For 200+ ys, #Economics is #FailedFakeScience bc #Economists are NOT #Scientists but #AgendaPushers / #UsefulIdiots / #Clowns in the political #CircusMaximus, that is, they violate the existential principle of the #SeparationOfScienceAndPolitics and thus corrupt #Science. pic.twitter.com/HeiZbuyS2V
— E.K-H (@AXECorg) November 30, 2022
November 30, 2022
Occasional Tweets: Trust the science ― but keep in mind that economics is not a science
Occasional Tweets: How to pay for the war (II)
#Econ#EconomicWarfare#HowToPay
— E.K-H (@AXECorg) November 30, 2022
GER/EUR is via NATO at war with RUS. In order to pay for the war, GOVs usually increase #Inflation, #Levies/#Taxes, #PublicDebt. In real terms, #WeThePeople bears ALL the costs. The general #Impoverishment hits first those at the economic margin.
Occasional Tweets: Economics ― the failed/fake science that the Oligarchy traditionally prefers to fund
The scientific task of #Economists is to figure out how the #Economy works. The fact is that #Economics is #FailedFakeScience bc #Economists are NOT #Scientists but #AgendaPushers / #Clowns in the political #CircusMaximus who are traditionally funded by members of the #Oligarchy.
— E.K-H (@AXECorg) November 30, 2022
November 29, 2022
Occasional Tweets: How economists ended up on the wrong side of the science/politics divide
#Econ
— E.K-H (@AXECorg) November 29, 2022
For 200+ ys, #Economics is #FailedFakeScience bc #Economists are NOT #Scientists but #AgendaPushers / #UsefulIdiots / #Clowns in the political #CircusMaximus, that is, they violate the existential principle of the #SeparationOfScienceAndPolitics and thus corrupt #Science. pic.twitter.com/7UC521n9tq
For details of the big picture see cross-references Political Economics/Stupidity/Corruption.
November 28, 2022
Occasional Tweets: The futile attempt to recycle Adam Smith (XII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 28, 2022
Adam Smith NEVER understood what #Profit is and how the economic #System works. He was NOT a #Scientist but a political #AgendaPusher.
The profit theory is false since Adam Smithhttps://t.co/s3zlXjx8hi#NoFalseHeroMemorials pic.twitter.com/tsQuZsnyHr
November 27, 2022
Occasional Tweets: The futile attempt to recycle Hayek (IV)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) November 27, 2022
Most academic #Economists are NOT #Scientists but #AgendaPushers / #UsefulIdiots / #Clowns in the political #CircusMaximus.
Austrian idiocy ― the case of Hayekhttps://t.co/qa0Sk3ikWT
For details of the big picture see cross-references Scientific Incompetence.
Occasional Tweets: Economists never served the common good because economics it is failed/fake science
#Economics#FailedFakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false & materially/formally inconsistent. Economic policy guidance NEVER has had sound scientific foundations. #Economists are a hazard to their fellow citizens. pic.twitter.com/Sw1i7274Tx
— E.K-H (@AXECorg) November 27, 2022
For details of the big picture see cross-references Scientific Incompetence.
November 26, 2022
Occasional Tweets: Most economist are not scientists but political agenda pushers
#Econ#FailedFakeScience#Economics is about how the #Economy works. It is a #SystemsScience and NOT about #HumanNature / #Motives / #Behavior / #Actionhttps://t.co/MzGiF9gpXa#Economists, though, are NOT #Scientists but #AgendaPushers / #Clowns in the political #CircusMaximus pic.twitter.com/6MtgIN7M4h
— E.K-H (@AXECorg) November 26, 2022
November 25, 2022
Occasional Tweets: eMoney ― the false start
With a view to the #CBDC future, the #BlackEconomy needs an ANONYMOUS #MediumOfExchange. Like #Cash, #Crypto avoids the transparency of #eMoney. The volume of Crypto is a metric for the private/public #Corruption of a country.
— E.K-H (@AXECorg) November 25, 2022
Occasional Tweets: Economics and math ― they just can't get it together (I)
#Econ
— E.K-H (@AXECorg) November 25, 2022
Bc they are too stupid for elementary #Algebra, #Economists get the foundational concepts of their subject matter ― #Profit & #Income ― wrong. Bc of this, #Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT is scientifically worthless. ⇒https://t.co/rHPw6YnEGe
For details of the big picture see cross-references Math/Mathiness.
Occasional Tweets: Economics, Christmas, Love ― psycho-social garbage since the founding fathers
#Econ#FailedFakeScience#Economics is about how the #Economy works. It is a #SystemsScience and NOT about #HumanNature / #Motives / #Behavior / #Action:https://t.co/MzGiF8YOyA
— E.K-H (@AXECorg) November 25, 2022
Therefore, economics applied to topics like #Christmas & #Love is just proto-scientific garbage. pic.twitter.com/CsVi7Dgk9a
For details of the big picture see cross-references Not a Science of Behavior.
November 24, 2022
Occasional Tweets: Economists are fake scientists and incorrigible agenda pushers
#Econ#Economics is #FailedFakeScience. To this day, #Economists have not figured out what #Profit is and how the economic #System works bc they are too incompetent for #Science and too busy with #AgendaPushing, #Propaganda, and #WarMongering. pic.twitter.com/QZ8R3iQdGc
— E.K-H (@AXECorg) November 24, 2022
Occasional Tweets: The stuff that MMT got wrong
#MMT
— E.K-H (@AXECorg) November 24, 2022
The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, the MMT policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy.
The page where Stephanie Kelton gets macroeconomics wrong https://t.co/CNFDkXM1Ki pic.twitter.com/A76Exf8RLh
For details of the big picture see cross-references MMT.
November 21, 2022
Occasional Tweets: Beginner's mistake in the cost-benefit analysis
#War#EconomicWarfare#Bargain
— E.K-H (@AXECorg) November 21, 2022
We all remember: 'Let's build a wall and make Mexico pay for it.' Same thing now: 'Let's bring down RUS and make UKR/GER/EUR pay for it.' Needless to emphasize that EURs human/economic #Destruction does NOT go into the US #CostBenefitAnalysis.
Occasional Tweets: If you cannot explain how money works, you're not a good economist
#Econ
— E.K-H (@AXECorg) November 21, 2022
“If you're an economist and you cannot explain how money works, you're not a good economist.”
Money and debt in six elementary stepshttps://t.co/jConNaRInx
The creation and value of money and near-monieshttps://t.co/vZflD86Pfv
Money and timehttps://t.co/Yaj3dKxlgR
Occasional Tweets: Economics ― weaponizing the curriculum of a failed/fake science
#Economics#FailedFakeScience#Curriculum
— E.K-H (@AXECorg) November 21, 2022
Most academic #Economists are NOT #Scientists but #AgendaPushers / #UsefulIdiots / #Clowns in the political #CircusMaximus.
RethinkEcon is an #EconBlocker.#EconBlockers violate the Code of Professional Conduct.https://t.co/5j0Nl9pyUC pic.twitter.com/JINbCRSAk1
For more about the curriculum see AXECquery.
November 20, 2022
Occasional Tweets: The futile attempt to recycle Austrianism (XI)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 20, 2022
The history of economic thought is the history of scientific failure. #Austrianism is NO exception.
Austrians, too, are either stupid or corrupt or bothhttps://t.co/TNGWeyNj1w
November 19, 2022
Occasional Tweets: Thinking is not a matter for economists to this day
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 19, 2022
The history of economic thought is the history of scientific failure. Keynes messed up #MacroFoundations 80+ ys ago because he was too stupid for elementary #Algebra. #Thinking is not a matter for #Economists to this day. pic.twitter.com/9jvGl1HRob
For more about thinking see AXECquery.
Occasional Tweets: If you understand profit, you understand how the economy works
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 19, 2022
'If I could only teach ONE economic concept to a student, it would be #Profit. If you understand profit, you understand how the #Economy works.'
The fact is that #ProfitTheory has been false since Adam Smith. pic.twitter.com/2QGMBwVuZE
For more about profit see AXECquery.
Occasional Tweets: Economists are not scientists but opinion makers
#Economics
— E.K-H (@AXECorg) November 19, 2022
For 200+ ys, #Economists do not get the foundational concepts #Profit /#Income right bc most of them are NOT #Scientists but #AgendaPushers / #Clowns in the political #CircusMaximus.
The economist as amateur journalisthttps://t.co/JTSn95sjht
For details of the big picture see cross-references Failed/Fake Scientists and cross-references Distorted Reality.
November 18, 2022
Occasional Tweets: How the superrich are getting richer
The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, the policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. #PrivateFinancialWealth grows in lockstep with #PublicDebt which then becomes the permanent interest #CashCow. pic.twitter.com/pMyeOxoaUK
— E.K-H (@AXECorg) November 18, 2022
For details of the big picture see cross-references Profit/Distribution.
Occasional Tweets: Marxianism is failed/fake science but so is Austrianism
#Marxianism is #FailedFakeScience but so is Peter Boettke's #Austrianism. #Economists are NOT #Scientists but #AgendaPushers / #UsefulIdiots / #Clowns in the political #CircusMaximus.
— E.K-H (@AXECorg) November 18, 2022
Why economics is a failed science ― 24 excuses and 1 explanationhttps://t.co/DyazfILAmO pic.twitter.com/eqJxwFnA79
Occasional Tweets: The futile attempt to recycle Marx (VIII)
Marx was neither an #Economist nor a #Philosopher. He was a #Pamphleteer / #AgendaPusher / #UsefulIdiot / #Clown in the political #CircusMaximus. Bc he got #Profit wrong, the whole analytical superstructure of #Marxianism is scientifically worthless. ⇒https://t.co/GYsllSZfdn pic.twitter.com/OtRyJDJcKo
— E.K-H (@AXECorg) November 18, 2022
November 17, 2022
Occasional Tweets: The futile attempt to recycle Marx (VII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 17, 2022
“Marx was not in the business of applying for a job at the University of Cambridge, or writing refereed papers.” No, he was a #Regierungsagent/#GovernmentAgent.
The problem with economics as a disciplinehttps://t.co/FFSyI97CI1 pic.twitter.com/0PpajALv8B
Occasional Tweets: The futile attempt to recycle Marx (VI)
The history of economic thought is the history of scientific failure. #Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false & materially/formally inconsistent. Economic policy guidance NEVER has had sound scientific foundations. pic.twitter.com/UkKg9umAng
— E.K-H (@AXECorg) November 17, 2022
Occasional Tweets: How many academic economists are members of the crypto sales force?
#Econ#FailedFakeScience
— E.K-H (@AXECorg) November 17, 2022
Waiting for the academic #Economists to come forward for self-incrimination of why they joined the #Crypto sales force. Reminder “the decentralization of money offered by bitcoin has its theoretical roots in The Denationalisation of Money” (Wikipedia) pic.twitter.com/oS6yviJKNR
***
Twitter Jun 30, 2022
November 16, 2022
Occasional Tweets: The dirty secret of Capitalism
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) November 16, 2022
The dirty secret of Capitalism: Capitalists have NO idea how the economy workshttps://t.co/jlB1gDWEEy
November 15, 2022
Occasional Tweets: Macrofoundations replace Microfoundations
#LearnEconomics
— E.K-H (@AXECorg) November 15, 2022
The axiomatically correct elementary macroeconomic #LawOfSupplyAndDemand tells one exactly how the #Price is determined under the conditions of #MarketClearing and #BudgetBalancing. The chart below replaces the silly SS-DD-EQ Totem-of-the-Micro. pic.twitter.com/kqHiIKJokd
November 14, 2022
Occasional Tweets: The "greatness of economists" is just silly self-hype of failed scientists
#FailedFakeScience
— E.K-H (@AXECorg) November 14, 2022
The #Greatness of #Economists is a media construct. #Walrasianism, #Keynesiansm, #Marxianism, #Austrianism, #MMT are mutually contradictory, axiomatically false, materially/formally inconsistent. Time to bury all fake scientists at the Flat-Earth Cemetery. pic.twitter.com/Tv8nVbjowE
For details of the big picture see cross-references Failed/Fake Scientists.
For more about the master economist see AXECquery.
Occasional Tweets: How cargo cult science works
“It is self-evident that popularity of any writer is related to the perceived relevance of his work at a given point in time.”
— E.K-H (@AXECorg) November 14, 2022
The popularity of any writer is related to money spent on marketing, PR, prizes, recommendations, testimonials, & the troll army of likers/followers. pic.twitter.com/QWhRQuYNlK
Occasional Tweets: It is impossible to overestimate the stupidity/corruption of economists
The scientific task of #Economists is to figure out how the #Economy works and NOT to push #Liberalism. The fact is that #Economics is #FailedFakeScience. #Economists are NOT #Scientists but political #AgendaPushers / #UsefulIdiots / #Clowns in the political #CircusMaximus. pic.twitter.com/LJDBWlSduU
— E.K-H (@AXECorg) November 14, 2022
For details of the big picture see cross-references Political Economics/Stupidity/Corruption
Occasional Tweets: The futile attempt to recycle Marx (V)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 14, 2022
The history of economic thought is the history of scientific failure.
200 years in the dark ― how Marx got it wronghttps://t.co/nkPL28Vr79
Marx’s bicentennial ― nothing to discuss, nothing to celebratehttps://t.co/UrM6onPcLn
November 11, 2022
Occasional Tweets: Mill's reminder ― economics as a science has no political mandate
• #Economics is about how the economic #System works
— E.K-H (@AXECorg) November 11, 2022
• Economics understood as #Science has NO political mandate
• #Econ is #FailedScience because #Economists get #MacroFoundations/#Profit wrong.
• Economists are NOT #Scientists but #Clowns in the political #CircusMaximus. pic.twitter.com/Yeb7oSJHVw
November 10, 2022
Occasional Tweets: Economic policy guidance has never had sound scientific foundations (VII)
#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false & materially/formally inconsistent. Economic policy guidance NEVER has had sound scientific foundations. #Economists are NOT #Scientists but #UsefulIdiots/#Clowns in the political #CircusMaximus pic.twitter.com/z0BBnoHX3k
— E.K-H (@AXECorg) November 10, 2022
Occasional Tweets: Economics is not between science and ideology, it is pure proto-scientific garbage
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 10, 2022
“If one takes seriously what Popper says about falsifiability and the critical attitude, then the methodological practice of economics is not only mistaken, it is stupid and intellectually reprehensible.” (Hausman, 1992, p. 275) pic.twitter.com/QpwVROTCaL
Occasional Tweets: The futile attempt to recycle the Phillips Curve (II)
#Econ#FailedFakeScience
— E.K-H (@AXECorg) November 10, 2022
The so-called #PhillipsCurve is dead since 1960.
NAIRU, wage-led growth, and Samuelson's Dyscalculiahttps://t.co/qDrdo8YO66
Keynes’ Employment Function and the Gratuitous Phillips Curve Disasterhttps://t.co/fYComR94yt
Queryhttps://t.co/O9Adryfkz0
***
Wikimedia AXEC121i
November 9, 2022
Occasional Tweets: The futile attempt to recycle Adam Smith (XI)
#Econ#FailedFakeScience
— E.K-H (@AXECorg) November 9, 2022
To waive the flag of #Liberty is NOT #Economics and NOT #Science. Since Adam Smith, #Economists do not know how the #Economy works. They are #AgendaPushers / #UsefulIdiots / #Clowns in the political #CircusMaximus. pic.twitter.com/WWsZWXeyP0
Occasional Tweets: Macroeconomics is not "in its infancy" but provably false
#Econ#FailedFakeScience
— E.K-H (@AXECorg) November 8, 2022
The history of economic thought is the history of scientific failure. Keynes messed up #MacroFoundations 80+ ys ago because he was too stupid for elementary #Algebra. #Economists have not realized that. Ed Prescott was one of them.#NoFalseHeroMemorials pic.twitter.com/ohYm1zB7ma
For details of the big picture see cross-references Axiomatization and cross-references Paradigm Shift.
For more about macrofoundations see AXECquery.
***
Wikimedia AXEC121i
November 8, 2022
Occasional Tweets: The growth of public debt is the life elixir of Capitalism (I)
#PublicDebt increases for 200+ ys. The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. #PrivateFinancialWealth grows with growing #PublicDebt which is the #LifeElixir of #Capitalism. pic.twitter.com/efkIpkrlFJ
— E.K-H (@AXECorg) November 8, 2022
Occasional Tweets: The abuse of obituaries for pushing proto-scientific garbage
#Econ#FailedFakeScience
— E.K-H (@AXECorg) November 8, 2022
The history of economic thought is the history of scientific failure. Keynes messed up #MacroFoundations 80+ ys ago because he was too stupid for elementary #Algebra. #Economists have not realized that. Ed Prescott was one of them.#NoFalseHeroMemorials pic.twitter.com/UtwJFemDTI
November 7, 2022
Occasional Tweets: Economics, Liberty and the political corruption of science
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth#Freedom/#Liberty is the decorative political flag over the coffin of the dead #Science. Most #Economists are NOT #Scientists but #AgendaPushers / #UsefulIdiots / #Clowns in the political #CircusMaximus. pic.twitter.com/An1xUCfQRW
— E.K-H (@AXECorg) November 7, 2022
For more about Mont Pelerin see AXECorg.
Occasional Tweets: Moral and the weaponization of everything
#FailedFakeScience
— E.K-H (@AXECorg) November 7, 2022
“when you adopt a stance of moral authority … people … choose to raise a middle finger”. This is bc people have realized that #Moral has been weaponized by political #AgendaPushers, e.g. Adam Smith.
Beware of the moralizing economisthttps://t.co/1Lah1qakTY
November 6, 2022
Occasional Tweets: Economics is not science, and never has been
#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false & materially/formally inconsistent. Economic policy guidance NEVER has had sound scientific foundations. #Economists are NOT #Scientists but #UsefulIdiots/#Clowns in the political #CircusMaximus pic.twitter.com/3xS7E0pWU6
— E.K-H (@AXECorg) November 6, 2022
November 3, 2022
Occasional Tweets: Economics ― not one textbook satisfies scientific standards
#FailedFakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT, and #Pluralism are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. Economic policy guidance NEVER has had sound scientific foundations. ⇒https://t.co/Gw6Qa1Dijg pic.twitter.com/BBYYqNIqZU
— E.K-H (@AXECorg) November 3, 2022
For more about textbooks see AXECquery.
Occasional Tweets: The futile attempt to recycle Adam Smith (X)
#FailedFakeScience
— E.K-H (@AXECorg) November 3, 2022
Adam Smith NEVER understood what #Profit is or how the economic #System works. But he understood that #Capitalism as an economic order was indefensible. So he wrapped the social monstrosity in the flag of #Liberty. Thus he made the indefensible unassailable.
Occasional Tweets: The futile attempt to recycle MMT (XIV)
#MMT#BadScienceBadPeople
— E.K-H (@AXECorg) November 3, 2022
The page where Stephanie Kelton gets macroeconomics wrong https://t.co/CNFDkXM1Ki
MMT is refuted on all countshttps://t.co/9Rldtrw2J1
MMT is academic and political fraud. pic.twitter.com/JoscSZmCap
November 2, 2022
Occasional Tweets: The futile attempt to recycle Austrianism (X)
#Economics cannot be based on a behavioral #Axiom. #Praxeology is methodologically unacceptable. Because the axiomatic foundations of #Austrianism are false the whole analytical superstructure is scientifically worthless.
— E.K-H (@AXECorg) November 2, 2022
Austrianism ― axiomatically falsehttps://t.co/luMh1CLitk pic.twitter.com/Fz4yzf4lRZ
Occasional Tweets: The futile attempt to recycle MMT (XIII)
#MMT
— E.K-H (@AXECorg) November 2, 2022
The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, #PrivateFinancialWealth grows in lockstep with #PublicDebt which is the interest #CashCow for the #Oligarchy and the #DebtBomb for #WeThePeople. ⇒https://t.co/gtHNBANDrN pic.twitter.com/E6ptmklepK
For details of the big picture see cross-references MMT.
Occasional Tweets: The futile attempt to recycle Hayek (III)
#FailedFakeScience
— E.K-H (@AXECorg) November 2, 2022
The history of economic thought is the history of scientific failure. #Hayek had no idea what #Profit is and how the #Economy works. He was NOT a #Scientist but an #AgendaPusher.
Hayek: mad, bad, or just another incompetent economist?https://t.co/2u1kl3igqF