[65] I would also advice quantum physicists (or journalists) to abstain from gibberish descriptions of ‘quantum states’. A statement like “Schrödinger’s cat is both alive and dead, or in a superposition of life and death, and only collapses to either of these once you open the box” is nonsense, basically already in terms of logic, but for certain with the scientific predisposition to determinism.
[66] The NRC-Handelsblad April 4 2000 reports about research by Lene Hau. The so-called Bose-Einstein Condensation arises at zero Kelvin: when speed is zero, and thus is known, then apparently atoms ‘merge’ into ‘one amorf collective’, the BEC. Hau says that she can actually see it, and she uses it to slow down light to human speeds. She explains that her results are not statistical but ‘honest raw data’. This approach seems on the right track.
[67] I found, to my surprise, that Hayek has a similar approach. See the appendix on Hayek.
[68] The importance to recognise a ‘regime switch’ cannot be emphasised enough. Perhaps the Edmund Burke statement can help here: “Though nobody can draw a line between the boundaries of day and night, it is still possible generally to distinguish light and dark fairly well.” (quoted in Gould (1980) - translated back from the Dutch again).
[69] Real transfer income TRF will later be taken as B/P U. In practice there are also non-unemployment transfers.
[70] Later chapters will re-use S for some general supply function.
[71] Note that M is the minimum wage. Our formulas are better readable this way.
[72] Note that Y is nominal GDP if NX = 0.
[73] Then LE follows from LE =
