We present an alternative to the Copenhagen interpretation of the formalism of nonrelativistic quantum mechanics. The basic difference is that the new interpretation is formulated in the language of epistemological realism. It involves a change in some basic physical concepts. Elementary particles are considered as extended objects and nonlocal effects are included. The role of the new concepts in the problems of measurement and of the Einstein–Podolsky–Rosen correlations is described. Experiments to distinguish the proposed interpretation from the Copenhagen one are pointed out.