A decade after the financial crisis, there is a growing consensus that
economics has failed and needs to go back to the drawing board. David
Orrell argues that it has been trying to solve the wrong problem all
along.
Economics sees itself as the science of scarcity. Instead, it should be
the science of money (which plays a surprisingly small role in
mainstream theory). And money is a substance that turns out to have a
quantum nature of its own.
Just as physicists learn about matter by studying the exchange of
particles at the subatomic level, so economics should begin by analysing
the nature of money-based transactions. Quantum Economics therefore
starts with the meaning of the phrase 'how much' - or, to use the Latin
word, quantum.
From quantum physics to the dualistic properties of money, via the
emerging areas of quantum finance and quantum cognition, this profoundly
important book reveals that quantum economics is to neoclassical
economics what quantum physics is to classical physics - a genuine
turning point in our understanding.