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Quantum Theory and Social Economics:

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  • Siegfried G. Karsten

Abstract

. The holistic approach of quantum theory is investigated as a tool for social economists to analyze and to interpret socioeconomic reality and paradigms. The link between quantum theory and the social economist's approach to socioeconomic reality, i.e., the “what is,” rests on the premise that each element of the socioeconomic universe relates to the whole system and vice versa. In other words, the meaning of each part is to be found in its implicit reflection of the whole of reality; it has no meaning exclusive of the whole. In terms of quantum theory, investigations of microeconomic processes are interwoven with the macroeconomic frame of reference of the observer. The very act of observation is to be considered as an integral part of the observed system.

Suggested Citation

  • Siegfried G. Karsten, 1990. "Quantum Theory and Social Economics:," American Journal of Economics and Sociology, Wiley Blackwell, vol. 49(4), pages 385-399, October.
    • Handle: RePEc:bla:ajecsc:v:49:y:1990:i:4:p:385-399
    DOI: 10.1111/j.1536-7150.1990.tb02461.x
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    Cited by:

    1. Luca Lambertini, 2013. "John von Neumann between Physics and Economics: A methodological note," Review of Economic Analysis, Digital Initiatives at the University of Waterloo Library, vol. 5(2), pages 177-189, December.

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