The shallow metallic mound on the stage,
resembling an unusually but not impossibly large cowflop, is composed
of ten thousand one-pound coins; when writer/director Clare Duffy won
an award, she decided to put the money onstage in the most literal
sense. (It is accompanied, as an insurance condition, by a security
guard.)
This is the principal prop of an evening in which two supposed former
hedge fund managers explain the money market to us in a playful,
interactive fashion. The process of first accumulating a stake, then of
going long or short, and of hedging, is illustrated by party-type games
involving members of the two “teams” into which the entire audience has
been split. It all rather suggests that the term “casino banking” may
be over-dignifying the activity. If this sounds over-reductive, the
games alternate with dramatic scenes enacting the build-up to, and
aftermath of, the 2008 catastrophe. Duffy’s co-producers
(“co-investors”, as they are referred to here) Unlimited Theatre
specialise in what might be called explanatory theatre, and
Money credits a number of
finance-sector consultants including this paper’s Jonathan Ford.
When William Gibson created his fictional forerunner of actual
cyberspace in 1982, he described it as a “consensual hallucination”.
This has always struck me as an equally fine description of the concept
of money, and characters Queenie and Casino repeatedly observe that
money works as an index of value only because, and to the extent that,
we believe it does. (It is also a kind of Tinkerbell: clap hands, boys
and girls, if you believe in currency.) Interestingly, the least
dramatically satisfying segment of the show is the final 20 minutes or
so, which also comprise the most unalloyed “dramatic” section (the
games are over) and which moreover describes where we are now; it is as
if we can accept the absurdity of the boom and bust but not the
uncertainty and foreboding of the last few years. The prevailing
Chicago-school orthodoxy is hardly even alluded to, never mind
questioned, but it is a telling analogy to portray the period post-2008
as the zombie apocalypse of capitalism.
Brian Ferguson and in particular Lucy Ellinson marshal the audience
well to keep us engaged through both the playful examples and, so to
speak, the footnotes. However, I can’t help thinking that, of everyone
in the room, I had the most fun job: reviewing that particular show for
this particular page.
Written for the Financial
Times.