Occasional Tweets: Logic is a faculty economists never had and never missed

 

#Economists are too stupid for the elementary #Algebra that underlies #MacroEconomics. Because they cannot properly apply the tools of #Logic, economists NEVER got above the level of proto-scientific garbage.
The GDP-death-blow for the economics professionhttps://t.co/QJycQUh0Uj pic.twitter.com/ygtRbUyhxK

— E.K-H (@AXECorg) April 29, 2021

For more on economists' logical weakness/stupidity see AXECquery. 

The new doctrine of State Capture

Comment on Stephanie Kelton/Kaivey on ‘Why The U.S. Can’t Go Broke’

Blog-Reference

Stephanie Kelton's Deficit Myth is scientifically refuted and proven to be agenda-pushing for the advantage of the Oligarchy and the disadvantage of WeThePeople:

• The page where Stephanie Kelton gets macroeconomics wrong
• MMT has been conclusively refuted and MMTers can do NOTHING about it.

The question of whether the U.S. can go broke is beside the point because the U.S. economy can go broke and take the state with it

• The U.S. economy hangs on the state ventilator for its survival.

The 3-sector Profit Law Q≡(G−T)+(I−S)+Yd implies that the greater part of the macroeconomic profit is produced by public deficit-spending/money-creation. The growing public debt secures the permanent self-alimentation of the Oligarchy.

Obviously, there is a change of strategy going on. The old-generation Oligarchy was anti-state: “I don’t want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub.” (Reagan, 2001) The new-generation Oligarchy tries to capture the state and in particular the ‘means of production’ of profit, i.e. Treasury and Fed. The task of MMT is to propagandistically support Politburo's new strategy:

• Prophet Stephanie divines the seizure of the means of production of currency
• MMT ― now official doctrine

Egmont Kakarot-Handtke

Related 'From austerity talk into deficit overdrive' and 'Note on “Era of Austerity coming to an end...” and 'Links on Austerity' and 'Austerity and the political games Progressives play' and 'Keynes, Lerner, MMT, Trump, Biden, and exploding profit' and 'MMT: The fusion of Wall Street and Academia' and 'MMT ― now official doctrine' and 'Political fraud and the silence of academia' and 'State capture ― time to switch rhetoric' and 'Economics, MMT, and the capture of science by the political mob'.

***

Longtermtrends Apr 29 Growing public debt

(acts as a macroeconomic Profit Pump. The extreme spike on the right-hand side requires/signals a change of doctrine. This is where the MMT slogan deficit/debt-is-good comes in.)

***

 

Twitter Apr 29  Growing public debt, the new=old survival strategy for the U.S. economy

Twitter Feb 16, 2023 Self-alimentation and State Capture

Twitter/X Dec 29, 2023, The Fed as a direct profit pump

Occasional Tweets: MMTers have to be excluded from the “civil and respectful discourse” of the scientific community

 

It is scientifically correct to call #MMT a political #Fraud and #MMTers stupid/corrupt #AgendaPushers.

Proof of MMT's inconsistencyhttps://t.co/q2Il6sxwQu

MMTers have to be excluded from the “civil and respectful discourse” of the scientific community. pic.twitter.com/CzzPmXitDU

— E.K-H (@AXECorg) April 27, 2021

#MMTers#StupidOrCorruptOrBoth

Warren Mosler: scientific dilettante and political fraudsterhttps://t.co/cfdeaNger3

The Kelton Fraudhttps://t.co/BN9izLduPa

Bill Mitchell, MMT, Progressives: economists as Oligarchy hackshttps://t.co/KNud5IMF4E

— E.K-H (@AXECorg) April 28, 2021

Occasional Tweets: Scientific incompetence ― the case of Krugman and his applause trolls

 

#Economics#BadScienceBadPolicyBadPeople

Apparently, there are 2 or 3 poor souls left who take the fake scientist and brain-dead agenda-pusher Krugman seriously.

Links on Paul Krugman, proto-scientific impresariohttps://t.co/RRYQuNSgTU pic.twitter.com/i9Jhh0faoJ

— E.K-H (@AXECorg) April 27, 2021

Incompetence

• Economists' scientific incompetence
• Economists’ scientific incompetence is worse than the plague
• Economists cannot properly apply scientific tools
• Economics has a science problem
• The CCC ― a monument of economists’ utter scientific incompetence
• Socialism and scientific incompetence
• Economics: Math is NOT the problem, scientific incompetence is
• MMT: How mathematical incompetence helps the Kelton-Fraud
• False models and true incompetence
• National Accounting: scientific incompetence or political fraud?
• MMT: scientific incompetence or political fraud?
• Economics: a hereditary mental disease with scientific incompetence as father and political fraud as mother
• Economics: 200+ years of scientific incompetence and fraud
• Ditch scientific incompetence!
• The fundamental problem of economics: scientific incompetence aka stupidity
• Economics: Two centuries of scientific incompetence
• The general theory of scientific incompetence
• What is dead certain in an uncertain world: economists’ abysmal incompetence
• Tobin, the tragedy of After-Keynesians, and the indelible mark of incompetence
• Unemployment ― the fatal consequence of economists’ scientific incompetence
• Marginalism is the landmark of scientific incompetence
• Mathiness is NOT the problem — scientific incompetence is
• Economists’ three-layered scientific incompetence
• Incompetence — the original sin in economics
• Complexity, scientific incompetence, and the art of asking the right questions
• Moral incompetence or scientific incompetence?
• Failure: method or incompetence?
• Yes, economists are really that stupid
• How the Intelligent Non-Economist Can Refute Every Economist Hands Down
• Marshall: a monument of scientific incompetence
• For details of the big picture see cross-references Scientific Incompetence

***

Twitter, 2 Sep, 2021 Krugman's cat ― economics for the for the mentally and

 emotionally disturbed

Occasional Tweets: How MMT Progressives progress

 

The macro #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. The policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Bigger is better, thank you, Prez Biden!

Deficit cheerleaders ― the Oligarchy’s useful idiotshttps://t.co/XX5wLu3cSJ

— E.K-H (@AXECorg) April 27, 2021

MMT Progressives

• Get it: MMT-Progressives don’t tax the rich
• Bill Mitchell, MMT, Progressives: economists as Oligarchy hacks
• MMTers are false Progressives and false Friends-of-the-People
• Links on MMTers push Wall Street’s agenda
• MMT Progressives: The knife in the back of WeThePeople
• MMT Progressives: stupid or corrupt or both?
• Austerity and the political games Progressives play
• Progressive shell games
• MMT: So-called Progressives as trailblazers for Trumponomics
• MMT and the promotion of Wall Street's idea of social policy

Occasional Tweets: "Scrap the lot"

 

#Economics#FailedScience#FakeScience#Economists#StupidOrCorruptOrBoth

“Scrap the lot” (Joan Robinson)

— E.K-H (@AXECorg) April 26, 2021

For more on Joan Robinson see AXECquery. 

Occasional Tweets: Economists cannot properly apply scientific tools

 

#Economists are too stupid for the elementary #Algebra that underlies #MacroEconomics. Because they cannot properly apply the tools of #Logic, economists NEVER got above the level of proto-scientific garbage.
The GDP-death-blow for the economics professionhttps://t.co/QJycQUh0Uj pic.twitter.com/FHTXfBf5Xo

— E.K-H (@AXECorg) April 25, 2021

For more about Science see AXECquery.

For more about Methodology see AXECquery.

Occasional Tweets: Economics has a science problem

 

#Economics#FailedScience

Economics has a science problem ― for 200+ years now.

Economists are NOT scientists but stupid/corrupt storytellershttps://t.co/lQpbsbUQZF pic.twitter.com/QzZK8nJIMS

— E.K-H (@AXECorg) April 23, 2021

For more about science see AXECquery. 

Occasional Tweets: Old stuff ― how economists serve the Oligarchy

 

#HowEconomistsServeTheOligarchy#DeficitSpendingMoneyCreation is NOT a new #Paradigm. The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. The current policy will result in a #ProfitExplosion. Thank you, President Biden! ⇒https://t.co/ku7oY46aQv

— E.K-H (@AXECorg) April 23, 2021

Economists: stupid or corrupt or both?

• Fact of life: Your econ prof is scientifically incompetent
• Are economics professors really that incompetent? Yes!
• The GDP-death-blow for the economics profession
• MMT: The fusion of Wall Street and Academia
• How Keynesians, Lernerians, MMTers make the Oligarchy great
• Political fraud and the silence of academia
• Not all academic pursuits are science
• Economics as a cover for agenda-pushing

For more on Political Economics see AXECquery.

Occasional Tweets: Criminals and the Monetary Order (I)

 

States can spend more than they have taxed. This hurts #WeThePeople through #StealthTaxation. #DeficitSpendingMoneyCreation produces a #FreeLunch for the #Oligarchy according to the 3-sector #ProfitLaw Q≡(G−T)+(I−S). #PrivateFinancialWealth grows in lockstep with #PublicDebt. pic.twitter.com/3Rw1ob3lqM

— E.K-H (@AXECorg) April 22, 2021

Blog Post Criminals and the monetary order

For more about MMT see AXECquery.

 

Occasional Tweets: Economists are not scientists but storytellers (I)

 

You say: “Lol, but economists are storytellers!” #Storytelling is NOT #Science but #Propaganda/#BrainWashing/#Fraud. #Economists are NOT scientists but #Clowns/#UsefulIdiots in the political #CircusMaximus.

Media-fake-farce-fraud-storytelling-macrohttps://t.co/9lFFKXBPU8 pic.twitter.com/euMsdBArpM

— E.K-H (@AXECorg) April 22, 2021

 

 Storytelling / Propaganda / Agenda-Pushing / Deception / #DisInfoTainment / Blather

• Economics as storytelling and entertainment for the masses
• The long genealogical tree of economic storytelling
• Media-fake-farce-fraud-storytelling-macro
• Economics — from storytelling to science
• Politics, storytelling, and science
• Economic narratives are for the scientific garbage dump
• Storytelling vs Theory = Politics vs Science
• How to save the economy from storytelling economists
• Storytelling and facts
• The end of storytelling
• Economics: Stories, narratives, and disinformation
• Narrative economics and the imperatives of the sitcom
• Mental messies and loose losers
• The subtle distinction between storytelling and science
• Circus Maximus: Economics as entertainment, personality gossip, virtue signaling, and lifestyle promotion
• Failed economics: The losers’ long list of lame excuses
• Wikipedia, economics, scientific knowledge, or political agenda pushing?
• Economics: The greatest scientific fraud in modern times
• Links on the Economics Nobel

***

For more on communication see AXECquery.

***

Twitter Apr 23

Occasional Tweets: Keynes is dead ― no false-hero memorials (II)

 

#Economics#FailedScience#Economists#StupidOrCorruptOrBoth#Keynes messed up macroeconomics 80+ years ago but After-Keynesians have not realized anything to this day.

Clueless economists / Macrofoundationshttps://t.co/Lj85oSJUY6#DefundEconomics #FireEconomists #ScrapTheLot pic.twitter.com/T5ZnnVTEom

— E.K-H (@AXECorg) April 21, 2021

#NoFalseHeroMemorials#Keynes NEVER understood what #Profit is because he was too stupid for the elementary #Algebra of #Macrofoundations. This is scientifically disqualifying.

In the grand scheme of things, Lord Keynes was only a small-time crookhttps://t.co/qD8aPg7TXv pic.twitter.com/aRzk6lrBpP

— E.K-H (@AXECorg) April 21, 2021

#Keynes

J. Kromphardt overlooked Keynes' lethal blunder: “Income = value of output = consumption + investment. Saving = income − consumption. Therefore saving = investment.” (GT p. 63)

Keynes ― the poster boy for the weakness of the economist’s mindhttps://t.co/RgruUzd0gx

— E.K-H (@AXECorg) April 21, 2021

Immediately preceding Keynes and Keynesianism are scientifically worthless.

For more on Keynes see AXECquery. 

Occasional Tweets: MMT is refuted ― forget this proto-scientific garbage

 

#MMT#FailedScience#MMTers#StupidOrCorruptOrBoth

Nobody is afraid of MMT because it has been conclusively refuted and MMTers can do NOTHING about ithttps://t.co/jM3JFoLOoA

— E.K-H (@AXECorg) April 20, 2021

MMT has been conclusively refuted and MMTers can do NOTHING about it

Comment on James Galbraith on ‘Who’s Afraid of MMT?’*

Blog-Reference and Blog-Reference and Blog-Reference

James Galbraith summarizes: “What, then, is MMT? Contrary to the claims of King and Rajan, it is not a policy slogan. Rather, it is a body of theory in Keynes’s monetary tradition, which includes such eminent thinkers as the American economist Hyman Minsky and Wynne Godley of the UK Treasury and the University of Cambridge. MMT describes how ‘modern’ governments and central banks actually work, and how changes in their balance sheets are mirrored by changes in the balance sheets of the public ― an application of double-entry bookkeeping to economic thought. Thus, as Kelton writes in the plainest English, the deficit of the government is the surplus of the private sector, and vice versa.”

Yes, indeed that's MMT in a nutshell and the last sentence is provably false because MMTers are too stupid for the elementary algebra that underlies macroeconomic accounting. Neither the followers of Stephanie Kelton et al. nor the critics of MMT ever spotted the blunder in the formal foundations that invalidates the whole approach.

So MMT is scientifically worthless and can be unceremoniously buried at the Flat-Earth-Cemetery. Politically, though, MMT has still some use-value for fooling WeThePeople. As a consequence, only stupid/corrupt agenda pushers defend or criticize MMT. No scientist wastes time with this proto-scientific garbage.

For those who want to check the refutation in greater detail here are the relevant references

• ad Keynes: Wikipedia, economics, scientific knowledge, or political agenda pushing? Section Provably false/Keynes
• ad Kelton: The page where Stephanie Kelton gets macroeconomics wrong
• ad Mitchell: Proving Bill Mitchell wrong ― burying MMT for good
• ad Mitchell: MMT is dead: An unfriendly critique of Bill Mitchell
• ad Mosler: MMT: The one deadly error/fraud of Warren Mosler
• ad Keen: MMT: fraudsters united
• ad Wray: MMT: Agenda-pushing and money-making for the Oligarchy
• ad Godley: Do economists finally wake up from their methodological delirium?
• ad Kalecki: MMT: How mathematical incompetence helps the Kelton-Fraud
• ad Minsky: Profit is the key
• ad Textbook: Refuting MMT’s Macroeconomics Textbook
• Where MMT got macro wrong
• MMT-Refutation for Dummies
• Quick MMT 101 refutation
• MMT refuted in three easy steps
• Refutation of MMT: All proofs and arguments you ever need
• For details of the big picture see cross-references MMT
• MMT is refuted ― end of story.

Egmont Kakarot-Handtke

* B&FT Online

***

#PointOfProof

#EconBlocker

Occasional Tweets: Is MMT the spearhead of Democracy or Oligarchy?

 

#Economics#MMT#BadScienceBadPolicyBadPeople

MMT undermines democracyhttps://t.co/va3g4QuMEv

— E.K-H (@AXECorg) April 20, 2021

For more about economics and democracy see AXECquery.

For more about economics and oligarchy see AXECquery.

***

Wikimedia AXEC142b

Economists betray WeThePeople

Comment on Dean Baker on ‘Putting the debt in context’

Blog-Reference

The 3-sector Profit Law Q≡(G−T)+(I−S)+Yd implies that the greater part of macroeconomic profit Q is produced by public deficit-spending/money-creation (G−T). So, a growing public debt secures the permanent self-alimentation of the Oligarchy.#1

Because of Public Deficit = Private Profit, MMT policy is a free lunch for the Oligarchy. Stephanie Kelton's Deficit Myth is scientifically refuted and proven to be agenda-pushing for the advantage of the Oligarchy and disadvantage of WeThePeople. MMTers are scientific nullities and political fraudsters because they pose as Friends-of-the-People.#2-#4

Private financial wealth grows in lockstep with public debt. Financial wealth in turn generates interest income which is taxed from WeThePeople and handed over to the Oligarchy as long as the debt is rolled over.#5, #6

The MMT policy of deficit-spending/money-creation (for consumptive purposes) is economically a bad deal for WeThePeople. Politically, it amounts to the self-destruction of Democracy.#7 The role of the captured state is to produce sufficient macroeconomic profit. The Oligarchy, in turn, uses the opulent deficit-produced free lunches to nudge the state’s legislative, executive, and judiciary institutions in its favor.

Academic economics ― left, center, right does NOT matter ― plays a supporting role in the process as the propaganda arm of the Oligarchy. Scientifically, economics is worse than worthless.

Egmont Kakarot-Handtke

#1 The U.S. economy hangs on the state ventilator for its survival

#2 The page where Stephanie Kelton gets macroeconomics wrong

#3 Proving Bill Mitchell wrong ― burying MMT for good

#4 Warren Mosler: scientific dilettante and political fraudster

#5 From the debt economy to the gift economy: how America is brainwashed to love budget deficits

#6 How to view public debt ― good for the Oligarchy, bad for WeThePeople

#7 MMT undermines democracy

Related 'Where economics went wrong (II)' and 'The representative economist ― a cargo cult clown' and 'Economics is Not a science, economists are NOT scientists' and 'Since the founding fathers, economics is NOT science but political agenda-pushing' and 'The fatal effect of MMT policy is NOT on inflation but on distribution' and 'Political fraud and the silence of academia' and 'MMT: The fusion of Wall Street and Academia' and 'The representative economist ― a cargo cult clown'. For details of the big picture see cross-references Failed/Fake Scientists and cross-references Political Economics/Stupidity/Corruption.

For more on Dean Baker see AXECquery.

***

Wikimedia AXEC108g

Occasional Tweets: Why the public debt must rise incessantly

 

#LearnEcon

The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies that the greater part of macroeconomic #Profit is produced by public #DeficitSpendingMoneyCreation. So, the growing #PublicDebt secures the permanent self-alimentation of the #Oligarchy. ⇒https://t.co/ATzyx3kUYT

— E.K-H (@AXECorg) April 19, 2021

Occasionional Tweet: The representative economist ― a cargo cult clown

 

The Krugman selfie “most of what I and many others do is sorta-kinda neoclassical because it takes the maximization-and-equilibrium world as a starting point” tells one that he has always been a #Clown/#UsefulIdiot in the political #CircusMaximus.
Linkshttps://t.co/RRYQuNSgTU

— E.K-H (@AXECorg) April 16, 2021

For more about the representative economist Krugman see AXECquery.

For more about the representative economist in general see AXECquery.

For more about cargo cult see AXECquery.

***

Wikimedia AXEC140b

Wikimedia AXEC169

Occasional Tweets: Economics is Not a science, economists are NOT scientists

 

#FakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are mutually contradictory, axiomatically false, materially/formally inconsistent, and ALL get the foundational concept of #Profit wrong. #Economics is NOT a #Science. #Economists are NOT #Scientists. pic.twitter.com/SWEsRmP3BN

— E.K-H (@AXECorg) April 15, 2021

Economic policy: new rhetoric, old agenda

Comment on Barkley Rosser on ‘Congress Steadily Degenerating’

Blog-Reference

The correct designation of the U.S. political system is Oligarchy and not Democracy.#1

It is not exactly a sign of Barkley Rosser's political smartness that it took the visit of a niece to realize the obvious: “But she admitted one more factor that has been building up. She has become disgusted with Congress itself, that it is getting worse and worse, just steadily degenerating. Her bottom line: every time a member leaves they are replaced by somebody worse, and these new ones have been getting really bad.”

The fact is, though, that Congress is just playing its role in the system. This is easy to see by focussing on economic policy.

The 3-sector Profit Law Q≡(G−T)+(I−S)+Yd states that the greater part of macroeconomic #Profit is actually produced by public deficit-spending/money-creation.#2 Growing public debt guarantees the permanent self-alimentation of the Oligarchy. This is rather old stuff but the COV19 pandemic makes it plain to everybody.#3, #4

The Profit Law implies Public Deficit = Private Profit. COV19 is a godsend. More deficit-spending/money-creation will result in a profit explosion. With their crisis policy, all that President Biden and Congress are doing is playing their proper roles in the oligarchic order.#5

The role of the state is to produce sufficient macroeconomic profit. The Oligarchy, in turn, uses the opulent deficit-produced free lunches to nudge the state’s legislative, executive, and judiciary institutions in its favor. Academic economics plays a supporting role as a propaganda arm of the Oligarchy.#6, #7

No surprise here for those who have been paying attention and do not need a niece for coming to grips with political reality.

Egmont Kakarot-Handtke

#1 Newsweek, Marianne Williamson, The United States of Oligarchy

#2 Profit

#3 Keynes, Lerner, MMT, Trump, Biden, and exploding profit

#4 The U.S. economy hangs on the state ventilator for its survival

#5 Deficit cheerleaders ― the Oligarchy’s useful idiots

#6 Economics, MMT, and the corruption of science

#7 MMT ― now official doctrine

Related 'From austerity talk into deficit overdrive' and 'Stephanie Kelton and the self-destructive stupidity of the super-rich' and 'How economists serve the rich (II)' and 'Gosh! the One Percent have gotten $21 trillion richer: Links on Distribution'.

Occasional Tweets: Marx was NOT a scientist/ philosopher/satanist

 

#Econ

“Feeling extremely sorry for those who don’t speak” German and will never get the history of economic thought straight.

Marx was NOT a scientist/philosopher/satanist but a stupid/corrupt political agenda-pusher.

Wolfgang Waldner, Der preußische Regierungsagent Karl Marx

— E.K-H (@AXECorg) April 12, 2021

Karl Marx: journalist, pamphleteer, agenda pusher

• Marx and Marxists ― too stupid for the elementary algebra of profit
• Karl Marx, fake scientist
• Dear idiots, Marx got profit and exploitation wrong
• Marx, the moron
• Links on Karl Marx

For more on Marx see AXECquery.

Occasional Tweets: Stop beating the dead economics horse

 

#Economics#FailedScience#Reset

Stop beating the dead horse and do the Paradigm Shift.

Where modern macroeconomics went wronghttps://t.co/lV8jLjtMx6

True macrofoundations: the reset of economicshttps://t.co/VcInqsJ4f7 pic.twitter.com/rGtVFWDrrk

— E.K-H (@AXECorg) April 11, 2021

From false microfoundations to true macrofoundations

• Wikipedia, economics, scientific knowledge, or political agenda pushing?
• The myth of economics knowledge
• Lacking the Midas touch of science
• Profit and the collective failure of economists
• Economists’ three-layered scientific incompetence
• False economic theory makes bad economic policy
• If it isn’t macro-axiomatized, it isn’t economics
• How to restart economics
• First Lecture in New Economic Thinking
• New Economic Thinking: The 10 crucial points
• Redefining economics
• From false micro to true macro: the new economic Paradigm
• Do first your macroeconomic homework
• Show first your economic axioms or get out of the discussion
• True macrofoundations: the reset of economics
• The new macroeconomic Paradigm
• The canonical macroeconomic model
• Your economics is refuted on all counts: here is the real thing

For more on macrofoundations see AXECquery.

Occasional Tweets: Since the founding fathers, economics is NOT science but political agenda-pushing

 

#EconomistsServeTheOligarchy#Economics is failed/fake #Science to this day. #Economists are NOT #Scientists but #Clowns / #UsefullIdiots in the political #CircusMaximus.

Cross-references Political Economics/Stupidity/Corruptionhttps://t.co/tcf7JJQr5o pic.twitter.com/o4oNDOblKR

— E.K-H (@AXECorg) April 10, 2021

For more on economics as the propaganda arm of the Oligarchy see AXECquery.

For more on Political Economics see AXECquery.

For more on cargo cult science see AXECquery.

Occasional Tweets: The fatal effect of MMT policy is NOT on inflation but on distribution

 

#LearnEconomics

Stephanie Kelton's Deficit Myth is scientifically refuted and proven to be agenda-pushing for the advantage of the #Oligarchy and disadvantage of #WeThePeople.

The page where Stephanie Kelton gets macroeconomics wrong https://t.co/CNFDkXM1Ki pic.twitter.com/qNw2TXFDMl

— E.K-H (@AXECorg) April 10, 2021

For more on inflation see AXECquery. 

For more on distribution see AXECquery. 

Occasional Tweets: The definition of economics

 

#Economics#FailedScience#Economists#StupidOrCorruptOrBoth

Economics ― still the ‘science’ of the mentally impairedhttps://t.co/3kG8ZmexOH#DefundEconomics #FireEconomists #ScrapTheLot pic.twitter.com/cr3YYRHvBo

— E.K-H (@AXECorg) April 7, 2021

Failure

The history of economic thought is the history of scientific failure.

• Economics: failure, fake, fraud
• Economics: A failed/fake science for 200+ years
• Blowing smoke about bipartisan failure
• Economic policy and the skirmishes of failed/fake scientists
• The failure of Post Keynesianism
• Did economics fail? No! Yes, and everybody knows it!
• Why is economics a total scientific failure?
• Heterodoxy ― an axiomatic failure just like Orthodoxy
• What makes economics a failed science?
• What is so great about cargo cult science? or, How economists learned to stop worrying about failure
• Mass unemployment: The joint failure of orthodox and heterodox economics
• Failed economics: The losers’ long list of lame excuses
• Why economics is a failed science ― 24 excuses and 1 explanation
• OMG, after 200+ years, economics becomes a science
• Your economics is refuted on all counts: here is the real thing

Paradigm Shift

• Old definition, subjective-behavioral, microfoundations: "Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses." (Robbins)
• New definition, objective-systemic, macrofoundations: Economics is the science that studies how the monetary economy works.

For more about systems science see AXECquery.

For more about Paradigm Shift see AXECquery.

Economics ― still the "science" of the mentally impaired

Comment on Barkley Rosser on ‘The Death Of Yeshua Bin Yusuf’

Blog-Reference

Walrasianism, Keynesianism, Marxianism, Austrianism, MMT, and Pluralism are mutually contradictory, axiomatically false, and materially/formally inconsistent.#1 Since Adam Smith, economics is a failed/fake science.

The economist Barkley Rosser, though, is NOT worried that economics is proto-scientific garbage to this very day, he wonders instead how Jesus was probably called in Aramaic. And he wants to drive this point home: “Here is the hard core line from me: this guy really lived and most of what he said is for real.”

Needless to emphasize that historical research has established that the biblical Jesus never existed and that the Bible is a socio-pathological fabrication from the first letter to the last point.#2-#4

The absurdity of the situation consists of: (i) the economist Barkley Rosser gets the subject matter of economics wrong because he is too stupid for the elementary algebra that underlies macroeconomics,#5, #6 (ii) true to the traditional strategy of economics imperialism#7 this incompetent scientist dabbles in religion, (iii) unsurprisingly, from inborn sloppiness he ignores the current state of research in this offside field.#8

How can it be that a person who violates all scientific standards and lacks all insight into his own scientific incompetence enjoys a good standing in academic economics?

It cannot be a coincidence that economics is failed/fake science and that incompetent scientists occupy the organizational control centers from peer review, textbooks, grants/financing, to the EconNobel. This makes only sense if economics is NOT a science but a branch of the propaganda/entertainment industry.

The fact is, that the benchmark of economics is NOT cutting-edge science but the art of lobotomizing a population by storytelling as it has been perfected by the different priesthoods throughout history.

The significance of Barkley Rosser's Yussuf story is to tell the intellectual proletariat of Econ 101 that stupidity is NOT a hindrance to an academic career in economics but the essential precondition.#10 

Egmont Kakarot-Handtke

#1 Wikipedia, economics, scientific knowledge, or political agenda pushing?

#2 Richard Carrier, On the Historicity of Jesus

#3 Israel Finkelstein and Neil Silberman, The Bible Unearthed

#4 Hermann Detering, The Fabricated Paul

#5 Profit

#6 Macroeconomics ― still dead after 80+ years

#7 The dumb economist ― a jack of all trades

#8 The Supreme Being handed over these Twelve Economics Commandments

#9 Economics ― for 200+ years just storytelling and mythmaking

#10 Economists are NOT scientists

Related 'Economics: failure, fake, fraud' and 'Economics: A failed/fake science for 200+ years' and 'Economics: 200+ years of scientific incompetence and fraud' and 'The failure of Post Keynesianism' and 'Did economics fail? No! Yes, and everybody knows it!' and 'Why is economics a total scientific failure?' and 'Heterodoxy ― an axiomatic failure just like Orthodoxy' and  'What makes economics a failed science?' and 'What is so great about cargo cult science? or, How economists learned to stop worrying about failure' and 'Mass unemployment: The joint failure of orthodox and heterodox economics' and 'Failed economics: The losers’ long list of lame excuses' and 'Why economics is a failed science ― 24 excuses and 1 explanation' and 'Economics, communication, disinformation' and 'OMG, after 200+ years, economics becomes a science' and 'Your economics is refuted on all counts: here is the real thing.

For more on Barkley Rosser see AXECquery.

***

Wikimedia AXEC175

Occasional Tweets: Growing debt ― the permanent self-alimentation of the Oligarchy

 

The 3-sector #ProfitLaw Q≡(G−T)+(I−S) implies #PublicDeficitIsPrivateProfit. So, permanent deficit-spending/money-creation, i.e. a growing #PublicDebt secures the permanent self-alimentation of the #Oligarchy.

MMT works just fine (for the Oligarchy)https://t.co/J7ThjKM5fF

— E.K-H (@AXECorg) April 7, 2021

#Economics#FakeScience

The “brilliantly simple way to summarize” Economics is #IncompetenceWithoutComprehension.

The dirty secret of Capitalism: Capitalists have NO idea how the economy workshttps://t.co/jlB1gDW6P0#DefundEconomics #FireEconomists #ScrapTheLot

— E.K-H (@AXECorg) April 7, 2021

For more on capitalism see AXECquery. 

Occasional Tweets: Emoji economics ― a new low of political agenda-pushing

 

#Economics#FakeScience#Economists#StupidOrCorruptOrBoth

Economists' sweet-kids marketing of proto-scientific garbage is worse than the baby-kissing of slimy political candidates.#DefundEconomics #FireEconomists #ScrapTheLot

— E.K-H (@AXECorg) April 6, 2021

For more on communication see AXECquery.

Occasional Tweets: MMT is refuted ― end of story

 

#MMTers are too stupid for the elementary #Algebra of #MacroEconomics. Because the #MacroFoundations are false the whole analytical superstructure is false. By consequence, #MMT policy guidance has NO sound scientific foundations.⇒https://t.co/GrZ6Bceikyhttps://t.co/03Y1UsH8uC pic.twitter.com/NfvCN0BsnY

— E.K-H (@AXECorg) April 3, 20

***

For the details see thread.

***

Refutation of MMT

The foundational MMT sectoral balances equation is provably false. Because of this, the whole approach is scientifically worthless. Therefore, MMT policy is just brain-dead political agenda-pushing.

So, that is ALL one needs to know about MMT: (i) MMTheory is inconsistent, i.e. proto-scientific garbage (ii) MMTpolicy has NO sound scientific foundations (iii) MMT is a political fraud, i.e. because of #PublicDeficitIsPrivateProfit it benefits the Oligarchy (iv) MMTers are stupid or corrupt or both.

• Wikipedia, economics, scientific knowledge, or political agenda pushing?
• Proving Bill Mitchell wrong ― burying MMT for good
• The page where Stephanie Kelton gets macroeconomics wrong
• Refuting MMT’s Macroeconomics Textbook
• MMT refuted in three easy steps
• MMT-Refutation for Dummies
• Rectification of MMT macro accounting
• The state of MMT? Stone-dead!
• MMTers: too stupid for simple math
• Refutation of MMT: All proofs and arguments you ever need
• The unassailable formal refutation of MMT
• Additional proof of MMT’s inconsistency
• MMT has been conclusively refuted and MMTers can do NOTHING about it
• Modern Moronomic Theory
• For the full-spectrum refutation of MMT see coss-references MMT

Occasional Tweets: Can anyone take Paul Krugman seriously?

 

#Econ

Apparently, there are 2 or 3 poor souls left who take the fake scientist and brain-dead agenda-pusher Krugman seriously.

Links on Paul Krugman, proto-scientific impresariohttps://t.co/RRYQuNSgTU

Look, how they jump on the deficit/profit bandwagonhttps://t.co/ATbT92taXu

— E.K-H (@AXECorg) April 2, 2021

For more on Paul Krugman see AXECquery. 

Occasional Tweets: Economists at the intellectual zero lower bound

 

Snapshot: #Economists about thawing vacuum packaged tuna.

Who needs more proof that #Economics is failed/fake science and #Economists are unable to solve any problem that is more demanding than getting booger from the nose.

— E.K-H (@AXECorg) April 3, 2021