Mr. Wickham is the prime suspect. I won’t say any more. It’s my favourite retelling of an Austen novel. 

Kazuo Ishiguro’s The Buried Giant (2015) 

The Buried Giant tells the tale of a Briton couple, Axl and Beatrice, as they set out on a quest to find their long-lost son in a post-Arthurian England where people struggle with the loss of long-term memories. Ishiguro blends a very realistic portrayal of the relationship between a married couple with magical elements such as the presence of a dragon whose breath causes forgetfulness. On paper, this is also not an obvious recommendation, yet memory is a crucial theme for Austen. Persuasion is centred around Anne Eliot’s memories of her broken engagement to Captain Wentworth, which simultaneously bring her happiness and suffering. Mansfield Park’s heroine, Fanny Price, has an equally complex relationship with her past. She often she misses her childhood home, yet part of her is glad that she was taken to be raised by the Bertram family at Mansfield Park, a place which she loves in spite of painful memories of being mistreated by her Aunt Norris. Fanny thinks of memory as the most wonderful faculty of human nature, as it can be at times incredibly ‘retentive’, at others ‘bewildered’ and beyond our control. Ishiguro would surely agree, as that’s precisely what The Buried Giant is about: the ways in which memory can both fail us and yet give us hope, recall suffering and yet brings us closer to those we love. 

 It’s hard to overestimate Austen’s impact on the literary world. And while she’s sparked a revival in literature set in the Regency era, it’s also fascinating to see how she’s influenced writers working in seemingly very different genres from her. Anne Brontë’s novels may be darker in tone, but they show very similar concerns to Austen’s, especially when it comes to virtue and education. Barbara Pym wrote Excellent Women over a century after Austen’s death, yet shared Austen’s interest in highlighting the joys and sorrows of ordinary life. P. D. James found inspiration in Austen despite her own background being in detective fiction. And Ishiguro, despite writing novels ranging from dystopian science fiction to magical realism, has mentioned Austen as an inspiration.  

If you’ve already read all of Austen’s novels, read them again – no one writes quite like her. But once you’ve reread them all, why not try one of these novels next? They may illuminate a side of Austen’s writing that you’ve missed before. 

Join us: support Seen & Unseen

Since Spring 2023, our readers have enjoyed over 1,000 articles. All for free. 
This is made possible through the generosity of our amazing community of supporters.

If you enjoy Seen & Unseen, would you consider making a gift towards our work?

Do so by joining Behind The Seen. Alongside other benefits, you’ll receive an extra fortnightly email from me sharing my reading and reflections on the ideas that are shaping our times.

Graham Tomlin
Editor-in-Chief

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.