Article
Attention
Culture
Digital
Ghosting
Psychology
5 min read

Ghosting is not immature, it’s plain cruel

The dehumanising behaviour hiding in plain sight.

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

On a dark street someone checks their mobile phone for messages.

‘Do you really believe that the moon only exists when you look at it?’ 

It’s a great question. Do you know who asked it? It sounds rather Shakespearean, doesn’t it? It’s got a touch of the – ‘that which we call a rose by any other name would smell as sweet’ - about it. 

But not so.  

Interestingly, it was Albert Einstein who asked this question. He asked it again and again – unable to relax into any answer his contemporaries could offer him. He thought, at least initially, that he was asking a question about quantum physics. But he wasn’t; not really. Einstein was asking what it means to exist, what it means to be. 

And that means that he was actually asking a theological question. And I, for one, would appreciate it if we would get into the habit of asking it too, just phrased a little differently. I’d like us to ask something a little like:  

Do you really believe that the person only exists when you text them back?’ 

Yes, I’m imploring us all to take an Einstein-esque approach to the phenomenon of ‘ghosting’.  

Ghosting, just to make sure that we’re all one the same page, is the act of abruptly and completely cutting off all forms of contact with another person, offering no form of prior warning nor any kind of subsequent explanation. To ghost someone is to perform a social cut and run, a relational dine-and-dash, if you will. This, of course, can happen in all kinds of contexts – in work situations, in friendships, and in the most niche of circumstances. There’s an incredibly popular podcast, the title of which – ‘My Therapist Ghosted Me’ - is a tongue in cheek reference to one of the presenters being inexplicably cut off by their own therapist. Ouch.

And so, ghosting causes a social injury, it inflicts a heart wound. Being ghosted, we are coming to realise, is a rejection of the most absolute kind.

But where this phenomenon is reaching astounding heights is in the context of romantic relationships. The technological age in which we live, where the majority of romantic relationships are now being initiated and established online, has meant that we’ve got ghosting down to a fine art. It’s become all too easy. And apparently, nobody is immune.  

Just recently, Billie Eilish – Oscar and Grammy award winning musical genius and all-round cultural icon - explained how she had recently been the victim of an almighty ghosting. She said,  

‘it was insane. I was like – “did you die? Have you literally died?” It was somebody that I’d known for years, we had a plan (to meet) and the day of… nothing. I never heard from him again.’ 

Imagine being ignored so suddenly and completely that your first instinct is that the person must have died, only to realise – they hadn’t died, you were just disposable to them. This is happening all of the time, there’s a generation of people who are having their sense of self and of the ‘other’ defined by this very phenomenon. 

What’s incredibly interesting is that in the span of a few short years, psychologists and relationship therapists have gone from speaking of ‘ghosting’ in terms of emotional immaturity, conflict avoidance and a lack of communication skills, to regarding it as a form of cruelty and even abuse.  

It is not primarily the intent of the ‘ghost’ that is causing psychologists to speak of ghosting in increasingly serious terms. Most ‘ghosts’ are cowardly, perhaps, but not sheer evil. Rather, it is the extraordinary depths of hurt that the behaviour inflicts (intended or not) upon the person who has been victim to it.  

We are learning that there are all manner of harmful things that ghosting does to our brains and all kinds messages that it sends to our self-esteem. Namely, that we weren’t enough for that person, that we’ve failed somehow, that we’re disposable, that we misread the situation, that we misread them, that we’re deficient in almost every kind of way.  

These lies inevitably fill the gaps left by the silence of the other person. False explanations, usually of the most self-depreciating kind, take advantage of that fact that no explanation was offered by the person who hurt us. The bewilderment itself becomes a form of torture. And so, ghosting causes a social injury, it inflicts a heart wound. Being ghosted, we are coming to realise, is a rejection of the most absolute kind.  

Ghosting is the symptom of a society in which we kid ourselves into thinking that people only come to life when our thoughts turn to them or our eyes rest on them.

But I think there’s even more to it. And this is where I return to Einstein’s question, and my modern, admittedly much less cosmic, re-imagining of it. Because underneath it all, I think that ghosting is a theological issue.  

To ghost someone is to act as if they do not exist because you have averted your gaze from them. It is, therefore, to deprive them of the fullness of their existence. Or, at least, to deny it. It is an act of deep diminishment. Do we really believe that the moon only exists when it is looked upon? Ghosting forces us to similarly ask – do we believe that we only exist when we are looked upon?  

So, you see, it goes deep. It cuts to the core of what it means to be.  

Ghosting is the symptom of a society in which we kid ourselves into thinking that people only come to life when our thoughts turn to them or our eyes rest on them. If we can’t see the suffering we’ve caused, it isn’t happening. If we’ve cut someone out of our life, they aren’t existing. At least, we can behave as if they aren’t.  

One could argue that it’s a form of dehumanization, one that’s hidden in plain sight.  

And that, alongside all of the other reasons (or perhaps undergirding them), is the reason that I think being ghosted cuts us to the core; it brings into question the very reality of our existence.  

‘Do you really believe that the moon only exists when you look at it?’ 

Einstein’s question may feel a little abstract but it’s actually as tangible and personal as it gets. 

Article
Culture
Economics
Ethics
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.