Occasional Tweets: There is no such thing as economic sciences (I)

 

There is no such thing as ‘Economic Sciences’. #Economics is not ― and never has been ― about #Science / #Truth / #Knowledge. It is about political #AgendaPushing.

Economics is faux science ― the real problem with the EconNobelhttps://t.co/LN8w0j58m0 pic.twitter.com/oaiwvfcqGB

— E.K-H (@AXECorg) July 31, 2022

For details of the big picture see cross-references Proto-Science/Cargo Cult Science/Fake Science 

Occasional Tweets: The futile attempt to recycle Keynes (IX)

 

#Economics#FailedScience#FakeScience#Keynesianism has been buried long ago at the Flat-Earth-Cemetery. #Keynes was too stupid for the elementary #Algebra of #MacroFoundations and too incompetent for #Science.

Forget Keyneshttps://t.co/T6Y8aFo72J pic.twitter.com/7VFH5f7sZh

— E.K-H (@AXECorg) July 30, 2022

Occasional Tweets: Humpty Dumpty ― economic methodology in a nutshell

 

#Economics#FailedScience#FakeScience#Economists#StupidOrCorruptOrBoth

The Humpty Dumpty methodologyhttps://t.co/Fk1s6Wgrur pic.twitter.com/OwZI1uXvwc

— E.K-H (@AXECorg) July 30, 2022

For more about Humpty Dumpty see AXECquery. 

 

Occasional Tweets: Economics on Wikipedia is scientifically worthless

 

#FailedScience#FakeScience

The whole of #Economics on #Wikipedia is proto-scientific #Garbage.

Wikipedia, economics, scientific knowledge, or political agenda pushing?https://t.co/3x9c31peUB

Wikipedia and the promotion of economists’ idiotism (II)https://t.co/cr22ZpQ8H6

— E.K-H (@AXECorg) July 30, 2022

Related 'Wikipedia and the promotion of economists’ idiotism (I)' 

Occasional Tweets: Decoding economists's delightful rhetoric about distribution

 

#DearIdiots#LearnEcon#Distribution

The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. Thus, #PrivateFinancialWealth grows in lockstep with #PublicDebt. #WeThePeople owes the #Debt, #Oligarchy owns the #FinancialAssets, ie. the interest #CashCow. pic.twitter.com/DQS87EscRO

— E.K-H (@AXECorg) July 28, 2022

Occasional Tweets: Distribution is the topic where everyone immediately realizes the stupidity / corruption of economists

 

#DearIdiots#LearnEcon#Distribution

The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. Thus, #PrivateFinancialWealth grows in lockstep with #PublicDebt. #WeThePeople owes the #Debt, #Oligarchy owns the #FinancialAssets, ie. the interest #CashCow. pic.twitter.com/jVUHAxULZg

— E.K-H (@AXECorg) July 28, 2022

Occasional Tweets: Economics neither progresses in a linear nor cork-screw fashion ― it circles in the drain

 

#Economics

The history of economic thought is the history of scientific failure. #Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false and materially/formally inconsistent. The notion of #EconomicSciences was never more than a propaganda hoax. pic.twitter.com/KN56xY472X

— E.K-H (@AXECorg) July 28, 2022

OccasionalTweets: Economics is not fun but proto-scientific garbage

 

#FailedScience#FakeScience

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

The profit theory is false since Adam Smithhttps://t.co/s3zlXjwArK#Profit is the foundational concept of #Economics, so all the rest of the analytical superstructure is false.

— E.K-H (@AXECorg) July 27, 2022

For details of the big picture see cross-references Profit.

Occasional Tweets: How wars and crises are turned into macroeconomic profit

 

#LearnEconomics

The 3-sector #ProfitLaw Qm≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. Thus, the policy of #DeficitSpendingMoneyCreation ρE>1 is a #FreeLunch for the #Oligarchy.

Deficit cheerleaders ― the Oligarchy’s useful idiotshttps://t.co/XX5wLu3cSJ pic.twitter.com/oXa1gZHN1O

— E.K-H (@AXECorg) July 25, 2022

Related 'How to pay for the war and to be bamboozled by economists' 

Occasional Tweets: The sufficient reason to reject MMT is that its macrofoundations are provably false

 

#MMT#BadScienceBadPolicyBadPeople

The MMT fraud in slow motion, so that even economists can get ithttps://t.co/OjXtDpiX7r pic.twitter.com/B7OVH8i6mr

— E.K-H (@AXECorg) July 24, 2022

For details of the big picture see cross-references MMT. 

Occasional Tweets: Economics at the end of the scientifically lost ages

 

#Economics#FailedScience#Fakescience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false & materially/formally inconsistent. Economics is scientifically worthless. #Economists are NOT #Scientists but #Clowns in the political #CircusMaximus. pic.twitter.com/p68h4x0BdZ

— E.K-H (@AXECorg) July 24, 2022

For details of the big picture see cross-references Proto-Science/Cargo Cult Science/Fake Science. 

Occasional Tweets: Don't worry about Democracy, it is long gone

 

The current political system is an #Oligarchy. Congress/Treasury/Fed are an integral part of it. The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation (=growing public debt) secures the self-alimentation with #Profit. pic.twitter.com/bA0jbK1rVs

— E.K-H (@AXECorg) July 24, 2022

Occasional Tweets: In economics, identifiying charlatans and fools is the easy part

 

#Economics#FailedScience#FakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false and materially/formally inconsistent. #Economics is NOT #Science but a #DisInfoTainment #ShitShow. Identifying “charlatans and fools” is the easy part. pic.twitter.com/9hyg4ED80c

— E.K-H (@AXECorg) July 23, 2022

Related 'The GDP-death-blow for the economics profession'.

 

Occasional Tweets: The futile attempt to recycle Adam Smith (V)

 

#Economics#FailedScience#FakeScience#NoFalseHeroMemorials

The “single wise man” is a figure created by storytellers/moviemakers/propagandists. There are #Scientists with #Knowledge and #Morons with #Opinions. Adam Smith was one of the latter. ⇒https://t.co/s3zlXjwArK pic.twitter.com/tIx66CBjX1

— E.K-H (@AXECorg) July 23, 2022

Occasional Tweets: The reset of economics

 

#Economics#FailedScience#FakeScience#Reset

From false microfoundations to true macrofoundations (II)https://t.co/tEZlmxn31j pic.twitter.com/0DZqlSTzaR

— E.K-H (@AXECorg) July 23, 2022

Occasional Tweets: Economists have no idea about the relationship between inflation and employment

 

#LearnEconomics#Employment

The axiomatically correct #Macroeconomic #EmploymentLaw tells one that #Employment L decreases if #PriceInflation P is higher than #WageRateInflation W. There is NO #Tradeoff between “unemployment” and “inflation”. pic.twitter.com/gu7W4zAV2i

— E.K-H (@AXECorg) July 22, 2022

For details of the big picture see cross-references Employment/Phillips Curve. 

 

Occasional Tweets: The futile attempt to recycle the Classics

 

#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and #MMT are axiomatically false and materially/formally inconsistent. Since the “classics” (Mandeville, Buchanan, Hume), #Economics is scientifically worthless.

The myth of economics knowledgehttps://t.co/AvndKqGl6L pic.twitter.com/zNQgVMTd3O

— E.K-H (@AXECorg) July 21, 2022

Occasional Tweets: After all, Keynesians were never anything but stupid/corrupt political agenda pushers

 

#Economics#FailedScience#FakeScience#EconomicWarfare#Economists#StupidOrCorruptOrBoth

“Also doch” more Gustav A. Horn BS.

Note: The difference between RUS/Putin and “the West” is that Russia respects contracts and promises while “the West” does not.https://t.co/sdl1VVqH0R

— E.K-H (@AXECorg) July 21, 2022

For details of the big picture see cross-references Keynesianism.

Occasional Tweets: The so-called free market economy is on the state ventilator

 

The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. Thus, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Growing #PublicDebt is the lifeblood of the so-called #MarketEconomy which is artificially kept alive by #Treasury / #Fed. pic.twitter.com/4tNxNhcaGs

— E.K-H (@AXECorg) July 18, 2022

The answer to the existential question of economics whether the "existing economic system is, in any significant sense, self-adjusting" (Keynes) is NO. For details see 'What Keynes really meant but could not really prove'. 

Occasional Tweets: The rationality of deficit spending

 

#LearnEconomics

The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. Thus, the policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy.

Deficit cheerleaders ― the Oligarchy’s useful idiotshttps://t.co/XX5wLu3cSJ pic.twitter.com/nkVNykjpDr

— E.K-H (@AXECorg) July 18, 2022

Occasional Tweets: Economics ― "It's not even wrong."

 

#FailedScience#FakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and #MMT are axiomatically false and materially/formally inconsistent. #Economists are too stupid for #Science. The Pauli verdict “It's not even wrong” applies to ALL of #Economics. pic.twitter.com/xHYUDJQHH6

— E.K-H (@AXECorg) July 17, 2022

The Pauli quote reads "That's not right. That's not even wrong." and "If speculative ideas can not be tested, they're not science; they don't even rise to the level of being wrong." 

For details of the big picture see cross-references Proto-Science/Cargo Cult Science/Fake Science. 

Occasional Tweets: The representative economist is not a scientist but an agenda-pusher (I)

 

#Economics#FailedScience#FakeScience#EconomicWarfare#WarMongering#Economists don't know how the #Economy works but Veronika Grimm claims to know that Moscow is planning further wars. Obviously, she is NOT doing #Science but political #AgendaPushing.https://t.co/3ORNHRO62P

— E.K-H (@AXECorg) July 17, 2022

For details of the big picture see cross-references Political Economics/Stupidity/Corruption. 

Occasional Tweets: Paul Krugman and MMT― a clash of imbeciles

 

#MMT#BadScienceBadPolicyBadPeople

MMT is refuted on all counts, see cross-referenceshttps://t.co/9Rldtrerkr

MMT is a scientific and political fraud but Paul Krugman didn't figure it out to this day because he is too stupid for #Science. pic.twitter.com/YiS63yKdZ4

— E.K-H (@AXECorg) July 16, 2022

Related 'Krugman vs MMT ― like the blind talking about colors' and 'Paul’s and Stephanie’s economic delirium talk'.

Occasional Tweets: To this day, economists have no idea how Capitalism works

 

#LearnEconomics#AggregateDemand#Markup#Profit

To explain #Profit by #MarkupPricing is a #FallacyOfComposition. See p. 17 in

The Emergence of Profit and Interest in the Monetary Circuithttps://t.co/DFoSENx0hW

and

Say's Law: A Rigorous Restatementhttps://t.co/roynrClfyk

— E.K-H (@AXECorg) July 16, 2022

OccasionalTweets: Economists ― confused confusers from the very beginning

 

#Econ#FakeScience#DisInfotainment#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false and materially/formally inconsistent. #Economics is scientifically worthless. #Economists are NOT #Scientists but #Clowns in the political #CircusMaximus. pic.twitter.com/FMwmhcjqi9

— E.K-H (@AXECorg) July 16, 2022

Related 'Confused Confusers: How to Stop Thinking Like an Economist and Start Thinking Like a Scientist' 

Occasional Tweets: Economics and the promotion of fake science with false-hero memorials

 

#Economics#FailedScience#FakeScience

The history of economic thought is the history of scientific failure. #Economists are NOT #Scientists but #AgendaPushers in the political #CircusMaximus ― e.g. Hayek and his current promoters. ⇒https://t.co/MGOJWiafl1 pic.twitter.com/8HLLCa0P1J

— E.K-H (@AXECorg) July 16, 2022

Occasional Tweets: Economists are not scientists but preachers, moralizers, and agenda pushers

 

#Econ#FailedScience#FakeScience#Economics is NOT #Science. #Economists are NOT #Scientists. Since Adam Smith, they are #Preachers & #Moralizers. With Jens Südekum's #GasReminder, however, Kindergarten Pedagogic has reached a new low. pic.twitter.com/1Dw6PmgQUs

— E.K-H (@AXECorg) July 13, 2022

Occasional Tweets: Economics is not part of science but of the entertainment industry

 

#Econ#DisInfoTainment

The history of economic thought is the history of scientific failure. #Economics is NOT #Science, #Economists are NOT #Scientists but #Clowns in the political #CircusMaximus. For example

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

— E.K-H (@AXECorg) July 13, 2022

For details of the big picture see cross-references Failed/Fake Scientists. 

Occasional Tweets: Historians of economic thought consciously or unconsciously conceal the scientific failure of economics

 

#LearnEconomics#Profit

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

Mad but true: 200+ years after Adam Smith [and 80+ years after Keynes] economists still have no idea what profit ishttps://t.co/j7GUTzzeIW pic.twitter.com/pxV7gz4Vig

— E.K-H (@AXECorg) July 12, 2022

Occasional Tweets: The representative economist is not a brilliant scientist but a corrupt political agenda pusher

 

Time to realize that #Economics is not ― and NEVER has been ― about #Science / #Truth / #Knowledge. It's about political #AgendaPushing. Or, to paraphrase Buchanan

Economists: “a bevy of camp-following whores”https://t.co/tBQHMtyKpv pic.twitter.com/6wfcwE9Mpj

— E.K-H (@AXECorg) July 12, 2022

#Economics

Since J. S. Mill, who worked for the East India Company, many #Economists have directly/indirectly been on the payroll of the #Oligarchy. Economics is #FailedScience / #FakeScience. Too many economists are #UsefulIdiots / #Clowns in the political #CircusMaximus.

— E.K-H (@AXECorg) July 12, 2022

Occasional Tweets: There is no scientific progress in economics ― new thinkers are just old agenda pushers

 

#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false and materially/formally inconsistent. #Economists are too stupid for #Science. Their policy guidance NEVER has had sound scientific foundations. Self-styled #NewThinkers are old #AgendaPushers. pic.twitter.com/syEsdb9A24

— E.K-H (@AXECorg) July 12, 2022

For more about New Economic Thinking see AXECquery. 

Occasional Tweets: The futile attempt to recycle MMT (VI)

 

#LearnEconomics

The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. Thus, the #MMT policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy.

Deficit cheerleaders ― the Oligarchy’s useful idiotshttps://t.co/XX5wLu3cSJ pic.twitter.com/uz9WtM9Cjh

— E.K-H (@AXECorg) July 10, 2022

Occasional Tweets: In economics, there are no scientific heroes

 

#Economics

The history of economic thought is the history of scientific failure. #Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and #MMT are axiomatically false and materially/formally inconsistent. #Economics is scientifically worthless.#NoFalseHeroMonuments

— E.K-H (@AXECorg) July 10, 2022

For details of the big picture see cross-references Scientific Incompetence. 

 

Occasional Tweets: The futile attempt to recycle MMT (V)

 

#MMT

The page where Stephanie Kelton gets macroeconomics wrong https://t.co/CNFDkXM1Ki

The Kelton Fraudhttps://t.co/BN9izLduPa

MMT is refuted on all counts, cross-referenceshttps://t.co/9Rldtrw2J1

S.Kelton is academic fraud. MMT is a political fraud.

— E.K-H (@AXECorg) July 10, 2022

For details of the big picture see cross-references MMT. 

Occasional Tweets: The whole of economics has no evidence behind it

 

#Econ#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false and materially/formally inconsistent. The whole of #Economics has NO evidence behind it. #Economists are NOT #Scientists. Their policy guidance NEVER has had sound scientific foundations. pic.twitter.com/yBrF5SXGmT

— E.K-H (@AXECorg) July 9, 2022

Occasional Tweets: Economists ― scientists or sales reps for the Oligarchy?

 

#LearnEconomics#MMT

The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. Thus, the policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy.

Deficit cheerleaders ― the Oligarchy’s useful idiotshttps://t.co/XX5wLu3cSJ pic.twitter.com/izISQWGoSi

— E.K-H (@AXECorg) July 9, 2022

Occasional Tweets: The futile attempt to recycle Marx (II)

 

#Economics#FailedScience#FakeScience#Economists#StupidOrCorruptOrBoth

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

Dear idiots, Marx got profit and exploitation wronghttps://t.co/0kj2UV8UXT

— E.K-H (@AXECorg) July 8, 2022

Occasional Tweets: Time to get the axioms of economics right (I)

 

#Economics#FailedScience#FakeScience#ParadigmShift#MacroFoundations

It is obvious that the axioms of revealed preference are proto-scientific garbage. So, NOT to test them but replacing them is the right thing to do.

Toward the true economic axiomshttps://t.co/dxcMfC4ZJp pic.twitter.com/e4nuOUbcDp

— E.K-H (@AXECorg) July 8, 2022

Occasional Tweets: Economics ― the expansion of the scientific vacuum through empty chatter

 

#Economics#FailedScience#FakeScience#DisInfoTainment

“Economics is the study of the economy, not the study of economists.” (Ricardo Reis)

What makes Peter Boettke think that his personality BS interests anyone? And why does George Mason University tolerate this abuse? pic.twitter.com/GL8PiecKQb

— E.K-H (@AXECorg) July 7, 2022

Occasional Tweets: Sectoral balances ― MMTers don't get it to this day

 

#Economics#MMT#FailedScience#FakeScience#Economists#StupidOrCorruptOrBoth

The MMT sectoral balances equation is provably false.

MMTers: too stupid for simple mathhttps://t.co/7qhGPGhHPW pic.twitter.com/kiYHQ26x6S

— E.K-H (@AXECorg) July 7, 2022

Occasional Tweets: Supply-demand-equilibrium ― the call for mathematical and visual alternatives

 

#Economics#FailedScience#FakeScience

There is NO such thing as supply-demand-equilibriumhttps://t.co/187XlJsNrO#Reset#ParadigmShift#NewParadigm#Macrofoundations

— E.K-H (@AXECorg) July 5, 2022

***

Supply and Demand

• Econ 101: Supply-Demand-Equilibrium is dead for 150+ years
• Econ 101: Economists flunk the intelligence test at the first hurdle
• The monstrous utility-supply-demand-equilibrium failure
• Supply-demand-equilibrium ― employment theory as an example of proto-scientific soap bubbling
• There is NO such thing as supply-demand-equilibrium
• Why you should NEVER use supply-demand-equilibrium
• Bang — the representative economist and supply-demand-equilibrium are dead
• The Law of Supply and Demand: here it is finally
• How to Get Rid of Supply-Demand-Equilibrium
• Primary and Secondary Markets
• The logical interface between objective macrofoundations and subjective valuations

Occasional Tweets: Japan on the ventilator ― the relationship of growing public debt and macroeconomic profit

 

The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. Thus, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Growing #PublicDebt is the life elixir of the so-called free-market economy. Japan has been the #1 user. pic.twitter.com/QDR0bhoSa7

— E.K-H (@AXECorg) July 5, 2022

Occasional Tweets: Economics is not art but proto-scientific garbage

 

#FailedScience#FakeSciences#Economists#StupidOrCorruptOrBoth#Economics is NOT art but proto-scientific garbage.

Walrasian micro and Keynesian macro need to be flushed awayhttps://t.co/pFbUDX1LAN pic.twitter.com/fqnXJs9xpZ

— E.K-H (@AXECorg) July 5, 2022

Occasional Tweets: The futile attempt to recycle MMT (IV)

 

The #MMT core math model from 1996, Oeconomicus p. 131, is false. The #Balance of the business sector, i.e. #Profit Q is missing. The correct equation reads Q≡(G−T)+(I−S)+Yd.

See alsohttps://t.co/UatINJt5ndhttps://t.co/cr22ZpQ8H6https://t.co/dXissUNbC4

— E.K-H (@AXECorg) July 4, 2022

Occasional Tweets: To this day, economists lack the true theory

 

#Economics#FailedScience#FakeScience#Economists#ScientificIncompetence

Econogenics: economists pose a hazard to their fellow citizenshttps://t.co/SyFCKMbDmx

Economists are a menace to their fellow citizenshttps://t.co/R1sSoyPpcq pic.twitter.com/FvrvvXtNrG

— E.K-H (@AXECorg) July 4, 2022

For more about econogenics see AXECquery. 

Occasional Tweets: Economists have no idea of the Profit Law

 

#FailedScience#FakeScience

For 200+ years, #Economists have had no idea what #Profit is. #Econ is scientifically worthless. Economists are NOT #Scientists but #Clowns in the political #CircusMaximus.

Profit Law: The most powerful formula of economicshttps://t.co/lnw6QFadOE pic.twitter.com/C8MU5KeSAo

— E.K-H (@AXECorg) July 3, 2022

For more about profit see AXECquery. 

Occasional Tweets: Economics is faux science ― the real problem with the EconNobel

 

#FailedScience#FakeScience#Economics is not #Science. #Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and #MMT are mutually contradictory, axiomatically false, and materially/formally inconsistent.

The real problem with the economics Nobelhttps://t.co/kCwE4nptUQ pic.twitter.com/XxEvOxxrjE

— E.K-H (@AXECorg) July 2, 2022

For details of the big picture see cross-references Proto-Science/Cargo Cult Science/Fake Science. 

Occasional Tweets: Income is a flow and profit is a balance ― economists don't get it to this day

 

#Economics#FailedScience#FakeScience#Profit is NOT #Income → income is a #Flow and profit is a #Balance. #Economists are too stupid for the simple #Algebra of #MacroAccounting.

The GDP-death-blow for the economics professionhttps://t.co/QJycQUh0Uj pic.twitter.com/WDanjdlAd8

— E.K-H (@AXECorg) July 2, 2022

For details of the big picture see cross-references Profit/Distribution. 

Occasional Tweets: Economists’ eternal problem with methodology (I)

 

#Economics#FailedScience#FakeScience#Economists#StupidOrCorruptOrBoth

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

Economists’ eternal problem with methodologyhttps://t.co/luP7qmDfqr pic.twitter.com/InK8t7hg2e

— E.K-H (@AXECorg) July 1, 2022

Occasional Tweets: Economic policy guidance has never had sound scientific foundations (V)

 

#Economics

The history of economic thought is the history of scientific failure. #Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false and materially/formally inconsistent. Economic policy guidance NEVER has had sound scientific foundations. pic.twitter.com/xCbFGEyObq

— E.K-H (@AXECorg) July 1, 2022