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According to classical (i.e. Newtonian) particle theory, the results of the experiment should have corresponded to the slits, the impacts on the screen appearing in two vertical lines. Instead, the results showed that the coherent beams of light were interfering, creating a pattern of bright and dark bands on the screen. This contradicted classical particle theory, in which particles do not interfere with each other, but merely collide.

The only possible explanation for this pattern of interference was that the light beams were in fact behaving as waves

By the late 19th century, James Clerk Maxwell proposed that light was an electromagnetic wave, and devised several equations (known as Maxwell’s equations) to describe how electric and magnetic fields are generated and altered by each other and by charges and currents. By conducting measurements of different types of radiation (magnetic fields, ultraviolet and infrared radiation), he was able to calculate the speed of light in a vacuum (represented as c).

For one, it introduced the idea that major changes occur when things move close the speed of light, including the time-space frame of a moving body appearing to slow down and contract in the direction of motion when measured in the frame of the observer. After centuries of increasingly precise measurements, the speed of light was determined to be 299,792,458 m/s in 1975

According to his theory, wave function also evolves according to a differential equation (aka. the Schrödinger equation). For particles with mass, this equation has solutions; but for particles with no mass, no solution existed. Further experiments involving the Double-Slit Experiment confirmed the dual nature of photons. where measuring devices were incorporated to observe the photons as they passed through the slits.

For instance, its interaction with gravity (along with weak and strong nuclear forces) remains a mystery. Unlocking this, and thus discovering a Theory of Everything (ToE) is something astronomers and physicists look forward to. Someday, we just might have it all figured out!

the Common Core standards used by a majority of K-12 programs in the country require that students be able to “distinguish among fact, opinion, and reasoned judgment in a text.”

So what’s wrong with this distinction and how does it undermine the view that there are objective moral facts?

For example, many people once thought that the earth was flat. It’s a mistake to confuse truth (a feature of the world) with proof (a feature of our mental lives)

Furthermore, if proof is required for facts, then facts become person-relative. Something might be a fact for me if I can prove it but not a fact for you if you can’t. In that case, E=MC2 is a fact for a physicist but not for me.

worse, students are taught that claims are either facts or opinions. They are given quizzes in which they must sort claims into one camp or the other but not both. But if a fact is something that is true and an opinion is something that is believed, then many claims will obviously be both

How does the dichotomy between fact and opinion relate to morality

Kids are asked to sort facts from opinions and, without fail, every value claim is labeled as an opinion.

Here’s a little test devised from questions available on fact vs. opinion worksheets online: are the following facts or opinions? — Copying homework assignments is wrong. — Cursing in school is inappropriate behavior. — All men are created equal. — It is worth sacrificing some personal liberties to protect our country from terrorism. — It is wrong for people under the age of 21 to drink alcohol. — Vegetarians are healthier than people who eat meat. — Drug dealers belong in prison.

The answer? In each case, the worksheets categorize these claims as opinions. The explanation on offer is that each of these claims is a value claim and value claims are not facts. This is repeated ad nauseum: any claim with good, right, wrong, etc. is not a fact.

In summary, our public schools teach students that all claims are either facts or opinions and that all value and moral claims fall into the latter camp. The punchline: there are no moral facts. And if there are no moral facts, then there are no moral truths.

It should not be a surprise that there is rampant cheating on college campuses: If we’ve taught our students for 12 years that there is no fact of the matter as to whether cheating is wrong, we can’t very well blame them for doing so later on.

If it’s not true that it’s wrong to murder a cartoonist with whom one disagrees, then how can we be outraged? If there are no truths about what is good or valuable or right, how can we prosecute people for crimes against humanity? If it’s not true that all humans are created equal, then why vote for any political system that doesn’t benefit you over others?

the curriculum sets our children up for doublethink. They are told that there are no moral facts in one breath even as the next tells them how they ought to behave.

Our children deserve a consistent intellectual foundation. Facts are things that are true. Opinions are things we believe. Some of our beliefs are true. Others are not. Some of our beliefs are backed by evidence. Others are not.

Value claims are like any other claims: either true or false, evidenced or not.

The hard work lies not in recognizing that at least some moral claims are true but in carefully thinking through our evidence for which of the many competing moral claims is correct.

Moral truths are not the same as scientific truths or mathematical truths. Yet they may still be used a guiding principle for our individual lives as well as our laws.But there is equal danger of giving moral judgments the designation of truth as there is in not doing so. Many people believe that abortion is murder on the same level as shooting someone with a gun. But many others do not. So is it true that abortion is murder?Moral principles can become generally accepted and then form the basis for our laws. But many long accepted moral principles were later rejected as being faulty. "Separate but equal" is an example. Judging homosexual relationships as immoral is another example.

Whoa! That Einstein derived an equation is a fact. But the equation represents a theory that may have to be tweaked at some point in the future. It may be a fact that the equation foretold the violence of atomic explosions, but there are aspects of nature that elude the equation. Remember "the theory of everything?"

Here is a moral fact, this is a sermon masquerading as a philosophical debate on facts, opinions and truth. This professor of religion is asserting that the government via common core is teaching atheism via the opinion vs fact.He is arguing, in a dishonest form, that public schools should be teaching moral facts. Of course moral facts is code for the Ten Commandments.

As a fourth grade teacher, I try to teach students to read critically, including distinguishing between facts and opinions as they read (and have been doing this long before the Common Core arrived, by the way). It's not always easy for children to grasp the difference. I can only imagine the confusion that would ensue if I introduced a third category -- moral "facts" that can't be proven but are true nonetheless!

horrible acts occur not because of moral uncertainty, but because people are too sure that their views on morality are 100% true, and anyone who fails to recognize and submit themselves are heathens who deserve death.I can't think of any case where a society has suffered because people are too thoughtful and open-minded to different perspectives on moral truth.In any case, it's not an elementary school's job to teach "moral truths."

The characterization of moral anti-realism as some sort of fringe view in philosophy is misleading. Claims that can be true or false are, it seems, 'made true' by features of the world. It's not clear to many in philosophy (like me) just what features of the world could make our moral claims true. We are more likely to see people's value claims as making claims about, and enforcing conformity to, our own (contingent) social norms. This is not to hold, as Mr. McBrayer seems to think follows, that there are no reasons to endorse or criticize these social norms.

This is nonsense. Giving kids the tools to distinguish between fact and opinion is hard enough in an age when Republicans actively deny reality on Fox News every night. The last thing we need is to muddy their thinking with the concept of "moral facts."A fact is a belief that everyone _should_ agree upon because it is observable and testable. Morals are not agreed upon by all. Consider the hot button issue of abortion.

Truthfully, I'm not terribly concerned that third graders will end up taking these lessons in the definition of fact versus opinion to the extremes considered here, or take them as a license to cheat. That will come much later, when they figure out, as people always have, what they can get a way with. But Prof. McBrayer, with his blithe expectation that all the grownups know that there moral "facts"? He scares the heck out of me.

I've long chafed at the language of "fact" v. "opinion", which is grounded in a very particular, limited view of human cognition. In my own ethics courses, I work actively to undermine the distinction, focusing instead on considered judgment . . . or even more narrowly, on consideration itself. (See http://wp.me/p5Ag0i-6M )

The real waffle here is the very concept of "moral facts." Our statements of values, even very important ones are, obviously, not facts. Trying to dress them up as if they are facts, to me, argues for a pretty serious moral weakness on the part of those advancing the idea.

Our core values are not important because they are facts. They are important because we collectively hold them and cherish them. To lean on the false crutch of "moral facts" to admit the weakness of your own moral convictions.

I would like to believe that there is a core of moral facts/values upon which all humanity can agree, but it would be tough to identify exactly what those are.

For the the ancient philosophers, reality comprised the Good, the True, and the Beautiful (what we might now call ethics, science and art), seeing these as complementary and inseparable, though distinct, realms. With the ascendency of science in our culture as the only valid measure of reality to the detriment of ethics and art (that is, if it is not observable and provable, it is not real), we have turned the good and the beautiful into mere "social constructs" that have no validity on their own. While I am sympathetic in many ways with Dr. McBrayer's objections, I think he falls into the trap of discounting the Good and The Beautiful as valid in and of themselves, and tries, instead, to find ways to give them validity through the True. I think his argument would have been stronger had he used the language of validity rather than the language of truth. Goodness, Truth and Beauty each have their own validity, though interdependent and inseparable. When we artificially extract one of these and give it primacy, we distort reality and alienate ourselves from it.

Professor McBrayer seems to miss the major point of the Common Core concern: can students distinguish between premises based on (reasonably construed) fact and premises based on emotion when evaluating conclusions? I would prefer that students learn to reason rather than be taught moral 'truth' that follows Professor McBrayer's logic.

Moral issues cannot scientifically be treated on the level that Prof. McBrayer is attempting to use in this column: true or false, fact or opinion or both. Instead, they should be treated as important characteristics of the systematic working of a society or of a group of people in general. One can compare the working of two groups of people: one in which e.g. cheating and lying is acceptable, and one in which they are not. One can use historical or model examples to show the consequences and the working of specific systems of morals. I think that this method - suitably adjusted - can be used even in second grade.

Relativism has nothing to do with liberalism. The second point is that I'm not sure it does all that much harm, because I have yet to encounter a student who thought that he or she had to withhold judgment on those who hold opposing political views!

He tries to break free of narrow specialization and cross the boundaries between scientific disciplines. Expeditions beyond economics’ borders and its connection to history, philosophy, psychology, and ancient myths are not only refreshing, but necessary for understanding the world of the twenty-first century.

Reality is spun from stories, not from material. Zdeněk Neubauer

Before it was emancipated as a field, economics lived happily within subsets of philosophy—ethics, for example—miles away from today’s concept of economics as a mathematical-allocative science that views “soft sciences” with a scorn born from positivistic arrogance. But our thousand-year “education” is built on a deeper, broader, and oftentimes more solid base. It is worth knowing about.

The study of the history of a certain field is not, as is commonly held, a useless display of its blind alleys or a collection of the field’s trials and errors (until we got it right), but history is the fullest possible scope of study of a menu that the given field can offer.

History of thought helps us to get rid of the intellectual brainwashing of the age, to see through the intellectual fashion of the day, and to take a couple of steps back.

“The separation between the history of a science, its philosophy, and the science itself dissolves into thin air, and so does the separation between science and non-science; differences between the scientific and unscientific are vanishing.”

we seek to chart the development of the economic ethos. We ask questions that come before any economic thinking can begin—both philosophically and, to a degree, historically. The area here lies at the very borders of economics—and often beyond. We may refer to this as protoeconomics (to borrow a term from protosociology) or, perhaps more fittingly, metaeconomics (to borrow a term from metaphysics).

stories; Adam Smith believed. As he puts it in The Theory of Moral Sentiments, “the desire of being believed, or the desire of persuading, of leading and directing other people, seems to be one of the strongest of all our natural desires.”

“The human mind is built to think in terms of narratives … in turn, much of human motivation comes from living through a story of our lives, a story that we tell to ourselves and that creates a framework of our motivation. Life could be just ‘one damn thing after another’ if it weren’t for such stories. The same is true for confidence in a nation, a company, or an institution. Great leaders are foremost creators of stories.”

contrary to what our textbooks say, economics is predominantly a normative field. Economics not only describes the world but is frequently about how the world should be (it should be effective, we have an ideal of perfect competition, an ideal of high-GDP growth in low inflation, the effort to achieve high competitiveness …). To this end, we create models, modern parables,

I will try to show that mathematics, models, equations, and statistics are just the tip of the iceberg of economics; that the biggest part of the iceberg of economic knowledge consists of everything else; and that disputes in economics are rather a battle of stories and various metanarratives than anything else.

That is the reason for this book: to look for economic thought in ancient myths and, vice versa, to look for myths in today’s economics.

is a paradox that a field that primarily studies values wants to be value-free. One more paradox is this: A field that believes in the invisible hand of the market wants to be without mysteries.

The History of Animal Spirits: Dreams Never Sleep

The more important elements of a culture or field of inquiry such as economics are found in fundamental assumptions that adherents of all the various systems within the epoch unconsciously presuppose. Such assumptions appear so obvious that people do not know what they are assuming, because no other way of putting things has ever occurred to them, as the philosopher Alfred Whitehead notes in Adventures of Ideas.

I argue that economic questions were with mankind long before Adam Smith. I argue that the search for values in economics did not start with Adam Smith but culminated with him.

We should go beyond economics and study what beliefs are “behind the scenes,” ideas that have often become the dominant yet unspoken assumptions in our theories. Economics is surprisingly full of tautologies that economists are predominantly unaware of. I

argue that economics should seek, discover, and talk about its own values, although we have been taught that economics is a value-free science. I argue that none of this is true and that there is more religion, myth, and archetype in economics than there is mathematics.

In a way, this is a study of the evolution of both homo economicus and, more importantly, the history of the animal spirits within him. This book tries to study the evolution of the rational as well as the emotional and irrational side of human beings.

I argue that his most influential contribution to economics was ethical. His other thoughts had been clearly expressed long before him, whether on specialization, or on the principle of the invisible hand of the market. I try to show that the principle of the invisible hand of the market is much more ancient and developed long before Adam Smith. Traces of it appear even in the Epic of Gilgamesh, Hebrew thought, and in Christianity, and it is expressly stated by Aristophanes and Thomas Aquinas.

This is not a book on the thorough history of economic thought. The author aims instead to supplement certain chapters on the history of economic thought with a broader perspective and analysis of the influences that often escape the notice of economists and the wider public.

Progress (Naturalness and Civilization)

The Economy of Good and Evil

from his beginnings, man has been marked as a naturally unnatural creature, who for unique reasons surrounds himself with external possessions. Insatiability, both material and spiritual, are basic human metacharacteristics, which appear as early as the oldest myths and stories.

the Hebrews, with linear time, and later the Christians gave us the ideal (or amplified the Hebrew ideal) we now embrace. Then the classical economists secularized progress. How did we come to today’s progression of progress, and growth for growth’s sake?

The Need for Greed: The History of Consumption and Labor

Metamathematics From where did economics get the concept of numbers as the very foundation of the world?

mathematics at the core of economics, or is it just the icing of the cake, the tip of the iceberg of our field’s inquiry?

idea that we can manage to utilize our natural egoism, and that this evil is good for something, is an ancient philosophical and mythical concept. We will also look into the development of the ethos of homo economicus, the birth of “economic man.”

All of economics is, in the end, economics of good and evil. It is the telling of stories by people of people to people. Even the most sophisticated mathematical model is, de facto, a story, a parable, our effort to (rationally) grasp the world around us.

Masters of the Truth

Originally, truth was a domain of poems and stories, but today we perceive truth as something much more scientific, mathematical. Where does one go (to shop) for the truth? And who “has the truth” in our epoch?

Our animal spirits (something of a counterpart to rationality) are influenced by the archetype of the hero and our concept of what is good.

The entire history of ethics has been ruled by an effort to create a formula for the ethical rules of behavior. In the final chapter we will show the tautology of Max Utility, and we will discuss the concept of Max Good.

The History of the Invisible Hand of the Market and Homo Economicus

We understand “economics” to mean a broader field than just the production, distribution, and consumption of goods and services. We consider economics to be the study of human relations that are sometimes expressible in numbers, a study that deals with tradables, but one that also deals with nontradables (friendship, freedom, efficiency, growth).

When we mention economics in this book, we mean the mainstream perception of it, perhaps as best represented by Paul Samuelson.

By the term homo economicus, we mean the primary concept of economic anthropology. It comes from the concept of a rational individual, who, led by narrowly egotistical motives, sets out to maximize his benefit.

the Epic of Gilgamesh bears witness to the opposite—despite the fact that the first written clay fragments (such as notes and bookkeeping) of our ancestors may have been about business and war, the first written story is mainly about great friendship and adventure.

is a story of nature and civilization, of heroism, defiance, and the battle against the gods, and evil; an epic about wisdom, immortality, and also futility.

Even today we live in Gilgamesh’s vision that human relations—and therefore humanity itself—are a disturbance to work and efficiency; that people would perform better if they did not “waste” their time and energy on nonproductive things.

But it is in friendship where—often by-the-way, as a side product, an externality—ideas and deeds are frequently performed or created that together can altogether change the face of society.19 Friendship can go against an ingrained system in places where an individual does not have the courage to do so himself or herself.

started with Babylonians—rural nature becomes just a supplier of raw materials, resources (and humans the source of human resources). Nature is not the garden in which humans were created and placed, which they should care for and which they should reside in, but becomes a mere reservoir for natural (re)sources.

To be human seems to be somewhere in between, or both of these two. We

The entire history of culture is dominated by an effort to become as independent as possible from the whims of nature.39 The more developed a civilization is, the more an individual is protected from nature and natural influences and knows how to create around him a constant or controllable environment to his liking.

The epic captures one of the greatest leaps in the development of the division of labor. Uruk itself is one of the oldest cities of all, and in the epic it reflects a historic step forward in specialization—in the direction of a new social city arrangement. Because of the city wall, people in the city can devote themselves to things other than worrying about their own safety, and they can continue to specialize more deeply.

“The chief thing which the common-sense individual wants is not satisfactions for the wants he had, but more, and better wants.”47

If a consumer buys something, theoretically it should rid him of one of his needs—and the aggregate of things they need should be decreased by one item. In reality, though, the aggregate of “I want to have” expands together with the growing aggregate of “I have.”

the Old Testament, this relationship is perceived completely differently. Man (humanity) is created in nature, in a garden. Man was supposed to care for the Garden of Eden and live in harmony with nature and the animals. Soon after creation, man walks naked and is not ashamed, de facto the same as the animals. What is characteristic is that man dresses (the natural state of creation itself is not enough for him), and he (literally and figuratively) covers52 himself—in shame after the fall.53

Nature is where one goes to hunt, collect crops, or gather the harvest. It is perceived as the saturator of our needs and nothing more. One goes back to the city to sleep and be “human.” On the contrary, evil resides in nature. Humbaba lives in the cedar forest, which also happens to be the reason to completely eradicate it.

Symbolically, then, we can view the entire issue from the standpoint of the epic in the following way: Our nature is insufficient, bad, evil, and good (humane) occurs only after emancipation from nature (from naturalness), through culturing and education. Humanity is considered as being in civilization.

The city was frequently (at least in older Jewish writings) a symbol of sin, degeneration, and decadence—nonhumanity. The Hebrews were originally a nomadic nation, one that avoided cities. It is no accident that the first important city57 mentioned in the Bible is proud Babylon,58 which God later turns to dust.

is enough, for example, to read the Book of Revelation to see how the vision of paradise developed from the deep Old Testament period, when paradise was a garden. John describes his vision of heaven as a city—paradise is in New Jerusalem, a city where the dimensions of the walls(!) are described in detail, as are the golden streets and gates of pearl.

Hebrews later also chose a king (despite the unanimous opposition of God’s prophets) and settled in cities, where they eventually founded the Lord’s Tabernacle and built a temple for Him. The city of Jerusalem later gained an illustrious position in all of religion.

this time Christianity (as well as the influence of the Greeks) does not consider human naturalness to be an unambiguous good, and it does not have such an idyllic relationship to nature as the Old Testament prophets.

If a tendency toward good is not naturally endowed in people, it must be imputed from above through violence or at least the threat of violence.

If we were to look at human naturalness as a good, then collective social actions need a much weaker ruling hand. If people themselves have a natural tendency (propensity) toward good, this role does not have to be supplied by the state, ruler, or, if you wish, Leviathan.

How does this affect economics?

us return for the last time to the humanization of the wild Enkidu, which is a process we can perceive with a bit of imagination as the first seed of the principle of the market’s invisible hand, and therefore the parallels with one of the central schematics of economic thinking.

Sometimes it is better to “harness the devil to the plow” than to fight with him. Instead of summoning up enormous energy in the fight against evil, it is better to use its own energy to reach a goal we desire; setting up a mill on the turbulent river instead of futile efforts to remove the current. This is also how Saint Prokop approached it in one of the oldest Czech legends.

Enkidu caused damage and it was impossible to fight against him. But with the help of a trap, trick, this evil was transformed into something that greatly benefited civilization.

By culturing and “domesticating” Enkidu, humanity tamed the uncontrollable wild and chaotic evil

Enkidu devastated the doings (the external, outside-the-walls) of the city. But he was later harnessed and fights at the side of civilization against nature, naturalness, the natural state of things.

A similar story (reforming something animally wild and uncultivated in civilizational achievement) is used by Thomas Aquinas in his teachings. Several centuries later, this idea is fully emancipated in the hands of Bernard Mandeville and his Fable of the Bees: or, Private Vices, Publick Benefits. The economic and political aspects of this idea are—often incorrectly—ascribed to Adam Smith.

Here the individual does not try anymore to maximize his goods or profits, but what is important is writing his name in human memory in the form of heroic acts or deeds.

immortality, one connected with letters and the cult of the word: A name and especially a written name survives the body.”77

After this disappointment, he comes to the edge of the sea, where the innkeeper Siduri lives. As tonic for his sorrow, she offers him the garden of bliss, a sort of hedonistic fortress of carpe diem, where a person comes to terms with his mortality and at least in the course of the end of his life maximizes earthly pleasures, or earthly utility.

In the second stage, after finding his friend Enkidu, Gilgamesh abandons the wall and sets out beyond the city to maximalize heroism. “In his (…) search of immortal life, Gilgamesh

The hero refuses hedonism in the sense of maximizing terrestrial pleasure and throws himself into things that will exceed his life. In the blink of an eye, the epic turns on its head the entire utility maximization role that mainstream economics has tirelessly tried to sew on people as a part of their nature.81

today remember Gilgamesh for his story of heroic friendship with Enkidu, not for his wall, which no longer reaches monumental heights.

the eleventh and final tablet, Gilgamesh again loses what he sought. Like Sisyphus, he misses his goal just before the climax

The very existence of questions similar to today’s economic ones can be considered as the first observation. The first written considerations of the people of that time were not so different from those today. In other words: The epic is understandable for us, and we can identify with it.

We have also been witnesses to the very beginnings of man’s culturing—a great drama based on a liberation and then a distancing from the natural state.

Let us take this as a memento in the direction of our restlessness, our inherited dissatisfaction and the volatility connected to it. Considering that they have lasted five thousand years and to this day we find ourselves in harmony with a certain feeling of futility, perhaps these characteristics are inherent in man.

with the phenomenon of the creation of the city, we have seen how specialization and the accumulation of wealth was born, how holy nature was transformed into a secular supplier of resources, and also how humans’ individualistic ego was emancipated.

For small acts (hunting together, work in a factory), small love is enough: Camaraderie. For great acts, however, great love is necessary, real love: Friendship. Friendship that eludes the economic understanding of quid pro quo. Friendship gives. One friend gives (fully) for the other. That is friendship for life and death,

less a civilized, city person is dependent on nature, the more he or she is dependent on the rest of society. Like Enkidu, we have exchanged nature for society; harmony with (incalculable) nature for harmony with (incalculable) man.

human nature good or evil? To this day these questions are key for economic policy: If we believe that man is evil in his nature, therefore that a person himself is dog eat dog (animal), then the hard hand of a ruler is called for. If we believe that people in and of themselves, in their nature, gravitate toward good, then it is possible to loosen up the reins and live in a society that is more laissez-faire.

For a concept of historical progress, for the undeification of heroes, rulers, and nature, mankind had to wait for the Hebrews.

Because nature is not undeified, it is beyond consideration to explore it, let alone intervene in it (unless a person was a two-thirds god like Gilgamesh). It

As early as the “dark” ages, the Jews commonly used economic tools that were in many ways ahead of their time and that later became key elements of the modern economy:

Gilgamesh’s story ends where it began. There is a consistency in this with Greek myths and fables: At the end of the story, no progress occurs, no essential historic change; the story is set in indefinite time, something of a temporal limbo.

For a nation originally based on nomadism, where did this Jewish business ethos come from? And can the Hebrews truly be considered as the architects of the values that set the direction of our civilization’s economic thought?

PROGRESS: A SECULARIZED RELIGION One of the things the writers of the Old Testament gave to mankind is the idea and notion of progress. The Old Testament stories have their development; they change the history of the Jewish nation and tie in to each other. The Jewish understanding of time is linear—it has a beginning and an end.

The observance of God’s Commandments in Judaism leads not to some ethereal other world, but to an abundance of material goods (Genesis 49:25–26, Leviticus 26:3–13, Deuteronomy 28:1–13) (…) There are no accusing fingers pointed at

There are no echoes of asceticism nor for the cleansing and spiritual effect of poverty. It is fitting therefore, that the founders of Judaism, the Patriarchs Abraham, Isaac and Jacob, were all wealthy men.12

about due to a linear understanding of history. If history has a beginning as well as an end, and they are not the same point, then exploration suddenly makes sense in areas where the fruits are borne only in the next generation.

however, the idea of progress itself underwent major changes, and today we perceive it very differently. As opposed to the original spiritual conceptions, today we perceive progress almost exclusively in an economic or scientific-technological sense.

Because care for the soul has today been replaced by care for external things,

This is why we must constantly grow, because we (deep down and often implicitly) believe that we are headed toward an (economic) paradise on Earth.

Only since the period of scientific-technological revolution (and at a time when economics was born as an independent field) is material progress automatically assumed.

Jewish thought is the most grounded, most realistic school of thought of all those that have influenced our culture.17 An abstract world of ideas was unknown to the Jews. To this day it is still forbidden to even depict God, people, and animals in symbols, paintings, statues, and drawings.

economists have become key figures of great importance in our time (Kacířské eseje o filosofii dějin [Heretical Essays in the Philosophy of History]). They are expected to perform interpretations of reality, give prophetic services (macroeconomic forecasts), reshape reality (mitigate the impacts of the crisis, speed up growth), and, in the long run, provide leadership on the way to the Promised Land—paradise on Earth.

REALISM AND ANTIASCETICISM Aside from ideas of progress, the Hebrews brought another very fundamental contribution to our culture: The desacralization of heroes, nature, and rulers.

Voltaire writes: “It certain fact is, that in his public laws he [Moses] never so much as once made mention of a life to come, limiting all punishments and all rewards to the present life.”21

As opposed to Christianity, the concept of an extraterrestrial paradise or heaven was not developed much in Hebrew thought.19 The paradise of the Israelites—Eden—was originally placed on Earth at a given place in Mesopotamia20 and at a given time,

The Hebrews consider the world to be real—not just a shadow reflection of a better world somewhere in the cloud of ideas, something the usual interpretation of history ascribes to Plato. The soul does not struggle against the body and is not its prisoner, as Augustine would write later.

The land, the world, the body, and material reality are for Jews the paramount setting for divine history, the pinnacle of creation. This idea is the conditio sine qua non of the development of economics, something of an utterly earthly making,

The mythology of the hero-king was strongly developed in that period, which Claire Lalouette summarizes into these basic characteristics: Beauty (a perfect face, on which it is “pleasant to look upon,” but also “beauty,” expressed in the Egyptian word nefer, not only means aesthetics, but contains moral qualities as well),

THE HERO AND HIS UNDEIFICATION: THE DREAM NEVER SLEEPS The concept of the hero is more important than it might appear. It may be the remote origin of Keynes’s animal spirits, or the desire to follow a kind of internal archetype that a given individual accepts as his own and that society values.

This internal animator of ours, our internal mover, this dream, never sleeps and it influences our behavior—including economic behavior—more than we want to realize.

Anthropology knows several archetypes of heroes. The Polish-born American anthropologist Paul Radin examined the myths of North American Indians and, for example, in his most influential book, The Trickster, he describes their four basic archetypes of heroes.

The Torah’s heroes (if that term can be used at all) frequently make mistakes and their mistakes are carefully recorded in the Bible—maybe precisely so that none of them could be deified.32

the Hebrew heroes correspond most to the Tricksters, the Culture Bearers, and the Twins. The divine muscleman, that dominant symbol we think of when we say hero, is absent here.

Undeification, however, does not mean a call to pillage or desecration; man was put here to take care of nature (see the story of the Garden of Eden or the symbolism of the naming of the animals). This protection and care of nature is also related to the idea of progress

For the heroes who moved our civilization to where it is today, the heroic archetypes of the cunning trickster, culture bearer, and sufferer are rather more appropriate.

the Old Testament strongly emphasizes the undeification of nature.37 Nature is God’s creation, which speaks of divinity but is not the domain of moody gods

in an Old Testament context, the pharaoh was a mere man (whom one could disagree with, and who could be resisted!).

RULERS ARE MERE MEN In a similar historical context, the Old Testament teachings carried out a similar desacralization of rulers, the so-called bearers of economic policy.

Ultimately the entire idea of a political ruler stood against the Lord’s will, which is explicitly presented in the Torah. The Lord unequivocally preferred the judge as the highest form of rule—an

The needs of future generations will have to be considered; after all humankind are the guardians of God’s world. Waste of natural resources, whether privately owned or nationally owned is forbidden.”39

Politics lost its character of divine infallibility, and political issues were subject to questioning. Economic policy could become a subject of examination.

44 God first creates with the word and then on individual days He divides light from darkness, water from dry land, day from night, and so forth—and He gives order to things.45 The world is created orderly— it is wisely, reasonably put together. The way of the world is put together at least partially46 decipherably by any other wise and reasonable being who honors rational rules.

THE PRAISE OF ORDER AND WISDOM: MAN AS A PERFECTER OF CREATION The created world has an order of sorts, an order recognizable by us as people,

From the very beginning, when God distances Himself from the entire idea, there is an anticipation that there is nothing holy, let alone divine, in politics. Rulers make mistakes, and it is possible to subject them to tough criticism—which frequently occurs indiscriminately through the prophets in the Old Testament.

Hebrew culture laid the foundations for the scientific examination of the world.

Examining the world is therefore an absolutely legitimate activity, and one that is even requested by God—it is a kind of participation in the Creator’s work.51 Man is called on to understand himself and his surroundings and to use his knowledge for good.

The Book of Proverbs emphasizes specifically several times that it was wisdom that was present at the creation of the world. Wisdom personified calls out:

The last act, final stroke of the brush of creation, naming of the animals—this act is given to a human, it is not done by God, as one would expect. Man was given the task of completing the act of creation that the Lord began:

MAN AS A FINISHER OF CREATION The creation of the world, as it is explained in Jewish teachings, is described in the Book of Genesis. Here God (i) creates, (ii) separates, and (iii) names [my emphasis]:

Naming is a symbolic expression. In Jewish culture (and also in our culture to this day), the right to name meant sovereign rights and belonged, for example, to explorers (new places), inventors (new principles), or parents (children)—that is, to those who were there at the genesis, at the origin. This right was handed over by God to mankind.

The Naming itself (the capital N is appropriate) traditionally belongs to the crowning act of the Creator and represents a kind of grand finale of creation, the last move of the brush to complete the picture—a signature of the master.

Without naming, reality does not exist; it is created together with language. Wittgenstein tightly names this in his tractatus—the limits of our language are the limits of our world.53

Reality is not a given; it is not passive. Perceiving reality and “facts” requires man’s active participation. It is man who must take the last step, an act (and we

A real-ization act on our part represents the creation of a construct, the imputation of sense and order (which is beautifully expressed by the biblical act of naming, or categorization, sorting, ordering).

God connects man with the task of guarding and protecting the Garden of Eden, and thus man actually cocreates the cultural landscape. The Czech philosopher Zdeněk Neubauer also describes this: “Such is reality, and it is so deep that it willingly crystallizes into worlds. Therefore I profess that reality is a creation and not a place of occurrence for objectively given phenomena.”61

The Jews believed the exact opposite. The world is created by a good God, and evil appears in it as a result of immoral human acts. Evil, therefore, is induced by man.66 History unwinds according to the morality of human acts.

GOOD AND EVIL IN US: A MORAL EXPLANATION OF WELL-BEING We have seen that in the Epic of Gilgamesh, good and evil are not yet addressed systematically on a moral level.

the epic, good and evil are not envisaged morally—they are not the result of an (a)moral act. Evil was not associated with free moral action or individual will.

Hebrew thought, on the other hand, deals intensively with moral good and evil. A moral dimension touches the core of its stories.65

discrepancy between savings and investment, and others are convinced of the monetary essence

The entire history of the Jewish nation is interpreted and perceived in terms of morality. Morality has become, so to speak, a mover and shaker of Hebrew history.

sunspots. The Hebrews came up with the idea that morals were behind good and bad years, behind the economic cycle. But we would be getting ahead of ourselves. Pharaoh’s Dream: Joseph and the First Business Cycle To

It is the Pharaoh’s well-known dream of seven fat and seven lean cows, which he told to Joseph, the son of Jacob. Joseph interpreted the dream as a macroeconomic prediction of sorts: Seven years of abundance were to be followed by seven years of poverty, famine, and misery.

Self-Contradicting Prophecy Here, let’s make several observations on this: Through taxation74 on the level of one-fifth of a crop75 in good years to save the crop and then open granaries in bad years, the prophecy was de facto prevented (prosperous years were limited and hunger averted—through a predecessor of fiscal stabilization).

The Old Testament prophesies therefore were not any deterministic look into the future, but warnings and strategic variations of the possible, which demanded some kind of reaction. If the reaction was adequate, what was prophesied would frequently not occur at all.

If the threat is anticipated, it is possible to totally or at least partially avoid it. Neither Joseph nor the pharaoh had the power to avoid bounty or crop failure (in this the dream interpretation was true and the appearance of the future mystical), but they avoided the impacts and implications of the prophecy (in this the interpretation of the dream was “false”)—famine did not ultimately occur in Egypt, and this was due to the application of reasonable and very intuitive economic policy.

Let us further note that the first “macroeconomic forecast” appears in a dream.

back to Torah: Later in this story we will notice that there is no reason offered as to why the cycle occurs (that will come later). Fat years will simply come, and then lean years after them.

Moral Explanation of a Business Cycle That is fundamentally different from later Hebrew interpretations, when the Jewish nation tries to offer reasons why the nation fared well or poorly. And those reasons are moral.

Only in recent times have some currents of economics again become aware of the importance of morals and trust in the form of measuring the quality of institutions, the level of justice, business ethics, corruption, and so forth, and examining their influence on the economy,

it is not within the scope of this book to answer that question; justice has been done to the question if it manages to sketch out the main contours of possible searches for answers.

THE ECONOMICS OF GOOD AND EVIL: DOES GOOD PAY OFF? This is probably the most difficult moral problem we could ask.

Inquiring about the economics of good and evil, however, is not that easy. Where would Kant’s “moral dimension of ethics” go if ethics paid? If we do good for profit, the question of ethics becomes a mere question of rationality.

He remains righteous, even if his only reward is death. What economic advantage could he have from that?

morals cannot be considered in the economic dimension of productivity and calculus. The role of the Hebrews was to do good, whether it paid off or not. If good (outgoing) is rewarded by incoming goodness, it is a bonus,99 not a reason to do outgoing good. Good and reward do not correlate to each other.

This reasoning takes on a dimension of its own in the Old Testament. Good (incoming) has already happened to us. We must do good (outgoing) out of gratitude for the good (incoming) shown to us in the past.

So why do good? After all, suffering is the fate of many biblical figures. The answer can only be: For good itself. Good has the power to be its own reward. In this sense, goodness gets its reward, which may or may not take on a material dimension.

the Hebrews offered an interesting compromise between the teachings of the Stoics and Epicureans. We will go into it in detail later, so only briefly

constraint. It calls for bounded optimalization (with limits). A kind of symbiosis existed between the legitimate search for one’s own utility (or enjoyment of life) and maintaining rules, which are not negotiable and which are not subject to optimalization.

In other words, clear (exogenously given) rules exist that must be observed and cannot be contravened. But within these borders it is absolutely possible, and even recommended, to increase utility.

To Love the Law The Jews not only had to observe the law (perhaps the word covenant would be more appropriate), but they were to love it because it was good.

the principle of doing good (outgoing) on the basis of a priori demonstrated good (incoming) was also taken over by the New Testament. Atonement itself is based on an a priori principle; all our acts are preceded by good.

THE SHACKLES OF THE CITY Owing to the Hebrew’s liberation from Egyptian slavery, freedom and responsibility become the key values of Jewish thought.

Laws given by God are binding for Jews, and God is the absolute source of all values,

The Hebrew ideal is represented by the paradise of the Garden of Eden, not a city.116 The despised city civilization or the tendency to see in it a sinful and shackling way of life appears in glimpses and allusions in many places in the Old Testament.

The nomadic Jewish ethos is frequently derived from Abraham, who left the Chaldean city of Ur on the basis of a command:

This way of life had understandably immense economic impacts. First, such a society lived in much more connected relationships, where there was no doubt that everyone mutually depended on each other. Second, their frequent wanderings meant the inability to own more than they could carry; the gathering up of material assets did not have great weight—precisely because the physical weight (mass) of things was tied to one place.

One of Moses’s greatest deeds was that he managed to explain to his nation once and for all that it is better to remain hungry and liberated than to be a slave with food “at no cost.”

SOCIAL WELFARE: NOT TO ACT IN THE MANNER OF SODOM

regulations is developed in the Old Testament, one we hardly find in any other nation of the time. In Hebrew teachings, aside from individual utility, indications of the concept of maximalizing utility societywide appear for the first time as embodied in the Talmudic principle of Kofin al midat S´dom, which can be translated as “one is compelled not to act in the manner of Sodom” and to take care of the weaker members of society.

In a jubilee year, debts were to be forgiven,125 and Israelites who fell into slavery due to their indebtedness were to be set free.126

Land at the time could be “sold,” and it was not sale, but rent. The price (rent) of real estate depended on how long there was until a forgiveness year. It was about the awareness that we may work the land, but in the last instance we are merely “aliens and strangers,” who have the land only rented to us for a fixed time. All land and riches came from the Lord.

These provisions express a conviction that freedom and inheritance should not be permanently taken away from any Israelite. Last but not least, this system reminds us that no ownership lasts forever and that the fields we plow are not ours but the Lord’s.

Glean Another social provision was the right to glean, which in Old Testament times ensured at least basic sustenance for the poorest. Anyone who owned a field had the responsibility not to harvest it to the last grain but to leave the remains in the field for the poor.

Tithes and Early Social Net Every Israelite also had the responsibility of levying a tithe from their entire crop. They had to be aware from whom all ownership comes and, by doing so, express their thanks.

“Since the community has an obligation to provide food, shelter, and basic economic goods for the needy, it has a moral right and duty to tax its members for this purpose. In line with this duty, it may have to regulate markets, prices and competition, to protect the interests of its weakest members.”135

In Judaism, charity is not perceived as a sign of goodness; it is more of a responsibility. Such a society then has the right to regulate its economy in such a way that the responsibility of charity is carried out to its satisfaction.

With a number of responsibilities, however, comes the difficulty of getting them into practice. Their fulfillment, then, in cases when it can be done, takes place gradually “in layers.” Charitable activities are classified in the Talmud according to several target groups with various priorities, classified according to, it could be said, rules of subsidiarity.

Do not mistreat an alien or oppress him, for you were aliens in Egypt.140 As one can see, aside from widows and orphans, the Old Testament also includes immigrants in its area of social protection.141 The Israelites had to have the same rules apply for them as for themselves—they could not discriminate on the basis of their origin.

ABSTRACT MONEY, FORBIDDEN INTEREST, AND OUR DEBT AGE If it appears to us that today’s era is based on money and debt, and our time will be written into history as the “Debt age,” then it will certainly be interesting to follow how this development occurred.

Money is a social abstractum. It is a social agreement, an unwritten contract.

The first money came in the form of clay tablets from Mesopotamia, on which debts were written. These debts were transferable, so the debts became currency. In the end, “It is no coincidence that in English the root of ‘credit’ is ‘credo,’ the Latin for ‘I believe.’”

To a certain extent it could be said that credit, or trust, was the first currency. It can materialize, it can be embodied in coins, but what is certain is that “money is not metal,” even the rarest metal, “it is trust inscribed,”

Inseparably, with the original credit (money) goes interest. For the Hebrews, the problem of interest was a social issue: “If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest.”

there were also clearly set rules setting how far one could go in setting guarantees and the nonpayment of debts. No one should become indebted to the extent that they could lose the source of their livelihood:

In the end, the term “bank” comes from the Italian banci, or the benches that Jewish lenders sat on.157

Money is playing not only its classical roles (as a means of exchange, a holder of value, etc.) but also a much greater, stronger role: It can stimulate, drive (or slow down) the whole economy. Money plays a national economic role.

In the course of history, however, the role of loans changed, and the rich borrowed especially for investment purposes,

In such a case a ban on interest did not have great ethical significance. Thomas Aquinas, a medieval scholar (1225-1274), also considers similarly; in his time, the strict ban on lending with usurious interest was loosened, possibly due to him.

As a form of energy, money can travel in three dimensions, vertically (those who have capital lend to those who do not) and horizontally (speed and freedom in horizontal or geographic motion has become the by-product—or driving force?—of globalization). But money (as opposed to people) can also travel through time.

money is something like energy that can travel through time. And it is a very useful energy, but at the same time very dangerous as well. Wherever

Aristotle condemned interest162 not only from a moral standpoint, but also for metaphysical reasons. Thomas Aquinas shared the same fear of interest and he too argued that time does not belong to us, and that is why we must not require interest.

MONEY AS ENERGY: TIME TRAVEL AND GROSS DEBT PRODUCT (GDP)

Due to this characteristic, we can energy-strip the future to the benefit of the present. Debt can transfer energy from the future to the present.163 On the other hand, saving can accumulate energy from the past and send it to the present.

labor was not considered degrading in the Old Testament. On the contrary, the subjugation of nature is even a mission from God that originally belonged to man’s very first blessings.

LABOR AND REST: THE SABBATH ECONOMY

The Jews as well as Aristotle behaved very guardedly toward loans. The issue of interest/usury became one of the first economic debates. Without having an inkling of the future role of economic policy (fiscal and monetary), the ancient Hebrews may have unwittingly felt that they were discovering in interest a very powerful weapon, one that can be a good servant, but (literally) an enslaving master as well.

It’s something like a dam. When we build one, we are preventing periods of drought and flooding in the valley; we are limiting nature’s whims and, to a large extent, avoiding its incalculable cycles. Using dams, we can regulate the flow of water to nearly a constant. With it we tame the river (and we can also gain

But if we do not regulate the water wisely, it may happen that we would overfill the dam and it would break. For the cities lying in the valley, their end would be worse than if a dam were never there.

If man lived in harmony with nature before, now, after the fall, he must fight; nature stands against him and he against it and the animals. From the Garden we have moved unto a (battle)field.

Only after man’s fall does labor turn into a curse.168 It could even be said that this is actually the only curse, the curse of the unpleasantness of labor, that the Lord places on Adam.

Both Plato and Aristotle consider labor to be necessary for survival, but that only the lower classes should devote themselves to it so that the elites would not have to be bothered with it and so that they could devote themselves to “purely spiritual matters—art, philosophy, and politics.”

Work is also not only a source of pleasure but a social standing; It is considered an honor. “Do you see a man skilled in his work? He will serve before kings.”170 None of the surrounding cultures appreciate work as much. The idea of the dignity of labor is unique in the Hebrew tradition.

Hebrew thinking is characterized by a strict separation of the sacred from the profane. In life, there are simply areas that are holy, and in which it is not allowed to economize, rationalize, or maximize efficiency.

the message of the commandment on Saturday communicated that people were not primarily created for labor.

This dimension has disappeared from today’s economics. Economic effort has no goal at which it would be possible to rest. Today we only know growth for growth’s sake, and if our company or country prospers, that does not…

the purpose of creation was not just creating but that it had an end, a goal. The process was just a process, not a purpose. The whole of Being was created so…

ancient Greek economic ethos, we will examine two extreme approaches to laws and rules. While the Stoics considered laws to be absolutely valid, and utility had infinitesimal meaning in their philosophy, the Epicureans, at least in the usual historical explanation, placed utility and pleasure in first place—rules were to be made based on the principle of utility.

CONCLUSION: BETWEEN UTILITY AND PRINCIPLE The influence of Jewish thought on the development of market democracy cannot be overestimated. The key heritage for us was the lack of ascetic perception of the world, respect to law and private…

poets actually went even further, and with their speech they shaped and established reality and truth. Honor, adventure, great deeds, and the acclaim connected with them played an important role in the establishment of the true, the real.

those who are famous will be remembered by people. They become more real, part of the story, and they start to be “realized,” “made real” in the lives of other people. That which is stored in memory is real; that which is forgotten is as if it never existed.

“epic and tragic poets were widely assumed to be the central ethical thinkers and teachers of Greece; nobody thought of their work as less serious, less aimed at truth, than the speculative prose treatises of historians and philosophers.”5 Truth and reality were hidden in speech, stories, and narration.

general? In the end, poetry could be more sensitive to the truth than the philosophical method or, later, the scientific method. “Tragic poems, in virtue of their subject matter and their social function, are likely to confront and explore problems about human beings and luck that a philosophical text might be able to omit or avoid.”8

There were many new phenomena that were discovered and that came to be understood in the centuries that followed Newton’s era. Take electricity and magnetism, for example. Until the 19th century, we didn’t really know what electricity or magnetism were, or how they worked. Isaac Newton certainly didn’t have a clue.

To many physicists around the turn of the 20th century, the state of physics seemed very settled. The Newtonian worldview had been very successful, and for a very long time.

In 1905, however, a revolution in physics did come. And perhaps even more surprising than the revolution itself was where that revolution came from. In 1905, Albert Einstein was not working as a professor at some prestigious university. He was not famous, or even well-known among other physicists.

Things didn’t stay this way for long, however. In 1905, Einstein wrote not one or two, but four absolutely groundbreaking papers. Any one of these four papers would have made him a star within the field of physics, and would have certainly secured him a position of prominence in the history of science.

It seems that having so many breakthroughs of this magnitude in such a short period of time had never happened before, and has never happened since. In the first of Einstein’s 1905 papers, he proposed that light doesn’t only behave like a wave, but that it is also made up of individual pieces or particles.

But Einstein’s paper provided concrete empirical evidence that atoms were, in fact, real and tangible objects. He was even able to use these arguments to make a pretty good estimate for the size and mass of atoms and molecules. It was a huge step forward.

The equations that physicists use to describe the propagation of light waves—what are known as Maxwell’s equations—predict that light should move through space at a speed of about 670 million miles per hour. And more interestingly, these equations don’t make any reference to any medium that the light waves propagate through.

Although no experiment had ever detected this aether, they argued that it must fill virtually all of space. After all, they argued, the light from a distant star could only reach us if there was a continuous path filled with aether, extending all the way from the star to us.

ventually, though, physicists discovered that there was no aether. It would be Einstein who would come up with an equation to explain this conundrum.

After dallying with physics at university, Hairer moved into mathematics. The realisation that ideas in theoretical physics can be overturned and swiftly consigned to the dustbin did not appeal. “I wouldn’t really want to put my name to a result that could be superseded by something else three years later,” he said. “In mathematics, if you obtain a result then that is it. It’s the universality of mathematics, you discover absolute truths.”

Hairer’s expertise lies in stochastic partial differential equations, a branch of mathematics that describes how randomness throws disorder into processes such as the movement of wind in a wind tunnel or the creeping boundary of a water droplet landing on a tissue. When the randomness is strong enough, solutions to the equations get out of control. “In some cases, the solutions fluctuate so wildly that it is not even clear what the equation meant in the first place,” he said.

With the invention of regularity structures, Hairer showed how the infinitely jagged noise that threw his equations into chaos could be reframed and tamed.

Before he died, Richard Feynman, who understood quantum theory as well as anyone, said, “I still get nervous with it...I cannot define the real problem, therefore I suspect there’s no real problem, but I’m not sure there’s no real problem.” The problem is not with using the theory — making calculations, applying it to engineering tasks — but in understanding what it means. What does it tell us about the world?

From one point of view, quantum physics is just a set of formalisms, a useful tool kit. Want to make better lasers or transistors or television sets? The Schrödinger equation is your friend. The trouble starts only when you step back and ask whether the entities implied by the equation can really exist. Then you encounter problems that can be described in several familiar ways:

Wave-particle duality. Everything there is — all matter and energy, all known forces — behaves sometimes like waves, smooth and continuous, and sometimes like particles, rat-a-tat-tat. Electricity flows through wires, like a fluid, or flies through a vacuum as a volley of individual electrons. Can it be both things at once?

The uncertainty principle. Werner Heisenberg famously discovered that when you measure the position (let’s say) of an electron as precisely as you can, you find yourself more and more in the dark about its momentum. And vice versa. You can pin down one or the other but not both.

The measurement problem. Most of quantum mechanics deals with probabilities rather than certainties. A particle has a probability of appearing in a certain place. An unstable atom has a probability of decaying at a certain instant. But when a physicist goes into the laboratory and performs an experiment, there is a definite outcome. The act of measurement — observation, by someone or something — becomes an inextricable part of the theory

The strange implication is that the reality of the quantum world remains amorphous or indefinite until scientists start measuring

Other interpretations rely on “hidden variables” to account for quantities presumed to exist behind the curtain.

This is disturbing to philosophers as well as physicists. It led Einstein to say in 1952, “The theory reminds me a little of the system of delusions of an exceedingly intelligent paranoiac.”

“Figuring out what quantum physics is saying about the world has been hard,” Becker says, and this understatement motivates his book, a thorough, illuminating exploration of the most consequential controversy raging in modern science.

In a way, the Copenhagen is an anti-interpretation. “It is wrong to think that the task of physics is to find out how nature is,” Bohr said. “Physics concerns what we can say about nature.”

Nothing is definite in Bohr’s quantum world until someone observes it. Physics can help us order experience but should not be expected to provide a complete picture of reality. The popular four-word summary of the Copenhagen interpretation is: “Shut up and calculate!”

Becker sides with the worriers. He leads us through an impressive account of the rise of competing interpretations, grounding them in the human stories

He makes a convincing case that it’s wrong to imagine the Copenhagen interpretation as a single official or even coherent statement. It is, he suggests, a “strange assemblage of claims.

An American physicist, David Bohm, devised a radical alternative at midcentury, visualizing “pilot waves” that guide every particle, an attempt to eliminate the wave-particle duality.

Competing approaches to quantum foundations are called “interpretations,” and nowadays there are many. The first and still possibly foremost of these is the so-called Copenhagen interpretation.

Perhaps the most popular lately — certainly the most talked about — is the “many-worlds interpretation”: Every quantum event is a fork in the road, and one way to escape the difficulties is to imagine, mathematically speaking, that each fork creates a new universe

if you think the many-worlds idea is easily dismissed, plenty of physicists will beg to differ. They will tell you that it could explain, for example, why quantum computers (which admittedly don’t yet quite exist) could be so powerful: They would delegate the work to their alter egos in other universes.

When scientists search for meaning in quantum physics, they may be straying into a no-man’s-land between philosophy and religion. But they can’t help themselves. They’re only human.

If you were to watch me by day, you would see me sitting at my desk solving Schrödinger’s equation...exactly like my colleagues,” says Sir Anthony Leggett, a Nobel Prize winner and pioneer in superfluidity. “But occasionally at night, when the full moon is bright, I do what in the physics community is the intellectual equivalent of turning into a werewolf: I question whether quantum mechanics is the complete and ultimate truth about the physical universe.”

Einstein turned this insight into an equation that described the jittering mathematically. His Brownian motion paper is widely recognized as the first incontrovertible proof that atoms and molecules really exist—and it still serves as the basis for some stock market forecasts.

He was trying to explain an odd fact that was first noticed by English botanist Robert Brown in 1827. Brown looked through his microscope and saw that the dust grains in a droplet of water were jittering around aimlessly. This Brownian motion, as it was first dubbed, had nothing to do with the grains being alive, so what kept them moving?

If you’ve been to a conference or played with a cat, chances are you’ve seen a laser pointer in action. In the nearly six decades since physicists demonstrated the first laboratory prototype of a laser in 1960, the devices have come to occupy almost every niche imaginable, from barcode readers to systems for hair removal.

So Einstein made an inspired guess: Maybe photons like to march in step, so that the presence of a bunch of them going in the same direction will increase the probability of a high-energy atom emitting another photon in that direction. He called this process stimulated emission, and when he included it in his equations, his calculations fit the observations perfectly

A laser is just a gadget for harnessing this phenomenon

He sums up his key points about how to keep models from going bad by quoting excerpts from his "Financial Modeler's Manifesto" (written with Paul Wilmott), a paper he published a couple of years ago. Among its admonitions: "I will always look over my shoulder and never forget that the model is not the world"; "I will not be overly impressed with mathematics"; "I will never sacrifice reality for elegance"; "I will not give the people who use my models false comfort about their accuracy"; "I understand that my work may have enormous effects on society and the economy, many beyond my apprehension."

As the collapse of the subprime collateralized debt market in 2008 made clear, it is a terrible mistake to put too much faith in models purporting to value financial instruments. "In crises," Mr. Derman writes, "the behavior of people changes and normal models fail. While quantum electrodynamics is a genuine theory of all reality, financial models are only mediocre metaphors for a part of it."

Although financial models employ the mathematics and style of physics, they are fundamentally different from the models that science produces. Physical models can provide an accurate description of reality. Financial models, despite their mathematical sophistication, can at best provide a vast oversimplification of reality. In the universe of finance, the behavior of individuals determines value—and, as he says, "people change their minds."

Bringing ethics into his analysis, Mr. Derman has no patience for coddling the folly of individuals and institutions who over-rely on faulty models and then seek to escape the consequences. He laments the aftermath of the 2008 financial meltdown, when banks rebounded "to record profits and bonuses" thanks to taxpayer bailouts. If you want to benefit from the seven fat years, he writes, "you must suffer the seven lean years too, even the catastrophically lean ones. We need free markets, but we need them to be principled."

One common strategy for thinking about this is to suggest that what we used to call the whole universe is just a small part of everything there is, and that we live in a kind of bubble universe, a small region of something much larger

Newton realized there had to be some force holding the moon in its orbit around the earth, to keep it from wandering off, and he knew also there was a force that was pulling the apple down to the earth. And so what suddenly struck him was that those could be one and the same thing, the same force

That was a physical discovery, a physical discovery of momentous importance, as important as anything you could ever imagine because it knit together the terrestrial realm and the celestial realm into one common physical picture. It was also a philosophical discovery in the sense that philosophy is interested in the fundamental natures of things.

There are other ideas, for instance that maybe there might be special sorts of laws, or special sorts of explanatory principles, that would apply uniquely to the initial state of the universe.

The basic philosophical question, going back to Plato, is "What is x?" What is virtue? What is justice? What is matter? What is time? You can ask that about dark energy - what is it? And it's a perfectly good question.

right now there are just way too many freely adjustable parameters in physics. Everybody agrees about that. There seem to be many things we call constants of nature that you could imagine setting at different values, and most physicists think there shouldn't be that many, that many of them are related to one another. Physicists think that at the end of the day there should be one complete equation to describe all physics, because any two physical systems interact and physics has to tell them what to do. And physicists generally like to have only a few constants, or parameters of nature. This is what Einstein meant when he famously said he wanted to understand what kind of choices God had --using his metaphor-- how free his choices were in creating the universe, which is just asking how many freely adjustable parameters there are. Physicists tend to prefer theories that reduce that number

You have others saying that time is just an illusion, that there isn't really a direction of time, and so forth. I myself think that all of the reasons that lead people to say things like that have very little merit, and that people have just been misled, largely by mistaking the mathematics they use to describe reality for reality itself. If you think that mathematical objects are not in time, and mathematical objects don't change -- which is perfectly true -- and then you're always using mathematical objects to describe the world, you could easily fall into the idea that the world itself doesn't change, because your representations of it don't.

physicists for almost a hundred years have been dissuaded from trying to think about fundamental questions. I think most physicists would quite rightly say "I don't have the tools to answer a question like 'what is time?' - I have the tools to solve a differential equation." The asking of fundamental physical questions is just not part of the training of a physicist anymore.

The question remains as to how often, after life evolves, you'll have intelligent life capable of making technology. What people haven't seemed to notice is that on earth, of all the billions of species that have evolved, only one has developed intelligence to the level of producing technology. Which means that kind of intelligence is really not very useful. It's not actually, in the general case, of much evolutionary value. We tend to think, because we love to think of ourselves, human beings, as the top of the evolutionary ladder, that the intelligence we have, that makes us human beings, is the thing that all of evolution is striving toward. But what we know is that that's not true. Obviously it doesn't matter that much if you're a beetle, that you be really smart. If it were, evolution would have produced much more intelligent beetles. We have no empirical data to suggest that there's a high probability that evolution on another planet would lead to technological intelligence.