#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 7, 2025
“To avoid the semantic issues: I think of democracy as a system of checks and balances that tries to reflect the opinions of all, and find the best compromise. I think of autocracy as the destruction of such checks and balances. … I shall freely…
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 7, 2025
Occasional Xs: Clueless economists / Oligarchy-Democracy (II)
August 6, 2025
Occasional Tweets: How MMTers serve the Oligarchy (VII)
#MMT#BadScienceBadPolicyBadPeople
— AXEC (@EgmontHandtke) August 6, 2025
“I suspect the Soros-type people of the world created the marketing brand 'MMT' from post-Keynesian economists …” (Sahin Ashkiani quotes Richard Werner)
Yes, MMTers got macroeconomics wrong. This makes their monetary theory scientifically… pic.twitter.com/f0EoBXYUO7
Related 'The Dark-Matter Theory of Fiat Money'
Occasional Xs: The futile attempt to recycle MMT (CLXXXVII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 6, 2025
MMTers have the sequence of money creation and destruction wrong. For the axiomatically correct monetary theory, see
The Dark-Matter Theory of Fiat Moneyhttps://t.co/A5k0pCSHCn
For the full-spectrum refutation of MMT, see cross-references
Occasional Xs: How it works (CCCLXXXIV)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 6, 2025
“Javier Milei has achieved a $64 billion surplus so far this year. Meanwhile, the United States is projected to have a $1.9 trillion deficit for the year 2025.” (Bryce Lipscomb)
Javier Milei is a proponent of Austrianism. This alone tells one that…
Occasional Tweets: The mystery of wealth creation unveiled (IV)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 6, 2025
“The top 1% now owns more than $54 trillion in wealth. That’s 468 times more than the bottom 50%. One man — Elon Musk — owns more than the bottom half COMBINED. This is what I mean when I talk about oligarchy.” (Sen. Bernie Sanders)
As a…
August 5, 2025
Occasional Xs: Clueless economists / Inflation / Deflation (XLVII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 5, 2025
The axiomatically correct macroeconomic Law of Supply and Demand ⇓ tells one how ― in the elementary case ― the avg price P moves under the condition of market clearing as a function of avg wage rate W, inverse avg productivity R, and… pic.twitter.com/YLfivKEqHG
Occasional Tweets: Gatekeepers (II)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) August 5, 2025
For over 200 years, economics has claimed to be a science, but it still isn't. The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their derivatives) are are mutually contradictory and axiomatically false and… pic.twitter.com/XXSIm5nmTS