Quantum Economics

Amit Goswami is best known for his idealist interpretation of quantum mechanics. Here he turns his informed attention on the implications of his view of quantum physics for economics, mainly with a US political focus. He calls this a consciousness-based economics of holism that goes beyond the scientific materialism underlying current economic theory - consciousness becomes fundamental rather than matter, and we have a science within consciousness. He shows how Adam Smith's ideas have been modified by scientific materialism to place an emphasis on mathematical models, and how it has also influenced health systems by prioritising an allopathic approach with a dismissive attitude towards complementary and alternative medicine - due in large part to the power of Big Pharma. An important implication of a consciousness-based approach is the creative causal power of thought widely denied by current theories, in spite of evidence from placebo and contemplative neuroscience, although things are beginning to shift in this respect.

Goswami brings in the idea of subtle and vital energies as well as the search for meaning, showing how addressing the underlying issues of well-being can also drive the economy on a more sustainable basis, although I was not entirely convinced by his argument that this could resolve the boom and bust cycle. It is interesting to speculate on total annual global expenditure on yoga, spirituality and holistic health, all of which reflects the development of an interest in subtle and vital energy. Goswami is equally critical of supply-side and demand-led economics espoused by Republicans and Democrats respectively. He sees evidence of shifting cultural patterns with the 'consciousness revolution' moving up Maslow's hierarchy of needs, but the question is how potent this force is in relation to rising material demand from middle classes in such countries as Brazil, India and China.

In the latter part of the book, Goswami looks at changes already going on in the direction of his analysis, which makes encouraging reading as we seek to meet people's higher needs in terms of real quality of life. The advance guard is represented by the 'cultural creatives', who form an increasing proportion of the population in terms of overall worldview and are in the author's terms quantum activists open to creativity and intuition - he gives some guidance on new consumption and production patterns, including advice for business leaders. He also includes proposals for the fundamental reform of higher education and health services with their staggering costs, as well as for a more integrated psychology involving the development of human capital. This visionary book depicts a possible future social scenario, elements of which are already happening, but as yet on an insufficient scale - we have not yet undergone the worldview change he advocates based on quantum physics.