The author of quantum economic analysis

Prof. Bernard Schmitt

Prof. Bernard Schmitt

Bernard Schmitt (Colmar, France, 1929 – Beaune, France, 2014) is a French economist, founder of the school of economic thought known as quantum economics.

In 1953, before obtaining his PhD (Paris, 1958), he is research fellow at the University of Cambridge (U.K.), under the supervision of Piero Sraffa and Dennis Robertson. In 1954, he becomes a member of the Centre National de la Recherche Scientifique (CNRS), in Paris. His works on macroeconomic theory and monetary analysis have been awarded two medals by the CNRS, in 1961 and 1973. He was Professor in Monetary Macroeconomics at the University of Bourgogne, France, and at the University of Fribourg, Switzerland.

Professor Bernard Schmitt died Thursday, March the 26th at the hospital of Beaune (France) where he had been taken because of a hypoglycaemic emergency. Since autumn 2010 he suffered from the aftermath of a cerebral haemorrhage that had miraculously left his intellectual faculties unaffected. Up to a few days before his death he worked on the problem of countries’ sovereign debt, to which he had devoted this research in the last 15 years.

As founder of quantum monetary macroeconomics, Bernard Schmitt developed an economic analysis based on the double-entry bookkeeping nature of bank money and on the macroeconomic laws derived from it. The profundity of his thought and the rigour of his texts testify of a scientific production whose objective has always been that to provide the conceptual instruments required to explain the causes of economic and financial crises and to show how to avoid them.