#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) July 12, 2025
“How does this relate to budget surpluses?” (Phil Waller)
Ok, sit down and listen.
The free-market economy runs on profit. Macroeconomic #Profit Qm is given by the axiomatically correct Profit Law/Balances Equation…
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.
July 12, 2025
Occasional Xs: How it works (CCCLXXIII)
Occasional Xs: The futile attempt to recycle Hayek (XL)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) July 12, 2025
“Nobody can be a great economist who is only an economist—and I am even tempted to add that the economist who is only an economist is likely to become a nuisance if not a positive danger.” (Friedrich Hayek)
Economics claims to be science but is NOT.… pic.twitter.com/UNNqWwXNs8
July 11, 2025
Occasional Xs: The futile attempt to recycle Hayek (XXXIX)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) July 11, 2025
“Hayek’s books should be available & recommended at more schools. Agree?” (Hayek Quotes)
No. Brainwashing children is one of the worst political crimes.
Economics claims to be science but is NOT. The major approaches (Walrasianism, Keynesianism,… pic.twitter.com/xhtWlhvTkh
Occasional Xs: The futile attempt to recycle MMT (CLXXXII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) July 11, 2025
“MMT is a description of an accounting fact when sovereign states issue their own currency. “ (David Rogers)
No, MMTers are too stupid for macroeconomic accounting. They have never understood profit and, as a logical consequence, how the economy… pic.twitter.com/S2lQZzsHwq
July 10, 2025
Occasional Xs: The futile attempt to recycle Milton Friedman (XXXIX)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) July 10, 2025
'The great achievements of science have not come from economists. To this day, economics has not progressed above the level of proto-scientific garbage.' (Friedman paraphrases)
Economics claims to be science but is NOT. The major approaches… pic.twitter.com/89Y0JxByHw
Occasional Xs: The futile attempt to recycle Keynesianism (LXXVI)
#Economics#FailedFakeScience
— AXEC (@EgmontHandtke) July 10, 2025
Keynes got macroeconomic profit wrong because he was too stupid for elementary algebra. So, he messed up the Paradigm Shift from microfoundations to macrofoundations. Because of this initial blunder, the whole of (micro & macro) economics is… pic.twitter.com/CzCTFZRaeU
July 9, 2025
Occasional Xs: The futile attempt to recycle von Mises (VIII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) July 9, 2025
“…Mises … one of the greatest economic thinkers of the 20th century.” (Mises Media)
von Mises never understood profit and how the economy works. That's rather bad for an economist.
The free-market economy runs on profit. Macroeconomic #Profit Qm…