#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) May 12, 2025
“Year after year economic theorists continue to produce scores of mathematical models and to explore in great detail their formal properties; and the econometricians fit algebraic functions of all possible shapes to essentially the same sets of data… pic.twitter.com/b2OmKJFq8Z
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.
May 12, 2025
Occasional Xs: Paradigm Shift (LXVI)
Occasional Xs: Econ 101― still proto-scientific garbage (X)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) May 12, 2025
“Good luck to all the A-Level economists taking their exam this morning.” (EconomicsInTen)
If you have not realized until now that economics is not much more than silly political blather you have wasted your time/money. So, you messed up the real IQ…
Occasional Xs: The futile attempt to recycle Hayek (XXXVII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) May 12, 2025
“Friedrich Hayek explains a fundamental difference between capitalism and socialism: 'Profit is a signal which tells us what we must do to serve people whom we don’t know.'” (Hayek Quotes)
Hayek never understood profit and how the economic system… pic.twitter.com/DHwT8vqz3f
May 11, 2025
Occasional Xs: Clueless economists / Distribution, Inequality (XIV)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) May 11, 2025
“The political class is failing American workers, creating trillions for the rich.” (Dirk Ehnts)
The longstanding MMT propagandist, Dirk Ehnts, apparently does not understand, that creating trillions for the rich is exactly what the MMT policy of…
May 10, 2025
Occasional Xs: Clueless economists / Profit (LXXXV)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) May 10, 2025
“You’ve been taught to hate profit. But profit isn’t greed. It’s the most honest feedback system ever created.” (Students for Liberty)
The scientific fact is that economists do not understand #Profit ― the foundational concept of the subject matter.… pic.twitter.com/26sXPwn6Nz
May 9, 2025
Occasional Xs: How it works (CCCLXIV)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) May 9, 2025
“Billionaire philanthropy is great, but we shouldn’t forget that market-made billionaires have made the world a better place by selling people goods and services that they want at prices they can afford. They’ve gotten rich precisely *because*…
May 8, 2025
Occasional Xs: Paradigm Shift (LXV)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) May 8, 2025
“I even venture (and I can already see the scathing comments; please refrain if you are in insulting mode) that macroeconomics has become a mature science.” (Olivier Blanchard)
Keynes got macroeconomic #Profit wrong because he was too stupid for… pic.twitter.com/U6jemnyrYH