Profit/Distribution: cross-references

Posts and abstracts

• Keynes―Marx―Profit: The abysmal scientific failure of economics   here
• Profit: The most powerful formula of economics   here
• Profit   here
• MMTers: too stupid for simple math   here
• There are NO crank scientists in economics because economics is NOT a science   here
• How Randall Wray takes the piss out of the House Budget Committee   here
• Marx and Marxists ― too stupid for the elementary algebra of profit   here
• Exploding the Household Fallacy   here
• Gosh! the One Percent have gotten $21 trillion richer: Links on Distribution   here
• Keynes ― the poster boy for the weakness of the economist’s mind   here
• The dirty secret of Capitalism: Economists have NO idea how Capitalism works   here
• Profit analysis ― another exercise in economic deception   here
• Profit and Distribution Theory is false for 200+ years   here
• Economics: failure, fake, fraud   here
• Macroeconomics: Economists are too stupid for science   here
• Safe assets ― how the State pampers the Oligarchy   here
• The CCC ― a monument of economists’ utter scientific incompetence   here
• Yes, economists are really that stupid   here
• Dear idiots, it is deficit spending that creates the distribution people complain about   here
• Dear idiots, MMTers are Wall Street’s agenda pushers   here
• The public-debt and private-profit pushers   here
• How counterfeiters save America with an extra profit and make WeThePeople pay for it   here
• Some nasty MMT surprises behind the time horizon   here
• Basics of Value Theory   here
• MMT: Distribution is the drawback NOT Inflation   here
• Profit and macrofoundations   here
• Deficit-spending, public debt, and macroeconomic profit/loss   here
• Links on James Petras’ ‘Big Business Strikes Back: The Class Struggle from Above’   here
• MMT and the overall political corruption of economics   here
• Very busy these days: Wall Street’s agents   here
• MMT, Warren Mosler, and the little helpers from Wall Street and Academia   here
• If we only had classes   here
• Heterodox economics: When stupidity becomes a public danger   here
• Why the MMT benefactors of humanity never talk about profit   here
• There is NO such thing as a “labor share of income”   here
• Good news for the one-percenters   here
• Go! ― test the Profit and Employment Law   here
• Economists simply don’t get it   here
• How to get rid of inflation and deflation   here
• How Keynesians, Lernerians, MMTers make the oligarchy great   here
• The Magic Money Tree is real ― too bad that the magic is a fraud   here
• The inexorable paradigm shift in economics   here
• Wikipedia and the promotion of economists’ idiotism (II)   here
• Truth by definition? The Profit Theory is axiomatically false for 200+ years   here
• MMT: How mathematical incompetence helps the Kelton-Fraud   here
• The Kelton-Fraud   here
• Profit: after 200+ years, economists are still in the woods   here
• It has been said before but economists still don’t get it   here
• Nietzsche, entropy, full employment, and NO class war   here
• The Third Way: Towards the Happy Zero-Tax economy   here
• How economists missed out on the essential relationship of economics   here
• The demise of phony experts: macroeconomics is provably false   here
• How MMT enlightens Washington   here
• Profit and the Private-Property-Irrelevance Theorem   here
• Profit: after 200+ years still elusive   here
• Marx today   here
• Capitalism, poverty, exploitation, and cross-over exploitation   here
• The curious non-existence of profit in economics   here
• Note on “Era of Austerity coming to an end...”   here
• DSGE and profit―forget it! MMT and profit―forget it!   here
• MMT is idiocy and fraud   here
• Fiscal policy and the Humpty Dumpty Fallacy here
• The perennial conundrum: profit and distribution   here
• Ricardo and the invention of class war   here
• Profit, income, and the Humpty Dumpty Fallacy   here
• MMT = proto-scientific junk + deception of the 99-percenters   here
• Down with idiocy!   here
• Keynes, Lerner, MMT, Trump and exploding profit   here
• The profit theory is false since Adam Smith   here
• Economists understand neither Capitalism nor Socialism   here
• Saving NEVER equals investment   here
• MMT: Just political heat, no scientific light   here
• MMT: Money-making for the one-percenters   here
• The profit effect of a Job Guarantee   here
• National Accounting: scientific incompetence or political fraud?   here
• Profit and the decline of workers’ nominal share   here
• MMT ― the economics moron as problem solver   here
• Where modern macroeconomics went wrong   here
• Why economists don’t know what profit is   here
• Rectification of MMT macro accounting   here
• Karl Marx, fake scientist    here
• Profit and the decline of labor’s nominal share   here
• MMT and the magical profit disappearance   here
• Economists: scientists or political clowns?   here
• Profit and stupidity   here
• Just revealed: IS-LM is dead for 80+ years   here
• Profit and distribution: a primer   here
• Where MMT got macro wrong   here
• Austerity and the idiocy of political economists   here
• Rethinking the Distribution   here
• Where economics went wrong   here
• A vacuous analysis of profits and productivity   here
• Windmill economics   here
• Profit and price ― solving the mystery   here
• How the 99 percent can bring overall profit of the 1 percent legally down to zero in 2017   here
• Inequality: Market failure or theory failure?   here
• Income distribution: No market failure but theory failure   here
• The economic machine is broken? Don’t call the heterodox repairman!   here
• The distribution theory is false because the profit theory is false   here
• Macro for dummies   here
• The monetary circuit and how economists got it wrong   here
• Why economists know nothing   here
• Economists still don’t get Econ 101 right   here
• Rethinking the Profit Law   here
• Rethinking deficit spending   here
• How to end the Punch and Judy show about profit   here
• The thing with profit and exploitation   here
• Wikipedia and the promotion of economists’ idiotism (I)   here
• The final implosion of MMT   here
• Economics between science and magic   here
• A new episode of one of the worst blunders of economics   here
• Keynesian macrofoundations are defective   here
• The general theory of scientific incompetence   here
• How Keynes got macro wrong and Allais got it right   here
• Keynesianism: The triumph of blathering over thinking   here
• Clueless about money and profit   here
• Demystifying employment theory and policy   here
• The unfinished Keynes (III)  here
• Making the economy the focus of the economists’ dialogue   here
• Stock prices, profit, and other self-fulfilling idiocies   here
• History and future of the monetary economy   here
• There is no thrift paradox, or, How economists fell over their own feet   here
• Enough! Economists, retire now!   here
• The actual distribution is unacceptable? Do NOT seek economic advice!   here
• Fatal defects of profit and market theory   here
• The scientific self-elimination of Heterodoxy   here
• The tiny little problem with economics   here
• The great economic equations   here
• Hayek or how economists miss their subject matter for more than 200 years   here
• The unintended consequences of deficit spending   here
• Economic policy has gone wrong because economic theory has gone wrong   here
• High profits and low economics   here
• The solemn burial of marginalism   here
• How Keynes messed macro up   here
• As Napoleon said: don’t listen to economists   here
• How the American working class can bring overall profits down to zero without bloody revolution   here
• Profit, marginalism, and other anomalies   here
• Your profit theory is false   here
• “As goes GM, so goes America” — A rather ordinary fallacy of composition here
• How the intelligent non-economist can refute every economist hands down   here
• Wages and profits are NOT the components of income   here
• Heterodoxy, too, is scientific junk   here
• Confounding sociology and economics   here
• The very real problem of zero scientific utility   here
• No culpa, only stultitia   here
• Who said what to whom — and does it matter?  here
• Essentials of Constructive Heterodoxy: profit  here
• Income, profit, distributed profit: a radical simplification  here
• Refocusing the debt/profit issue  here
• The Profit Law  here
• Inequality, wage, and profit  here
• Kalecki's wrong definition of profit and income  here
• The universal Profit Law and the multitude of unique historical circumstances  here
• The profit theory is false since Adam Smith. What about the true distribution theory?  here
• What the Top 20 heterodox economists say  here
• Profit for Marxists  here
• Where is profit?  here
• Profit is the key  here
• Flawed logic  here

Profit is the pivotal concept for the analysis of how the economy works. Without a correct profit theory, economics is vacuous. The conventional profit theory is logically indefensible. Economists have no true conception of the most important phenomenon in their universe.

Working papers

• How the intelligent non-economist can refute every economist hands down   SSRN
• The profit theory is false since Adam Smith. What about the true distribution theory?  SSRN
• The emergence of profit and interest in the monetary circuit   SSRN
• Profit for Marxists   SSRN
• Primary and Secondary Markets   SSRN
• Debunking squared   SSRN
• Understanding profit and the markets: the Canonical Model   SSRN
• Income distribution, profit, and real shares   SSRN
• When Ricardo saw profit, he called it rent: on the vice of parochial realism  SSRN
• Schumpeter and the essence of profit   SSRN
• Uniform profit ratios   SSRN
• Keynes' missing axioms   SSRN

Meta references

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Wikimedia AXEC143d AXEC® Profit Law and Balances Equation (with the increasing complexity of the economy)