Review
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4 min read

Small Things Like These: putting the spotlight on backstage goodness

What it means for a film to be good.

Kevin is a social theologian studying ethics and economics.

The gaunt face of a dishevelled man stares into the distance
A ‘stellar’ Cillian Murphy plays Bill Furlong.
Lionsgate.

Small Things Like These is a novella by the Irish writer Claire Keegan. Published in 2021, it compresses a remarkable story into 128 pages. Acclaimed widely by critics and readers, it follows Bill Furlong, a fuel merchant living in the small County Wexford town of New Ross in 1986, as Christmas approaches. While delivering coal to the local convent, Bill makes an alarming discovery. Memories of his childhood begin to press in on him and he finds himself in an existential crisis.  

Like her previous (very short) work, Foster, Small Things Like These is an understated book with a searing moral clarity. And just as Foster was adapted for the screen – in the astonishing Irish-language film The Quiet Girl – a movie version of Small Things Like These is now likely showing at a cinema near you. 

The movie is built around a stellar performance from Cillian Murphy. It would be criminal if his name is not featured among the shortlists when awards season comes round. Many of the film’s most arresting scenes feature close-ups of his face as Bill wrestles with the implications of his discovery and the phantoms of his past. The effect is that the film serves as an almost literal portrait of what it means to be a decent person.  

The story begins with Bill making a delivery to the convent. He sees a mother drop off her screaming daughter to the back door, where she is met and manhandled inside by a nun. The teenager protests passionately, but to no avail. The viewer understands that this girl has “fallen pregnant”, to use the Hiberno-English idiom that was so common in the twentieth century. She has been dispatched by her family to this institution to serve out the months of pregnancy and to remove any shame or taint from their reputation. Bill watches as the girl shouts out for her father, who is entirely absent.  

And, after a tense interaction with an aggressive nun, he goes home to his five girls and his wife, clearly shaken.  

A few days later, unable to sleep, haunted by memories of his own childhood being raised by a single mother, with an absent father, relying on the kindness of a wealthy local landowner, he begins his deliveries before dawn. As he deposits peat briquettes in the coal shed of the convent, he discovers a teenaged girl abandoned in the corner of the tiny, filthy room. She is in deep distress and Bill responds instinctively, wrapping his coat around her shoulders and bringing her inside to the convent.  

While the existence of Magdalene Laundries and Mother and Baby Homes were not a secret in twentieth century Ireland, the exact details of their operations were not widely understood. With these two encounters, so close together, and his own personal biography as the son of a woman who was subject to exactly the same marginalising dynamics, Bill can no longer be satisfied to turn a blind eye to the oppression and alienation endured by those sent for reformation.  

It evokes the ways in which all such systems of oppression are socially constructed and maintained. Otherwise, good people learn to look the other way. 

The film gathers momentum as Bill is forced to confront the way his mother had been treated for “falling pregnant” and the reality experienced by girls the same age as his daughters who were in a similar situation. In the midst of his existential angst, he finds little solace in the no-nonsense pragmatism of his wife who reminds him “there are things you have to ignore” to get on in life. He is taken aside by his local publican, a woman who has similarly scrabbled up from humble origins to establish a thriving business and cautioned to not make trouble for the nuns since “their fingers are in every pie in the town”.  

I will refrain from fully revealing every detail of the film’s plot. But this element of the screenplay – where Claire Keegan along with Enda Walsh – draw out the sense in which the oppressive ecclesial institutions were enabled and even sanctioned by the wider population is exceptionally well done. The film does not pull any punches on the evils that were committed in the name of churches in Ireland. Indeed, if anything, the presentation of the nuns veers too far towards caricatures of pure malevolence. But with surgical precision, it evokes the ways in which all such systems of oppression are socially constructed and maintained. Otherwise, good people learn to look the other way.  

And that is the lasting significance of this film. Toni Morrison has spoken about how it can seem harder to write about goodness than evil. “Evil has a blockbuster audience; goodness lurks backstage.” In Small Things Like This, Claire Keegan introduces us to a hardworking small business owner who treats his staff well, a loving father who seeks to care for his wife, a man who lives down a back street of a provincial town in an overlooked part of a small island on the periphery of Europe. And in this very definitively backstage context, he is presented as heroic in his pursuit of the Good.  

We all fancy ourselves to be the one person who would stand up and oppose systems of oppression if we ever found ourselves enmeshed in them. Cillian Murphy’s depiction of Bill Furlong whispers to us that we likely are enmeshed in just that way and are choosing not to notice. Small Things Like These is a heavy film that somehow liberates. It reminds us that there is, within each of us, this appetite for seeing the Good and bring brave enough to do it. It is worth your time far more than any competing blockbuster.  

Article
Culture
Economics
Ethics
1 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.