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5 min read

Status, grievance and resentment: C.S. Lewis on the surprisingly modern business model of hell

60 years after its author’s death, The Screwtape Letters image of hell as an unscrupulous business is still relevant. Simon Horobin tells how C.S. Lewis came to author the influential bestseller.

Simon Horobin is Professor of English Language & Literature, Magdalen College, Oxford University.

A comic book style cartoon of a small squat devil looking quizzed in hell.
A scene from Marvel Comic's version of The Screwtape Letters.

November 22nd is the sixtieth anniversary of the death of C.S. Lewis, an event that was overshadowed by the assassination of JFK on the same day. Although he is best known today as the author of the Narnia stories, the obituary that appeared in The Times newspaper a few days later noted that it was in fact The Screwtape Letters which sparked his success as a writer. 

Initially published as a series of letters in the church newspaper The Guardian, The Screwtape Letters appeared in book form in 1942. The idea came to Lewis during an uninspiring sermon at Lewis’s local parish church in the Oxford suburb of Headington, in July 1940. Provisionally titled ‘As one Devil to Another’, the book would form a series of letters addressed to a novice devil, called Wormwood, beginning work on tempting his first patient, by an older, retired devil, called Screwtape. In finding Screwtape’s voice, Lewis was influenced by a speech given by Adolf Hitler at the Reichstag and broadcast by the BBC. What struck Lewis about the oration was how easy it was, while listening to the Führer speaking, to find oneself wavering just a little.  

Lewis dedicated the volume to his friend and fellow Oxford academic, J.R.R. Tolkien. After Lewis’s death, having read an obituary in the Daily Telegraph claiming that Lewis was never fond of the book, Tolkien noted drily:  

‘He dedicated it to me. I wondered why. Now I know.’  

Despite Tolkien’s misgivings, the public devoured the work and it quickly became a bestseller. Although, as Lewis pointed out, numbers of sales can be misleading. A probationer nurse who had read the book told Lewis that she had chosen it from a list of set texts of which she had been told to read one in order to mention it at an interview. ‘And you chose Screwtape?’, said Lewis with some pride. ‘Well, of course’, she replied, ‘it was the shortest’.  

Not all readers approved of its sentiments. A country clergyman wrote to the editor of The Guardian withdrawing his subscription on the grounds that much of the advice the letters offered seemed to him not only erroneous but positively diabolical. The confusion no doubt arose from the lack of any explanation surrounding their circumstances; in a later preface Lewis gave more context, though refused to explain how this devilish correspondence had come into his hands.  

Its publication by Macmillan in 1943 brought Lewis to the attention of readers in the United States; when Time magazine featured an interview with him in September 1947, it carried the title ‘Don v. Devil’. A picture of Lewis featured on the magazine’s cover, with a comic image of Satan, complete with horns, elongated nose and chin, and clutching a pitchfork, standing on his shoulder. 

For Lewis, the war did not present a radically different situation, but rather aggravated and clarified the human condition so that it could no longer be ignored. 

The Screwtape Letters are the product of the war years, during which Lewis wrote many of his most popular works. It was in 1941 that he delivered the first of his broadcasts for the BBC Home Service, which launched his career as a public apologist for the Christian faith. In 1942 Lewis published Perelandra, the sequel to his first space travel novel Out of the Silent Planet (1938), in which his hero, Elwin Ransom, a Cambridge philologist – another nod to Tolkien – is summoned to Venus to prevent a second fall. Although it was published in 1950, The Lion, the Witch and the Wardrobe begins with four children being evacuated to the countryside to escape the London blitz. In setting his stories in outer-space or the fantastical world of Narnia, Lewis could be accused of writing escapist fiction that avoided the realities of a world in conflict. Lewis, however, believed that the war had not created a new crisis, but rather brought into clearer focus an ever-present struggle between good and evil.  

For Lewis, the war did not present a radically different situation, but rather aggravated and clarified the human condition so that it could no longer be ignored. As he remarked in the second of his Broadcast Talks:  

‘Enemy-occupied territory – that is what this world is. Christianity is the story of how the rightful king has landed, you might say landed in disguise, and is calling us all to take part in a great campaign of sabotage’.  

The key point, writes Screwtape, is to fix the patient’s attention on ‘real life’ – but don’t let him question what he means by ‘real’. 

Lewis’s message to a country living in fear of occupation by German troops was that the invasion had already happened. They had been summoned not to their country’s defence, but to its liberation. When the Pevensie children stumble into a snow-covered Narnia under the control of the tyrannical White Witch, they are told in hushed whispers of the rumours of Aslan’s return: ‘“They say Aslan is on the move—perhaps has already landed.”’ It is a reminder that Aslan enters Narnia as a rebel, intent on overthrowing the Witch and installing the rightful kings and queens on the thrones of Cair Paravel.  

The Screwtape Letters do not ignore the war during which they were written; Wormwood’s patient is killed in the London bombing. But, for Screwtape, a war is of no value unless it results in winning souls for his Father Below. His advice to his nephew is concerned with diverting the patient from engaging with universal questions by distracting him with everyday preoccupations and sense experiences. While these might involve the immediate conflict, they could also be the excitement of a new romance, a falling out with a friend, the prospect of promotion, or an obsession with food. If the patient should begin to speculate about spiritual matters, Screwtape advises Wormwood to deflect him with academic theories and philosophies that avoid confronting the question of whether the Christian faith might actually be true. The key point, writes Screwtape, is to fix the patient’s attention on ‘real life’ – but don’t let him question what he means by ‘real’. It is ironic, Screwtape observes, that, while mortals typically picture devils putting ideas into their minds, their best work is done by keeping things out.  

Despite numerous requests for sequels, Lewis was reluctant to twist his mind back into the ‘diabolical attitude’ and revisit the spiritual cramp it produced. Numerous spin-offs have appeared to fill the void, with Screwtape emails, audio and stage performances and even a Marvel comic book adaptation. Despite this, readers continue to turn to the original work. After all, Lewis’s depiction of hell as an unscrupulous business concern, whose employees are perpetually concerned about their own status, nursing grievances and resentment, speaks to our modern age just as much as it did to Lewis’s own. 

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Culture
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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.