AXEC: New Foundations of Economics: Links on the Economics Nobel

Comment on Philip Mirowski on ‘Why Is There a Nobel Memorial Prize in Economics?’*

Own post, no external Blog-Reference and Blog-Link, and Blog-Reference

Economics claims to be science from Adam Smith/Karl Marx onward to the “Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel”. Yet, everyone who looks closely into the matter eventually arrives at the conclusion that economics is a failure/ fake/fraud or what Feynman called a cargo cult science: “They’re doing everything right. The form is perfect. ... But it doesn’t work. ... So I call these things cargo cult science because they follow all the apparent precepts and forms of scientific investigation, but they’re missing something essential.”

The major approaches ― Walrasianism, Keynesianism, Marxianism, Austrianism, MMT ― are mutually contradictory, axiomatically false, materially/formally inconsistent and all got the foundational economic concept of profit wrong.

All appearances to the contrary, economics is NOT a science but political agenda-pushing. Since the founding fathers, economists violate the principle of the separation of science and politics. Political economics has produced NOTHING of scientific value in the last 200+ years. As a result, neither right-wing nor left-wing economic policy guidance ever had sound scientific foundations. Economic controversies have not to be seen as a struggle for scientific progress but as turf wars of the billionaires-sponsored academic mob.

Economics is failure/fake/fraud from the curriculum to the peer review of journals to the Nobel Prize, and orthodox/heterodox/pluralist economists are part of it ― not to forget methodologists and the historians of economic thought. For details of the big picture see

The EconNobel is NOT a recognition of genuine scientific merits ― there are none in economics ― but a reward for successful agenda-pushing handed out by the Bank of Sweden on behalf of the Oligarchy. The Bank of Sweden is in NO position to pass judgment in matters of science.

Egmont Kakarot-Handtke

* The Mint Magazine

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Real-World Economics Review Ken Patterson Sep 22

Twitter Sep 2, 2020

Clearly, these 81 Nobelists are NOT aware of what science is all about and what scientific ethics implies. They are but clowns and useful idiots in the political Circus Maximus. Science, too, has become part of a shitshow.

Philip Mirowski, The Neoliberal Ersatz Nobel Prize, in Nine Lives of Neoliberalism

Twitter Mar 12, 2021, Another False-Hero Memorial

Twitter Mar 19, 2021 Fake Nobel Prize?

Twitter Oct 11, 2021 For the "greatest benefit to humankind" is not quite correct because economics is proto-scientific garbage to this day → econogenics