What are Words Worth? Lacan and the Circulation of Money in the Psychoanalytic Economy*

Starting from a number of observations and clinical testimonials concerning the idiosyncratic manner in which Lacan charged for psychoanalytic treatment and supervision, this paper argues that the psychoanalytic economy, and a fortiori its Lacanian version, may easily be perceived as “worse than capitalism.” The patient pays high fees for work that he himself is expected to undertake without a guarantee of success, without a “return policy,” and without the intention of the patient benefitting from the treatment. Depending on the patient's transference, the analyst who, like Lacan, sets an exorbitant fee may be regarded as a charlatan or a wise master, yet the vexed issue of commensuration makes it impossible for psychoanalytic treatment to be placed on a scale of monetary value. This paper proposes that the analyst is accountable for explaining

the appropriateness of the fee in terms of maintaining the psychoanalytic economy of each case, not simply in terms of economic factors or narcissistic rewards.