#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 28, 2025
“I think it will be useful and also an invitation to others to join us in our inquiry into political economy.” (Peter Boettke)
No. Austrian Economics is on its way to its final resting place in the Hall of Eternal Scientific Infamy.
Austrian… pic.twitter.com/WOpQGnLSMO
AXEC: New Foundations of Economics
This blog connects to the AXEC Project which applies a superior method of economic analysis. The following comments have been posted on selected blogs as catalysts for the ongoing Paradigm Shift. The comments are brought together here for information. The full debates are directly accessible via the Blog-References. Scrap the lot and start again―that is what a Paradigm Shift is all about. Time to make economics a science.
August 28, 2025
Occasional Xs: The futile attempt to recycle Austrianism (XLXI)
Occasional Xs: The futile attempt to recycle Austrianism (XLX)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 28, 2025
Javier Milei is a proponent of the Austrian School of Economics. Economics claims to be science but is not.
Austrian economists never understood profit and, by consequence, how the economic system works. That's rather bad for an economist.
When… pic.twitter.com/8ecmocAbmX
For more about iatrogenic economics, see AXECquery.
Occasional Xs: How it works (CCCXCI)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 28, 2025
“Trump v. the Fed: or how history is forcing the question of a democratic politics of central banking” (Branko Milanovic)
The Trump v. the Fed issue proves one thing: after more than 200 years, economists still don't understand how the monetary…
Related 'The Dark-Matter Theory of Fiat Money'
August 27, 2025
Occasional Xs: Clueless economists / Science (CLXXXVII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 27, 2025
Economics has not lost its soul. It never had one.
For 200+ years, economics has claimed to be Science but still is NOT. The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their derivatives) are mutually contradictory &… pic.twitter.com/HaRO1Fl43x
August 26, 2025
Occasional Xs: How it works (CCCXC)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 26, 2025
Trump: “The USA will continue to acquire equity stakes in large private companies similar to how it was with Intel.”
Yes, this is the first step on the Third Way between failing Capitalism and already failed Communism.
“The Legitimate Sovereign is…
Occasional Xs: Clueless economists / Science (CLXXXVI)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 26, 2025
“Wise words by Nobel Laureate Michael Spence on Adam Smith and the upcoming 250 of Wealth of Nations. We've got big plans brewing at @AdamSmithHouse for next year's big occasion.” (Adam Dixon)
Adam Smith never understood profit and, as a… pic.twitter.com/Nc8ziKh3ml
August 25, 2025
Occasional Xs: The futile attempt to recycle MMT (CLXII)
#MMT#BadScienceBadPolicyBadPeople
— AXEC (@EgmontHandtke) August 25, 2025
“Government deficit spending creates nongovernment sector saving in the form of domestic currency (cash, reserves, Treasuries).” (Real Progressives)
MMTers got macroeconomics wrong. This makes their monetary theory scientifically… pic.twitter.com/jwaF4U3AM6