Explainer
AI
Culture
Digital
6 min read

Tech has changed: it’s no longer natural or neutral

The first in a three-part series exploring the implications of technology.

James is Canon Missioner at Blackburn Cathedral. He researches technology and theology at Oxford University.

A caveman holding a hammer looks at a bench on which are a broken bicycle and a laptop.
Nick Jones/Midjourney.ai.

My son was born in February last year and it seems that every day he is developing new skills or facial expressions and adorable quirks. Just the other day he was playing with some wooden blocks and when they inevitably fell over, he let out the most adorable giggle. As you can guess I immediately reached for my phone so that I could capture the moment. Moments like this happen all the time in the life of a modern parent- we want to share with our spouse, family, and friends or just capture the moment for ourselves because it’s something we treasure. And yet, in this series of articles I would like to consider this moment, and the thousands like it that take place in a technological society, and ask: is everything as benign as it seems? 

There are two ideas that often come up whenever people talk about technology. The first is that technology is basically ‘neutral’, that technology only becomes good or bad depending on what you are doing with it. “Look at a hammer,” someone might say, “there is nothing intrinsically good or bad about this hammer, only the end result is good or bad depending on whether I’m using it to hit nails or people!” On this reading of technology, the only important questions relate to the consequences of use.  

If technology is neutral, then the primary concern for users, legislators and technologists is the consequences of technology, and not the technology itself. The only way to ensure that the technology is used for good is to ensure, somehow, that more good people will use the technology for good things than bad people using it for bad things. Often this idea will present itself as a conversation about competing freedoms: very few people (with some important exceptions, see this article from Ezra Klein) are debating whether there is something intrinsically problematic about the app formerly known as Twitter, most discussion revolves around how to maintain the freedom of good users while curtailing the freedom of bad users. 

We assume that these tools of social interaction like Facebook and Instagram are, in and of themselves, perfectly benign. We are encouraged to think this by massive corporations who have a vested interest in maintaining our use of their platforms, and at first glance, they seem completely harmless: what could possibly be the problem with a website in which grandma can share photos of her cat? And while the dark underbelly of these platforms has violent real-world consequences – like the rise of antisemitism and anti-Muslim hatred – the solution is primarily imagined as a matter of dealing with ‘bad actors’ rather than anything intrinsically problematic with the platforms themselves. 

Jobs here draws a straight-line comparison between the bicycle and the PC. As far as Jobs is concerned, there is no quantitative difference in kind between the two tools.

The second idea is related but somewhat different: Advocates of modern technology will suggest that humanity has been using technology ever since there were humans and therefore all this modern technology is not really anything to worry about. “Yes, modern technology looks scary,” someone might say, “but it’s really nothing to worry about, humans have been using tools since the Stone Age don’t you know!” This view proposes that because hammers are technology, and all technology is the same, there is, therefore, no difference between a hammer and the internet, or between the internet and a cyborg.  

This second idea tends to be accompanied by an emphasis on the slow and steady evolution of technology and by highlighting the fact that at every major technological advancement there have been naysayers decrying the latest innovation. (Even Plato was suspicious of writing when that was invented). Taken as part of a very long view of human history, the technological innovations of the last 100 years seem to be a normal and natural part of the evolution of our species which has always set itself apart from the rest of the animal kingdom in its use of technology. 

Steve Jobs gives a good example of this in an interview he gave about the development PC: 

“I think one of the things that really separates us from the high primates is that we’re tool builders. I read a study that measured the efficiency of locomotion for various species on the planet. The condors used the least energy to move a kilometer. And humans came in with a rather unimpressive showing about a third of the way down the list… not too proud of a showing for the crown of creation… But then somebody at Scientific American had the insight to test the efficiency of locomotion for a man on a bicycle. And a human on a bicycle blew the condor away – completely off the top of the charts. 

And that’s what a computer is to me… It’s the most remarkable tool we’ve ever come up with… It’s the equivalent of a bicycle for our minds”  

Notice that Jobs here draws a straight-line comparison between the bicycle and the PC. As far as Jobs is concerned, there is no quantitative difference in kind between the two tools: one is more complex than the other but otherwise, they are just technologies that expand human capacity. “A Bicycle for our minds” is a fascinating way to describe a computer because it implies that nothing about our minds will be changed, they’ll just be a little bit faster. 

And yet, despite the attempts of thought leaders like Jobs to convince us that modern technology is entirely benign, many of us are left with a natural suspicion that there is more going on. As a priest in the Church of England, I often have conversations with parishioners and members of the public who are looking for language or a framework which describes the instinctive recognition that something has changed at some point (fairly recently) about the nature of the technology that we use, or the way that it influences our lives. That modern technology is not simply the natural extension of the sorts of tools that humans have been using since the Stone Age and that modern technology is not neutral but in significant ways has already had an effect regardless of how we might use it. How do we respond to such articulate and thoughtful people such as Steve Jobs who make a compelling case that modern technology is neutral and natural?  

I often have conversations with parishioners who are looking for language or a framework which describes the instinctive recognition that something has changed about the nature of the technology that we use, or the way that it influences our lives.

Thinking back to that moment with my son when he giggles and I take a photo of him, at first glance it seems completely innocuous. But what resources are available if I did want to think more carefully about that moment (and the many like it) which suffuse my daily life? Thankfully there is a growing body of literature from philosophers and theologians who are thinking about the impact of modern technology on the human condition.  In the next two articles I would like to introduce the work of Martin Heidegger, outline his criticism of modern technology, showing how he challenges the idea that technology is simply a natural extension of human capacity or a neutral tool.  

Heidegger is a complex character in philosophy and in Western history. There is no getting around the fact that he was a supporter of the Nazi Party during the second world war. His politics have been widely condemned and rightly so, nevertheless, his insights on the nature of modern technology continue to this day to provide insights that are useful. His claim is that modern technology essentially and inevitably changes our relationship with the world in which we live and even with ourselves. It is this claim, and Heidegger’s suggested solution, that I will unpack in the next two articles. 

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.