Money & Finance – followthethings.com

“Inside Job“
A documentary film directed by Charles Ferguson, produced by Charles Ferguson, Audrey Marrs & Jeffrey Lurie & narrated by Matt Damon for Mongrel Media & Sony Pictures Classic.
Official trailer embedded above. Search online to watch the full movie here.

In the wake of the Global Financial Crisis of 2008, filmmaker Charles Ferguson sets out to find out how and by whom it was caused. This involves understanding and explaining complex financial instruments (like sub-prime mortgages and collateralised debt obligations), the governance of international finance and its deregulation (and its consequences), eye-watering banking losses (over $20 trillion), the organisations and individuals responsible for this happening (in financial services, government, academia) and the people plunged into poverty and homelessness after defaulting on their mortgages. The complexity is explained clearly in the film by narrator Matt Damon. And by the talking heads who Ferguson recruits to talk about what happened, their role in it, how they see their responsibilities, why so much public money was spent bailing them out, and why none of them went to jail. For many audience members, it’s shocking to see executives explaining how business works on camera. The logics and passions that drive their work, and the values that they express, can seem removed from the world, callous and dehumanising. But the experts who come out of this film looking worst are the academic economists. One of the biggest impacts of this film is the way that it encourages university business schools to look more closely at their ethics. Who are economists working for, and how responsible is their education of new generations of economists if their ideas remain unchanged after the Crisis? This is another example showing how important and how difficult it is to ‘follow the money’. But like any following study, it’s also about the ways that responsibility – in this case, for a colossal economic injustice – is understood, shared, taken. And where it isn’t. The solution sees obvious to many – regulation! But it’s not happening. If one film was going to cause a revolution, one commentor states, it would be this one. And this is just a taster page for this film. We’ll add much more detail later…

Page reference: Dom Ebbetts, Dave Simpson, Michael Brent, Mickey Franklin, Tommy Sadler & Charlie Timms (2024) Inside Job (taster). followthethings.com/inside-job.shtml (last accessed <insert date here>)

Estimated reading time: 12 minutes.

Posted on December 11, 2024January 6, 2025 by Ian Cook

Chrysal; Or, The Adventures Of A Guinea

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Money & Finance

CHOOSE THE RIGHT THING

CREATE A CHARACTER

START SOMEWHERE DIFFERENT

FOLLOW THE THING

LIE TO TELL THE TRUTH

MAKE THE HIDDEN VISIBLE

INVOLVE SOME CELEBRITIES

MAKE IT A MYSTERY

“Chrysal; Or, The Adventures Of A Guinea“
A 4 volume fictional book series by Charles Johnstone, the first two of which were originally published by T. Becket.
An 1821 version of Volume 1 is embedded in full above. Click here to read Volume 2, here to read Volume 3 and here to read Volume 4.

Here at followthethings.com we’re keen to appreciate the historical depth of our genre. Up until quite recently, we had traced everything back to Karl Marx’s chapter on the commodity (and commodity fetishism) in Capital Volume 1 which was first published in the 1860s. David Harvey’s teachings about Capital, and his appeals for geographers and otherS to get behind the veil of the commodity and tell the story of human reproduction were what encouraged us to do this work back in the day. But when you ask what inspired Marx, what literature was well known in his day, what had been written before, this impulse to know whose lives are connected by commodities goes back to the 1700s, to the birth of global capitalism (via empire), and to a genre of cheap and unglamourous ‘novels of circulation’. These make sense of this confusing, emerging world from the perspective of the commodities which were becoming part of its expanding consumer culture. There are dozens and dozens of these novels which we could choose to feature on our site, but the first one we want to add is this one – not least because it seems to have been one of the most popular and influential, but also because it’s about money – a commodity (and means of exchange) that academics have found more difficult to follow than most. This story is narrated by a gold guinea coin, starting from its mining in Peru and talking about its life connecting and witnessing the lives of a variety of people who earn, spend and steal it in different places. Because people aren’t careful what they do and say when a coin is covertly spying on them, the tales this coin tells – to an alchemist it meets at the end of volume one, who writes them down because coins can’t write – are scandalous. Some of the people whose lives are included were famous at the time, others were not. This book is both a scandalous exposé of the lives of famous people of the time and an ethical and moral tale about the emerging economic relations of capitalism and empire. It was inventive, eccentric and a huge popular hit. What would a commodity tell you about its life if it could talk? Here’s your answer! Commodities who can speak for themselves are very much part of trade justice activism today. There are lots of our examples on our site, but here’s one of the earliest. What can today’s activists learn from this? Here’s a taster. We’ll return to this later and add some more depth and detail.

Page reference: Ian Cook et al (2024) Chrysal; Or, The Adventures Of A Guinea (taster page). followthethings.com/chrysal-or-the-adventures-of-a-guinea.shtml (last accessed <insert date here>)

Estimated reading time: 11 minutes.

Posted on December 11, 2024January 5, 2025 by Ian Cook

Our New Commemorative £2 coin

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Money & Finance

“Our Commemorative £2 Coin“
Undergraduate coursework written by Mike Swan, Will Davies, Emma Christie-Miller, Becky Woolford, Meagan Wheatley, Maddie Redfern, Robbie Black, Lucy Webber, Jade Stevens, Katy Charlton & Tom Bollands (a.k.a Royally Minted).
Available in full below. Originally posted online here.

In 2010, students start the ‘Geographies of Material Culture’ by researching different examples of trade justice activism to add to the followthethings.com website (not all of them made it). Next, students who have researched different examples came together to create their own original examples of trade justice activism. They pick up some important ideas from their own research and what has already been published here on followthethings.com. They know the importance of looking beyond the usual suspects of follow the things activist – phones, fashion and food – and think about something they don’t think about, something that’s made by doesn’t have a ‘made in’ label, something that’s jangling in all of their pockets: coins. They know that they’re made of metal, but have no idea which ones or where they might be mined by whom. They’ve read about commodities embodying the labour of their creators, and being haunted by them. They’re carrying around, they’re spending, the labour of those mine workers. It’s easy to find which metals are in coins. The organisations that mint them tend to say so. And it’s not difficult to find newspaper, NGO and occupational toxicology research that profiles the labour that goes into mining these metals around the world, the multiple forms of pollution caused by this mining and the damage this does to people’s health, social structures and the environment. The group’s task is to think about how best to present their findings, to make those lives part of this thing, to insert those lives into the lives of coins and their transaction. 2010 sees the UK’s Royal Mint releasing a two commemorative £2 coins: to mark 150 years of modern nursing and the 100 years since the death of Florence Nightingale. The group – now calling themselves ‘Royally Minted’ – decide to design a third that will commemorate the labour that goes into mining those coins’ metals. They look at the Royal Mint’s commemorative coin webpages and mimic their format and content. It’s all very celebratory, very collectable. These students are particularly inspired by forms of activism – like the Suffragette Penny [see our page on this here] – which puts political issues into circulation on and as commodities. Money – with its unique status as a commodity and a means of exchange – is a perfect vehicle for political messages. If only the Royal Mint would commission this.

Page reference: Royally Minted (2010) Our New Commemorative £2 Coin. followthethings.com/our-new-commemorative-£2-coin.shtml (last accessed <insert date here>)

Estimated reading time: 15 minutes.

Posted on December 10, 2024January 7, 2025 by Mark

£20 Banknote

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Money & Finance

2009

BANK OF ENGLAND

£20 NOTE

SOURCED IN UZBEKISTAN?

CHOOSE THE RIGHT THING

“£20 Banknote“
Undergraduate coursework written by Oli Busk.

The students’ first task in the ‘Geographies of Material Culture’ module at the University of Exeter is to make a personal connection between their lives and the lives of others elsewhere in the world who made the things they buy. These are the people who help you to be you, followthethings.com CEO Ian tells them. So choose a commodity that matters to you, that’s an important part of your identity, that you couldn’t do without. Think about its component parts, its materials, and the properties they give to that commodity and your experience of ‘consuming it’. And write a 500 word first person account that connects your lives. One student – Oli Busk – has just got a £100 parking fine. He goes to the ATM to withdraw some cash, and then starts to think about what money is made from, its materials, its manufacture. Sure, there’s ways that it can be invested ethically and sustainability, but what about how its paper form is produced. The Royal Mint – which manufactures physical cash for the Bank of England – doesn’t say much about what it procures to make that cash. That would probably make it easier to make counterfeit money. So he indulges in some educated guesswork. There’s cotton in those notes, sooo … whose lives – apart from Queen Elizabeth – are in them? To his surprise, the hidden labour he finds is undertaken by students like him. And children.

Page reference: Oli Busk (2009) £20 Banknote. followthethings.com/£20-banknote.shtml (last accessed <insert date here>)

Estimated reading time: 8 minutes.

Posted on October 16, 2024January 5, 2025 by Ian Cook

Gold Farmers

followthethings.com
Money & Finance

TEACH ECONOMIC GEOGRAPHY

FLIP THE SCRIPT

USE YOUR PRIVILEGE

START SOMEWHERE DIFFERENT

BRING PEOPLE TOGETHER

JUXTAPOSE EXTREMES

SHOW BAD & GOOD

TRANSLATE & SUBTITLE

“Gold Farmers“
A documentary film written & directed by Ge Jin
Trailer embedded above. Search here for the whole film (sometimes uploaded in parts) online.

Travelling between China and USA, filmmaker Ge Jin talks to men who play Massive Multiplayer Online Role Playing Games (MMORPGs) like ‘World of Warcraft’ and ‘Lineage’. Its players in the USA sometimes exchange real dollars for the game’s online currency in order to pay for extra game features like swords or amulets. They could earn online currency themselves in-game but, instead, talk about buying it. But that currency is produced and sold by Chinese men who play the same games all day in ‘gold farms’ to make a meagre living. Their places of work are described as ‘virtual sweatshops’ where they earn and sell virtual money through the labour of online game-play. But – unlike most – these producers and consumers meet and interact (albeit online, in the games that they play). They inhabit in the same online worlds, but as consumers and workers, buyers and sellers. This documentary film is an early example of ‘follow the thing’ activism focused on a digital commodity. So what do these players imagine and know about one another? How is one’s enjoyable leisure time activity affecting another’s full time work?

Page reference: Jack Parkin (2012) Gold Farmers (taster). followthethings.com/gold-farmers.shtml (last accessed <insert date here>)

Estimated reading time: 11 minutes.

Posted on September 13, 2024January 26, 2025 by Ian Cook

Ilha Das Flores

followthethings.com
Grocery | Money & Finance | Recycle my waste

TEACH ECONOMIC GEOGRAPHY

SHOW CAPITALIST EVILS

START SOMEWHERE DIFFERENT

MAKE THE HIDDEN VISIBLE

MAKE IT FUNNY

TRANSLATE & SUBTITLE

“Ilha Das Flores (Island Of Flowers)“
A short film written, directed and produced by Jorge Furtado for Casa de Cinema de Porto Alegre, Brazil.
Embedded in full above. Search online to watch the film here. In Portuguese with English subtitles.

It sounds simple: filmmaker Jorge Furtado follows the life of a tomato from Mr Suzuki’s tomato field to a garbage dump ‘on the Island of Flowers’ in Porto Alegre, Brazil. Here, the rotten tomatoes binned in shoppers’ kitchens are selected to feed the local pigs. The leftovers are scavenged by local people who have queued for the chance. But, this no ordinary film. Its footage doesn’t always seem ‘real’. Its voiceover is eccentric but is delivered in monotone. It’s like an economic geography lecture – or a public information film – that’s been made for an audience visiting Planet Earth for the first time. It explains what a human being is, and what the function of money in capitalism is, for instance. It’s full of human beings whose tomato-connected lives audiences can learn a little bit about. It’s a collage made from quick cuts between filmed scenes, found media and ideas. There seem to be so many tangents. But, together, they gradually build a powerful argument that, ultimately, trashes the way that capitalism values people, animals and the environment. Humans who watched it called it a beautiful, hilarious and deeply troubling masterpiece. You’ll have to watch it to believe it. Maybe two or three times. It’s only 13 minutes long. It’s the only example of trade justice activism that we have found that follows a thing from the beginning to the end of its life. And it decentres the stereotypical shopper in fascinating and eccentric ways. But what is Jorge Furtado trying to achieve? What are his cultural reference points? Why is this highly political film presented as a kind of weird joke?

Page reference: Maura Pavalow (2025) Ilha das Flores. followthethings.com/ilhadasflores.html (last accessed <insert date here>)

Estimated reading time: 68 minutes.