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Economics and Physical Science

In: Limits of Economic and Social Knowledge

Author

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  • Stephen J. DeCanio

    (University of California)

Abstract

Modern physical science has moved a considerable distance from the deterministic materialism of the nineteenth century. Even then, the inclusion of fields (gravitational, magnetic, and electric) complemented the massy, solid atoms in making up the world-picture of physics. But in the twentieth century, science replaced the earlier ontology entirely. Quantum mechanics, the crowning achievement of modern physics, has re-opened ages-old questions about the nature of reality, causation, and the connection between consciousness and the external world. The fundamental ground of modern physics is at the epistemological level — what we can know about physical systems is basic, rather than an onto-logical account of the world as it ‘really is.’

Suggested Citation

  • Stephen J. DeCanio, 2014. "Economics and Physical Science," Palgrave Macmillan Books, in: Limits of Economic and Social Knowledge, chapter 4, pages 103-121, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-137-37193-5_4
    DOI: 10.1057/9781137371935_4
    as

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