Tuckett David, Taffler Richard
Psychoanalysis Unit, Research Department of Clinical, Educational and Health Psychology, UCL, Gower Street, London WC1 6BT, UK.
Int J Psychoanal. 2008 Apr;89(2):389-412. doi: 10.1111/j.1745-8315.2008.00040.x.
This paper sets out to explore if standard psychoanalytic thinking based on clinical experience can illuminate instability in financial markets and its widespread human consequences. Buying, holding or selling financial assets in conditions of inherent uncertainty and ambiguity, it is argued, necessarily implies an ambivalent emotional and phantasy relationship to them. Based on the evidence of historical accounts, supplemented by some interviewing, the authors suggest a psychoanalytic approach focusing on unconscious phantasy relationships, states of mind, and unconscious group functioning can explain some outstanding questions about financial bubbles which cannot be explained with mainstream economic theories. The authors also suggest some institutional features of financial markets which may ordinarily increase or decrease the likelihood that financial decisions result from splitting off those thoughts which give rise to painful emotions. Splitting would increase the future risk of financial instability and in this respect the theory with which economic agents in such markets approach their work is important. An interdisciplinary theory recognizing and making possible the integration of emotional experience may be more useful to economic agents than the present mainstream theories which contrast rational and irrational decision-making and model them as making consistent decisions on the basis of reasoning alone.
本文旨在探讨基于临床经验的标准精神分析思维能否阐明金融市场的不稳定及其广泛的人类后果。有人认为，在内在不确定性和模糊性的情况下买卖、持有或出售金融资产，必然意味着与这些资产存在矛盾的情感和幻想关系。基于历史记载的证据，并辅以一些访谈，作者们认为，一种关注无意识幻想关系、心理状态和无意识群体功能的精神分析方法，可以解释一些主流经济理论无法解释的有关金融泡沫的突出问题。作者们还指出了金融市场的一些制度特征，这些特征通常可能增加或降低金融决策源于分离那些引发痛苦情绪的想法的可能性。分裂会增加未来金融不稳定的风险，在这方面，此类市场中的经济主体开展工作所依据的理论很重要。一种认识到情感体验并使其整合成为可能的跨学科理论，可能比目前将理性决策与非理性决策进行对比并将其建模为仅基于推理做出一致决策的主流理论，对经济主体更有用。
