Constitutive signifiers or fetishes in Shakespeare's the Merchant of Venice?

Assessments of psychodynamic structures and processes implicit in 'The Merchant of Venice' vary considerably according to whether Lacanian or object-relations tenets are applied. Aspects of the play resemble a pattern described in Lacan's seminar on E. A. Poe's story 'The purloined letter': the 'itinerary' of the 'signifier' represented by a roving letter in Poe's story closely matches in outline the adventures surrounding roving rings in Shakespeare's play. Using Poe's story as evidence, Lacan's seminar argues that human identity is a product of 'signifiers', and not vice-versa. This conclusion that human subjectivities are constituted by signifiers does not stand up well in relation to the power of the rings and other signifying physical objects appearing in Shakespeare's play and its source stories. Recently expanded understandings of Freud's ideas about fetishism better explain the often malevolent power of the play's many signifying physical objects. In these the essential potential for damage is to sound personal relations with inner and outer objects of love. Explanations emphasising that distorted object relations and damaged subjectivities may be redeemed accord well with the dramatic and poetic patterns of Shakespeare's play, indicating that it, while portraying painful dilemmas, is still a comedy.