Article
Comment
Economics
Politics
Trust
5 min read

Tariffs destroy trust so where do we go next?

Blunt weapons cause a mess in markets and lives.

Paul Valler is an executive coach and mentor. He is a former chair of the London Institute for Contemporary Christianity.

A gold coin with the DOGE dog on it, lies over the face on a $50 bill.
So doge-y.
Kanchanara on Unsplash

‘When America sneezes the rest of the world catches a cold’ quipped economists almost a century ago after the Wall Street crash.  A comment that might equally apply to the more than 10 per cent drop in stock markets caused by President Trump’s sudden raised tariffs on imports to the USA.  The impact of the American economy on the world is inescapable.  It represents almost a quarter of global GDP and the dollar is the leading reserve currency, accounting for around 60 per cent of international foreign exchange reserves.  Size is what enables America to bully the rest of the world. 

For decades the American trade deficit has been an elephant in the room and Trump is to be applauded for recognising it and addressing the problem. Unfortunately, the way he has gone about it has caused another, bigger problem. Changing the direction of the global economy is like turning a tanker, it cannot be done easily or quickly, but Trump’s style is to attack, like hammering at a nail.  Every issue in geopolitics looks like another nail, waiting for him to hammer out a negotiated deal.  Full marks for courage, but not for wisdom. The blunt weapon of trade tariffs is designed to bring wealth and power back towards the USA, but blunt weapons often cause a mess, and sure enough a global mess is what we now have.  A US/China trade war with higher prices that could end up stoking inflation and a government own goal.   

Panic selling of government bonds signalling a loss of confidence following Trump’s dramatic tariff boost is reminiscent of the impact of Liz Truss’ sudden and radical UK tax cuts, which were also driven by an ideology, but ended up as a wrecking ball.  Even some of Trump’s backers have warned of an economic nuclear winter.  In the long run, Trump has done the world a favour by highlighting a structural issue that needed correction, but his economically violent methods of addressing it look increasingly unwise.  If a global depression does happen on the back of all this, then coupled with the rise of autocratic and belligerent leadership, we would face a worrying parallel to what happened in the 1930s when the world eventually slid into war.   

Tariffs are like walls, barriers to cooperation and the epitome of economic selfishness.  Make America Great Again is selfishness writ large - a society pursuing wealth and power without the cohesive framework of values that are so essential to cooperation and community wellbeing.  A psychology of self-centredness that damages relationships at the national level.  This is what I find most concerning about Trump’s approach; not just the economics but the long-term legacy of relational damage that could last well beyond his Presidential term. 

Our fears reveal just how much we trust in wealth above everything else, and how much the fear of scarcity affects our mental health.

Michael Schluter in his book The Relational Lens defines five principles, or measures, of relational health.  They are directness, parity, common purpose, continuity and breadth.  Applying those five measures helps us see why Trump’s tariffs are the polar opposite of relational.  He introduced these escalating penalties remotely and not in face-to-face negotiations.  Exploiting the power of America instead of showing respect for the status and needs of other nations.  Tariffs have no common purpose with other countries, only a selfish agenda.  There is no continuity with previous trading protocols.  And it is all purely financial, with no reference to the broader holistic impact.  All in all, a relational disaster.   

Despite living in the ‘first world’ we remain gripped with fear of loss.  Our fears reveal just how much we trust in wealth above everything else, and how much the fear of scarcity affects our mental health. Markets are not entirely rational; they are driven by algorithms that stem from this psychology of greed and fear.  Emotions and trading swing wildly with a herd instinct that often drives behaviour.  As Rabbi Jonathan Sachs said:  

‘Markets have no moral compass; we have outsourced morality to legislation by the State.’   

But the worry now is that the current US administration shows signs of ignoring morality and even riding roughshod over the courts.  No wonder people feel afraid. 

Where can we find hope in all this turmoil?  Is there a better response than gritted teeth and the mantra: ‘this too shall pass’?  I think so.  There is life beyond the market.  Jesus said: ‘life does not consist in an abundance of possessions.’  We can choose to step back and look at all this with the true perspective that money isn’t everything.  We can cultivate gratitude for what we do have.  We can learn contentment.  Yet I feel for those who have experienced financial loss, and don’t want to minimise the reality of hardship.  In fact, something important and practical all of us who are privileged can and should do is to be vigilant in watching out for those who are poor and disadvantaged.  To look after those with a real need for the basics of life and help them through this tough time when economic disruption could make life even harder.  For those with a faith this is part of working out how our faith makes a positive difference where we are. 

Perhaps the supreme irony of this crisis is President Trump’s insistence that Americans must trust him.  Ironic, because the one thing that his tariff actions seem to have undermined more than anything else is trust.  The trust that is essential to the functioning of both markets and civilisation as a whole.  Face to face discussions must be the way forward now, to rebuild trust and find more nuanced, mutual approaches to solving America’s trade deficit.   

There is one person we can always trust though, and his name is written clearly on the American One Dollar bill. In God we trust. Let’s pray that Trump and his America returns to that imperative and turns back to a more Christ centred philosophy of loving our neighbour as ourselves, reflected in a more bilateral approach to diplomacy and agreement.

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Article
Character
Culture
Idolatry
Psychology
6 min read

We need a sense of shame - but need mercy even more

Shame may be necessary, but only if it can be defeated

Belle is the staff writer at Seen & Unseen and co-host of its Re-enchanting podcast.

Frankstein stares our from his covered face.
Jacob Elordi plays Frankenstein's monster
Netflix.

I’ve been thinking about the nature of shame a lot recently. Both professionally and personally, it’s a topic that is demanding my attention. It’s following me around, insisting that I look it in the eye, shoving and nudging me – taunting and tempting me to finally snap and wrestle it to the ground. I guess that is the very nature of shame, isn’t it? It’s always so stubbornly there.  

I’ve also noticed that it seems to have elbowed its way into cultural conversations; it’s been putting a real PR shift in, seeking rehabilitation in public discourse.  

The actor, Jacob Elordi, was recently interviewed by the Wall Street Journal. Kind of interesting, kind of not. The sliver of it that really caught my attention was when the interviewer asked Jacob,  

‘What’s one lost art that you wish would come back in style?’  

To which Elordi replied,  

‘The art of shame. I wish people could experience shame a little heavier’.  

Gosh.  

It makes sense that this was Jacob’s answer; the interview was conducted to promote Frankenstein, Guillermo Del Toro’s new movie in which Jacob Elordi plays Frankenstein’s monster. So, I get it. He’s been consumed with what components make up a monster, endeavouring to literally turn himself into one. He’s been ruminating on the recipe of evil, and perhaps he’s found one key ingredient – shamelessness. Maybe Jacob, having dwelt on such, has subsequently looked out at the not-so-fictional ‘monsters’ wreaking havoc and has diagnosed the same thing, a distinct lack of shame.  

It's a solid thesis.  

It reminded me of another recent interview, this one with the acclaimed author, Zadie Smith. She said,  

‘Shame gets a bad rap these days. I think it’s quite a useful emotion, corrective on certain kinds of behaviour… I assume people – including myself – are just deeply, deeply flawed. And so, shame is usually quite appropriate on a day-to-day level… shame is a kind of productive thing to create change. I guess I do believe that. I know it’s definitely a Christian emotion, that’s why it’s so out of fashion. But I always thought it quite productive in the gospels, that idea that you assume that you are entirely in sin. I always assume that.’  

I half agree with both Jacob and Zadie. In a way, I’d be a fool not to. Not to mention, proof of their thesis. 

I cannot deny that I am, as Zadie points out, deeply, deeply flawed. There is a crack in everything I do, a fracture in all my best intentions. And yours, too, I’m afraid (but I have a feeling you know that). There is a brokenness to us, a breaking-things-ness. To each and every one of us, ‘hurt’ is both an adjective and a verb – something we feel and something we do. The things I want to do, I never manage. The things I don’t want to do, I seem to manage every day. I am falling short, missing the mark – I am so fallibly human.  

To acknowledge such is not only obvious, nor is it simply ‘useful’, as Zadie suggests. It’s inherently spiritual, it’s paradigmatic. 

Last summer, I hosted an event at which Francis Spufford, one of my most cherished wordsmiths, playfully quipped, ‘I’ve heard original sin (the notion that we are, as Zadie notes ‘entirely in sin’) described as one of the few theological propositions which you can actually confirm with the naked eye’. ‘Sin’, Tyler Staton similarly writes, ‘is simultaneously the most controversial idea in Christianity and the one most universally agreed upon’.  

There’s something deeply wrong with the world. We all know that.  

Which, presumably, is what Jacob Elordi is getting at – he’s observing bad people not feeling bad enough about the bad that they do, or worse still, the bad that they are. A healthy dose of shame is the medicine that this world needs, he suggests. 

Oh Jacob, I sympathise with that. The thing is, I have a hunch that the presence of shame makes as many monsters as the absence of it.  

And Zadie, I wonder if shame births as much destruction as it does ‘correction’.  

While I agree with you both that, in a world as broken as ours, shame needs to exist in some form or another, it also needs an antidote. It’s a dangerous substance; toxic and destructive. Don’t let it fool you, don’t be over-generous to it – shame may (in its most moderate and appropriate forms) be an acknowledgment of the disease, but it is not the medicine. It could only ever be ‘useful’ if it is, ultimately, defeatable.  

At least, that’s my – admittedly very Christian – conviction. That’s my take. I can’t pretend that it’s not as theological as it is sociological in its underpinnings. 

I’m relatively new to the liturgical aspects of my own faith tradition (that is, the formalised scripts, actions and rituals that have long fuelled religious experience) , so I have the pleasure of not being numb to them. When I read the ancient words of ancient prayers, they shoot right through me, particularly these ones:  

‘Almighty God, our heavenly Father, we have sinned against you and against our neighbour in thought and word and deed, through negligence, through weakness, through our own deliberate fault...’ 

Ouch.  

As I read those words, week in and week out, my brain creates a helpful montage for me – whirring through the countless ways in which I have failed – in what I think, what I say, what I do. I’m confronted with the ways that my breaking-things-ness has leaked out of me through my negligence, it’s spilled out of my weakness, the force of it directed at others through my own deliberate fault.  

Oh yes, I’m well acquainted with the emotion of shame.  

But the only thing productive/appropriate/corrective about falling on my face in shame, is that there is a mercy that can scoop me up. It’s not hopeless, you see? There’s a mend-ability. There’s an antidote to shame; there’s a balm for its burn. There’s a bewildering love that banishes shame from within me – there’s a rescue route from its toxic spiral.  

The moment that shame is acknowledged, its presence verbalised, its power felt – is the very moment it needs to be neutralised. It cannot fester, it cannot be afforded the loudest, nor the last, say.  

And so, to Jacob Elordi’s interesting wish – that ‘people could experience shame a little heavier’, and to Zadie Smith’s fascinating thesis that ‘shame is a kind of productive thing to create change’- I hear you. I see what you’re getting at. But I can only ever wish people to experience the heaviness of shame if it means that they are more sensitive to the feeling of it being undeservedly lifted off them. That’s where change happens. That’s the medicine.  

So, Jacob and Zadie, let’s agree to half-agree on this one, shall we?  

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Since Spring 2023, our readers have enjoyed over 1,500 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.

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