Geld oder Leben? Psychotische Implikationen des Pensionsfondssystems

Journal Article or Monograph

Title: Geld oder Leben? Psychotische Implikationen des Pensionsfondssystems: Sozioanalytische Überlegungen zur Revolution der Finanzdienstleistungsindustrie
Year: 2003
Authors: Sievers, B.

The present Anglo-American pension funds system is based on totally different images of man, society, and social relatedness than the traditional social security systems and retirement schemes characteristic of welfare states in many European countries. This paper is guided by the working hypothesis that the pension fund system, because of its inherent defenses against persecutory and depressive anxieties, is based on psychotic dynamics. Participating in the pension fund system encourages a psychotic dynamic; the expected pension after retirement is seen to protect one from a "miserable" way of life, from deprivation, and annihilation and feelings of dependency, gratitude, love, and guilt. As people increasingly strive for an affluent retirement, commoditized money nurtures the illusion that the more money one accumulates the more certain death will be kept away.

It further will be argued that the psychotic dynamic inherent in the pension funds system is not limited to those who invest in the funds, but further finds an expression or "resonance" in the organizations that manage the funds and their respective role holders. Money paid into a pension scheme serves in addition to its "pecuniary" function as a "conductor" of psychotic anxieties. As a consequence, pension funds have become the main players in a kind of global marshalling yard in which underlying anxieties are transferred and shifted in various ways. Loaded with their customers' expectations and anxieties about adequate pensions after retirement, pension fund organizations tend to maintain and spread a globalized collusion of psychotic thinking.

Keywords: Money, financial service revolution, pension funds, socioanalysis, social defense, psychosis, psychotic thinking
Language: German

Journal: texte. psychoanalyse. ästhetik. kulturkritik
Volume: 23
Issue: 2
Start page: 38
End page: 68
Publisher ID:

Submitted by:
Burkard Sievers
Prof. Dr.
Schumpeter School for Business and Economics - University of Wuppertal - Germany
Corresponding author:

Literature Download:

By downloading the file you agree to comply with the Terms of Use / Guidelines of the ISPSO Library and the copyright/authority information for this Literature (above).

If there is no filename in a link below then a download has not been provided.
Members-only Downloads are via the members-only zone of the website.

External website Download

Local Download

File nameFile typeSize
Sievers 2003 Geld oder Leben.docComposite Document File V2 Document107.5 kBInfo

Members-only Download

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License