Essay
Culture
Re-enchanting
7 min read

A place on Earth

Pondering the power of a place, Elizabeth Wainwright believes it roots us and asks us to play our part here and beyond.

Elizabeth Wainwright is a writer, coach and walking guide. She's a former district councillor and has a background in international development.

A ploughed field of red soil is in the foreground, sloping down into a valley with a track and green fields beyond
Red Devon soil near South Hams.
Tony Atkin, CC BY-SA 2.0, via Wikimedia Commons.

“Different places on the face of the earth have different vibrations, different polarity with different stars. Call it what you like, but the spirit of place is a great reality.”

DH Lawrence

I hoped it would be a David and Goliath story – big national developers, small local community, the community wins, the developers leave town. Instead, the application for almost 300 uninspired and loveless houses passed despite concerns over affordability, wildlife enhancement, and lack of green infrastructure. As an elected District Councillor, I spoke my concerns alongside residents. Some improvements were made, but the story is now a familiar one: the planning committee recognised the concerns, but felt their hands were tied – if they refused permission, the wealthy developer would appeal, and probably win, and our District Council would have to pay costs from its ever-dwindling budget.

Developers are invested financially in a place, but not relationally or ecologically. The land becomes a blank canvas; the otters, oaks and fertile soils are an inconvenience which can be replaced with some token tree planting and bat boxes afterwards, in the name of ‘development’ (a slippery idea that is often interpreted as profit rather than value). The layers of the place – of farming and memory, of community and care and stories through seasons – are invisible to distant developers, but not to those who have eyes to see.

I have been trying to see the layers in these Devon lands where the soils are red, and where the farmers are still “buried deep in their valleys, in undateable cob-walled farms…connected by the inexplicable, Devonshire high-banked, deep-cut lanes…” as poet Ted Hughes observed. Unearthing the layers of a place can lead to topophilia – a bond we feel with its emotion, memory, geography, heritage. I’ve felt pulled instantly to places before – Scottish islands, Zambian savannahs (the pull to Zambia eventually led me to live and work there, and now I feel folded into its red soils just as I am into the red soils of Devon). But I think topophilia is different, more gradual, a slow intertwining of roots as a place becomes known to us. Whether instant pull or slow-burning topophilia, I’ve been thinking about place, and why it matters.

When the global is often more glamorous than the quiet hush of the deeply rooted local, knowledge of and respect for place feels rebellious but vital.

God’s first words to humans were to Adam and Eve in the Garden of Eden near the Tree of Life: “Where are you?” They were hiding, ashamed of their nakedness. He could not find them. Where are you? In an increasingly remote and rootless age, with access to everyone and everything 24/7 yet loneliness still on the rise, perhaps this question is one to consider anew. When borderless corporations can be more influential than governments, and when the global is often more glamorous than the quiet hush of the deeply rooted local, knowledge of and respect for place feels rebellious but vital. Kentucky farmer and author Wendell Berry knows this:

“…one cannot live in the world; that is, one cannot become, in the easy, generalizing sense with which the phrase is commonly used, a "world citizen." There can be no such thing as a "global village." No matter how much one may love the world as a whole, one can live fully in it only by living responsibly in some small part of it. Where we live and who we live there with define the terms of our relationship to the world and to humanity.”

I have long admired Berry’s writing, and his choice to care for a patch of Kentucky land. His is no bucolic rural idyll – his, for decades, has been a cry for re-rooting and for neighbourliness, because “it all turns on affection” and because that is how the world is made and remade; through imperfect places and the encounters in them. We are situated in a landscape, and it is through this particularity that we engage with creation. We exist at the scale of human relationship, in this place, amongst these people, in this time. The grass may seem greener elsewhere, but the grass here is green nonetheless – and greener still when I stare at it, and get curious about it, and get to know the many years and hands that have tended it, and take part in tending it myself.

The cornerstone of the Christian story is that Jesus came into the world as a human. And humans exist in place. In the short documentary Godspeed, Alan Torrance – a giant, kilted, red-haired Scottish man – shared that the reason he came to believe in Jesus as an adult was not because of theology or preaching, but because of the scale of the map in the back of a Bible. The map depicted the area where Jesus lived – the north edge of the sea of Galilee. It was the same scale as the place Alan lived in Scotland. He knew that relationship and community mattered (“we’re not rich folk, but to me you’re poor if you cannot offer hospitality”) – he knew that Jesus would have been found out if he were a fraud. God didn’t just come into the world; he came into a place built on relationships. It wasn’t theology that changed Alan’s mind about Jesus, it was a map of a particular place.

Nature writing… a genre that explores the natural world, often through authors’ relationship to particular places, and often touching on the numinous and unseen.

In the Bible and I think in life, God – or some sense of the divine – is often encountered not only in a particular place, but in the natural world there – a garden, a burning bush, a desert wilderness. Throughout the Bible from Genesis on, we are called in different ways to care for the natural world, to treat it as a gift, to treat it as if God might be found there. But it is often the secular world that most passionately calls us to reconnect, to care, to pay attention to the natural world. I’ve seen this in campaigns, in popular media, and in ‘nature writing’ which takes a prominent place in bookshops; it’s a genre that explores the natural world, often through authors’ relationship to particular places, and often touching on the numinous and unseen. The Bible could easily be classified as nature writing, or place writing, or poetry – writing of wonder that might re-enchant us in a tired age – but instead it is restricted to the religion or theology shelves, and its wild rooted transcendence goes unheard by people of faith and no faith.

That rooted transcendence that I see in the Bible is something I see in the places I know too. The root of the world ‘parish’ links to both ‘neighbour’ and ‘soujourner’ – ideas that speak simultaneously of being here and reaching beyond. My parish in Devon asks me to listen, to know, to be known – to be a neighbour. But it also asks me to use the nourishment of these deepening roots to reach, to not cling too tightly to ideas of ownership, to face the world and offer love. Berry says,

“I take literally the statement in the Gospel of John that God loves the world. I believe that the world was created and approved by love, that it subsists, coheres, and endures by love, and that, insofar as it is redeemable, it can be redeemed only by love. I believe that divine love, incarnate and indwelling in the world, summons the world always toward wholeness…"

I think knowing our place is important today – because it roots us, and asks us to play our part in the ongoing incarnation of love.

The wholeness and healing of the world depends on love incarnate and indwelling. Love is not a theology, or a card on Valentine’s day, or any of the other packages it gets squashed into. Love created the world, and has the power to keep doing so if we let it. Love dwells incarnate in a place, in the people and encounters in that place – it can be messy and confronting as well as life-giving and transforming. We draw from and add to its deep well, and by doing so, heal the world starting right where we are. That’s why I think knowing our place is important today – because it roots us, and asks us to play our part in the ongoing incarnation of love, and so in the ongoing becoming of the world.

My discovering the world has included travelling and working throughout it – but now the discovery comes through a small imperfect parish in a district in Devon that is shining and struggling all at once, where stories run deep. My husband and I and our soon-to-arrive baby are beginning to hear them. I feel layers of emotion, history, and memory here; I am trying to invest in its hope and reality, to be present in its here-ness and now-ness. I will always love visiting new places and feel a pull to other places. But in this place, when I look and listen and know and be known, I find love indwelling and incarnate. It’s in the hedges, the neighbours, the birds that sit and sing about things we can’t hear, the communities that come together to resist placeless loveless development. It’s in the foodbank, the fields, the relationships that can start off challenging but which soften and deepen over time and despite difference. At a time when I think God is asking us again “where are you?” how good to be able to answer, here, in this imperfect place, where love dwells.

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.