Psychoanalysis, money, and the global financial crisis
This collection of essays addresses the trauma of the global financial crisis, and debates the links between psychology, money and economic crashes.
Responding to the trauma of the current global financial crisis, this book brings together an eclectic group of psychoanalysts, philosophers, cultural theorists and historians to debate the links between psychology, money and economic crashes. It issues a double challenge -– to economists who define economic behaviour as necessarily rational and self-interested, while relegating other models of monetary thought to psychopathology; and to psychoanalysts who find it hard to confront the economics of their own profession as a business, while neuroticising and biologising any economic behaviour that exceeds their own unspoken yardstick of ‘commonsensical’ financial self-interest.
Contributors to this book investigate issues as diverse as: the century-old divorce between psychological and economic explanations of human behaviour and current efforts to repair it; the gender-politics, ethics and psychology of economists’ attempts to explain today’s rolling crisis in money markets; psychoanalytic theories of financial investment, risk and the ‘jouissance’ of devastating loss; the rise and cataclysmic fall of Bernie Madoff’s Ponzi scheme; the squandering of fortunes on rubbishy art in times of financial crisis; the attraction of Deleuzian speculation versus Freudian investment; the nexus between political economy and libidinal economy; the mystifying effects of treating ‘the market’ as a subject capable of ‘speaking’, ‘reacting’ and ‘punishing’; and the fate of desire in postmodern, hyper-commoditised culture.
A number of the essays in this book are based on contributions to the conference on Psychoanalysis, Money and the Economy hosted by the Freud Museum at Birkbeck College, University of London, in 2010, which were subsequently collected in new formations 72.
Part I. Psychoanalysis and Financial crisis
1. Homo Oeconomicus vs Homo Psychologicus: A Critique of Pure Reason in Economics and Psychoanalysis - David Bennett
2. The Financial Crisis: A Psychoanalytic View of Illusion, Greed and Reparation in Masculine Phantasy - Karl Figlio
3. Analysand and Analyst in the Global Economy, or Why Anyone in their Right Mind Would Pay for an Analysis - Bruce Fink
4. Customer Satisfaction Guaranteed: A Lacanian Reading of the Bernie Madoff Scandal - Manya Steinkoler
5. Beyond (Good) Investment and (Evil) Speculation - Claire Colebrook
6. What a Waste of Money: Expenditure, the Death Drive, and the Contemporary Art Market - Paul Crosthwaite
Part II Psychoanalysis, Money and the Economy
7. What Kind of Subject is the Market? - Campbell Jones
8. The Meaning of Money: Russia, the Ruble, the Dollar and Psychoanalysis - Viktor Mazin
9. Psychoanalytic Reflections on the Nature of Money: Authority, Regulation of Standards, and the Law of the Father - Tan Waelchli
10. Pleasure and Pain: At the Crossroad of Psychoanalysis and Political Economy - Jean-Joseph Goux
11. Financial Crisis, Social Pathologies and ‘Generalised and Matt Sharpe Perversion’: Questioning Žižek’s Diagnosis of the Times - Geoff Boucher
12. Psychoanalysis, Antisemitism and the Miser - Stephen Frosh
13. Pharmacology of Desire: Drive-Based Capitalism and Libidinal Dis-economy - Bernard Stiegler