At the end of the first century of psychoanalytic theory and therapy, this paper takes critical stock of its past performance as a theory of human nature, and as a therapy. An account of the distinction between the dynamic and cognitive species of unconscious is followed by a critique of Freudian and post-Freudian psychoanalysis, as well as by an unfavorable verdict on the reconstruction of psychoanalysis by the “hermeneutic” philosophers. Concluding remarks assess the future prospects of psychoanalysis in the 21st century.