Review

Culture

Film & TV

Migration

5 December 2024

4 min read

What do Moana and Paddington have in common?

Families, destinies, and the voyage between.

Krish Kandiah

Krish is a social entrepreneur partnering across civil society, faith communities, government and philanthropy. He founded The Sanctuary Foundation.

A cartoon still shows a nightscape at sea with a Polynesian style vessel above, with Moana standing on it sailing above a whale illuminated by bioluminescence

Disney.

Watching Moana 2 in a packed cinema filled with little girls giggling with excitement at every slapstick moment in the film was the highlight of my weekend. It was Saturday afternoon and my foster daughter and I found ourselves surrounded by several birthday parties of local children, many dressed up in leis and straw skirts, and exuding the sun-kissed tropical holiday vibe.

I wasn’t expecting much from this sequel beyond a welcome reunion of characters from the original film, and I was certainly right not to raise my hopes when it came to the songs – they pale into obscurity in comparison to the excellent soundtrack of the first film. However, Moana 2 definitely put the wind in my sails - as well as made me reconsider getting a tattoo.

Having just seen Paddington in Peru, released two weeks earlier, I couldn’t help but notice the similarities. Two much-loved characters, two long-awaited sequels, and two films about origin story journeys. While the Peruvian bear crosses one ocean following a letter from his Great Aunt Lucy, Polynesian Moana crosses another following a more supernatural call from her ancestors. Both find themselves in small boats on dangerous waters, wondering if they’ll ever find their long-lost family, and what sort of welcome awaits them.

The quest to discover family roots seems to resonate widely – but for children in foster care it is especially pertinent. There is a very moving moment in Paddington in Peru where he asks himself where he really belongs – the place where he was born, or the place he has come to see as home?

The tension in Moana is similar - between the home she’s left behind, and the connection she is trying to find with her ancestors. Her quest for identity and purpose lies at the heart of the movie. As Maui sings: “Who are ya? Who are ya? Who are ya gonna be? Come on-a, Moana – go get your destiny.”

These travellers aren't seen as strange outsiders or potential threats; instead, they're embraced as long-lost family. Their treacherous journeys are honoured, not criticised.

Both my father and my father-in-law have spent a lot of time documenting our family histories. On my side of the family, I have historical connections with Sri Lanka, India, Ireland, and Malaysia, and cousins who have recently made their homes in Australia and Cambodia. On my wife’s side of the family, there are direct descendants of the Huguenots, who found sanctuary in England after fleeing religious persecution in France in the sixteenth and seventeenth centuries.

It is both fascinating and heart-breaking to discover how our lives are part of a history of global people movements, and the struggles that they inevitably bring with them. I grew up hearing stories of my Indian grandmother’s tragic separation from her children after her husband – an English tea plantation owner – was killed in El Alamein in World War Two. I grew up hearing stories of my mother being sent out barefoot to collect water for the orphanage in the Himalayas where she lived. I grew up hearing stories of my father who as a child, 5,000 kilometres away from my mother, was woken at 5am each day to be taken to the temple.

However difficult it is for me to imagine, their stories are part of my story. And they in turn are part of an even bigger story that offers a wider explanation not only of where we come from but where we are going. Ancestors such as Abraham, Moses, and David call us to reconnect with our family roots – and with God himself.

Moses puts it like this in a song that was passed down through the generations and recorded in the Psalms:

Lord, you have been our dwelling place throughout all generations. Before the mountains were born or you brought forth the whole world from everlasting to everlasting you are God.

For me, the quest to find out who I truly am, where I come from, where I belong, and what my destiny might be, – led me to become a Christian. In searching for identity, meaning, and purpose, I realized that "home" for me meant coming home to God.

From Abraham's journey to my parents' migration, my family's story has always been one of movement, separation, and finding belonging. Now, in my work with refugees around the world, I feel a deep personal connection not just to my own ancestors' experiences but to all those who share similar stories of displacement and hope.

That's why I loved the powerful moment in Moana 2 when a fleet of small boats arrive on the shores of a distant land to a rapturous welcome. These travellers aren't seen as strange outsiders or potential threats; instead, they're embraced as long-lost family. Their treacherous journeys are honoured, not criticised or dismissed as we often see in today's responses to migrants.

Moana is recognized as a master navigator, and, true to Polynesian custom, receives a tattoo to mark her achievement—a symbol of pride, resilience, and belonging. Her tattoo also possibly indicates that she is being set up as with demi-god powers for the trequel. But we have to wait to see if there will be a Moana 3. In the meantime, I highly recommend the film, especially if you have fostered children in your life, or fancy organising a Polynesian-themed party, or just need a healthy dose of girl-power inspiration. That should cover all of us.

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Article

Culture

Economics

Ethics

1 May 2025

1 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?

Laurence Fletcher

Laurence Fletcher is a journalist at the Financial Times.

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.