Occasional Tweets: The foundational methodological blunder of economics (I)

 

#Econ#FailedFakeScience#Economics is about how the #Economy works. It is a #SystemsScience and NOT a #SocialScience i.e. NOT about #HumanNature / #Motives / #Behavior / #Choice / #Actions or #Incentives. For details see cross-referenceshttps://t.co/MzGiF9gpXa pic.twitter.com/v3S4ZYYrLQ

— E.K-H (@AXECorg) February 28, 2023

Occasional Tweets: For 200+ yrs, dumb economists do not get the elementary relationships between saving, profit, distributed profit, and retained profit right

 

The 2-sector #ProfitLaw Qm≡I−Sm+Yd says that lower saving of the household sector Sm means higher #Profit Qm for the business sector. Or, taking distributed profit Yd into account, lower #Saving means higher #RetainedProfit Qret≡Qm−Yd. Companies NEVER do any “saving for you”. pic.twitter.com/A1hWpt2laS

— E.K-H (@AXECorg) February 28, 2023

Occasional Tweets: The history of economic thought is the history of scientific failure (VI)

 

#FailedFakeScience

The history of economic thought is the history of scientific failure. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit ―the foundational concept of #Economics― wrong. Historians still have not figured that out. pic.twitter.com/VEG0fSiRue

— E.K-H (@AXECorg) February 27, 2023

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

Occasional Tweets: The futile attempt to recycle Austrianism (XII)

 

The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economists are NOT #Scientists but #AgendaPushers / #Clowns in the political #CircusMaximus. v. Mises, M. Rothbard et al. just fit the description.⇒https://t.co/nMch3B3pUZ pic.twitter.com/6BqGMLHrVf

— E.K-H (@AXECorg) February 26, 2023

Occasional Tweets: Freedom/Liberty ― how economists sell their proto-scientific garbage for 200+ years

 

#Economics#FailedFakeScience

Freedom is a political concept. #Economists who do not get tired of waving the flag of #Freedom/#Liberty are NOT #Scientists. They have NO idea how the #Economy works but are #AgendaPushers/#UsefulIdiots for the #Oligarchy.⇒https://t.co/CPW3M1JQYK pic.twitter.com/OfG1Nm9Mom

— E.K-H (@AXECorg) February 26, 2023

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

Occasional Tweets: Why economists are spreading their love for economics and thereby self-contradict their axiom of utility/profit maximisation

 

The #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, #PrivateFinancialWealth grows in lockstep with #PublicDebt which is the interest #CashCow of the #Oligarchy. By reshuffling the #Debt (buy high, sell low) and taking losses the BoE acts as #ProfitPump. pic.twitter.com/grvP1KqUFP

— E.K-H (@AXECorg) February 26, 2023

Occasional Tweets: Economics is not science but disinfotainment (VII)

 

The #EconNobel is NOT a recognition of genuine scientific merits ― there are none in #Economics ― but a reward for successful #AgendaPushing handed out by the Bank of Sweden on behalf of the #Oligarchy. See linkshttps://t.co/ExJf3VErgZ pic.twitter.com/DFkfZVGLF4

— E.K-H (@AXECorg) February 26, 2023

Occasional Tweets: Economics ― just disinfotainment and self-hype (II)

 

#FailedFakeScience#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. As a consequence, the whole of #MacroEconomics / #MicroEconomics is scientifically worthless.

Economics, philosophy, and the crapification of sciencehttps://t.co/DH0Mw4sQER

— E.K-H (@AXECorg) February 25, 2023

Occasional Tweets: What do economists know?

 

#Economics is #FailedFakeScience. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot / #Clown in the political #CircusMaximus. About how the #Economy works, they literally know nothing.

The philosophy of know-nothingershttps://t.co/LhSl6v75CF

— E.K-H (@AXECorg) February 25, 2023

Related 'Economics: the honeypot for know-nothingers'. 

Occasional Tweets: Economists are too stupid for macro accounting (III)

 

#Economics#FailedFakeScience#Economists are too stupid for the elementary #Algebra that underlies macroeconomic #Accounting. Because of this, the whole of economics is scientifically worthless.

A crash course in macro accountinghttps://t.co/ra68RI5GgM

— E.K-H (@AXECorg) February 25, 2023

Related 'Mad but true: 200+ years after Adam Smith economists still have no idea what profit is' 

Occasional Tweets: Inflation ― the Fed has no idea how the economic system works

 

#LearnEconomics#Employment#Price#Wage

The axiomatically correct macroeconomic #EmploymentLaw tells one that #Employment L decreases (#UnEmployment increases) if the product price P rises faster than the wage rate W. See cross-referenceshttps://t.co/gjD0JomQtf pic.twitter.com/uC6gnMulFI

— E.K-H (@AXECorg) February 24, 2023

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

 

#Economics#FailedFakeScience

The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot / #Clown in the political #CircusMaximus. pic.twitter.com/zSzXCFlOh6

— E.K-H (@AXECorg) February 24, 2023

Occasional Tweets: Economics is not science but disinfotainment (VI)

 

#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT, & #Pluralism are axiomatically false & materially/formally inconsistent. Economic policy guidance NEVER has had sound scientific foundations. #Economists are #AgendaPushers / #Clowns in the political #CircusMaximus. pic.twitter.com/LFTWxO7Lmx

— E.K-H (@AXECorg) February 24, 2023

Occasional Tweets: Economics is failed/fake science because economists still do not come to grips with the foundational concept of profit

 

#Economics#FailedFakeScience#Profit is NOT determined by the #ValueOfLaborPower but by the #ProfitLaw Q≡(G−T)+(I−S)+Yd (here for 3 sectors). In their utter scientific #Incompetence, #Economists get this wrong since the founding fathers. ⇒https://t.co/hSeR4jIdk5 pic.twitter.com/dHH6U9Cj9O

— E.K-H (@AXECorg) February 24, 2023

For more about profit see AXECquery. 

Occasional Tweets: True macrofoundations (III)

 

#Econ#Economics is #FailedFakeScience. The various #MicroFoundations approaches are axiomatically false. So are Keynesian #MacroFoundations. For the inescapable #ParadigmShift to the true set of macroeconomic #Axioms see cross-referenceshttps://t.co/rf8n0xkhRA pic.twitter.com/epCDTei0ym

— E.K-H (@AXECorg) February 23, 2023

Occasional Tweets: Menger ― co-father of economics blather

 

#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT, & #Pluralism are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. Menger, too, has always been scientifically worthless.

The unveiled mystery of economic blatherhttps://t.co/NJdRbOsxeG

— E.K-H (@AXECorg) February 23, 2023

Occasional Tweets: Economics is not science but disinfotainment (V)

 

#Economics#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong.

Confused Confusers: How to Stop Thinking Like an Economist and Start Thinking Like a Scientisthttps://t.co/TFBLLcMHx3 pic.twitter.com/wDIyolncu2

— E.K-H (@AXECorg) February 23, 2023

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

 

#Economics

The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot / #Clown in the political #CircusMaximu pic.twitter.com/4hO6RWqJLX

— E.K-H (@AXECorg) February 20, 2023

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

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

 

#Econ#Economics is #FailedFakeScience. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot / #Clown in the political #CircusMaximus.

Steve Keen & Tyrone Keynes are #EconBlockers.#EconBlockers violate the Code of Professional Conduct. pic.twitter.com/n6Tn14Yl1Y

— E.K-H (@AXECorg) February 20, 2023

For details of the big picture see cross-references The Representative Economist. 

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

 

#MMT#BadScienceBadPolicyBadPeople

The #MacroFoundations of #MMT and the #SectoralBalances equation are logically/mathematically defective. Because of this, the whole of MMT is scientifically worthless.

Refuting MMT’s Macroeconomics Textbookhttps://t.co/nIAJmF1Om7

— E.K-H (@AXECorg) February 20, 2023

Occasional Tweets: Time for economists to get the relationship between deficit, debt, and distribution right (I)

 

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 becomes their permanent interest #CashCow. pic.twitter.com/Lrv7S5AF6W

— E.K-H (@AXECorg) February 19, 2023

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

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

 

#Economics

The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economists are NOT #Scientists but #AgendaPushers / #Clowns in the political #CircusMaximus. Their policy guidance NEVER has had valid scientific foundations. pic.twitter.com/7FDTga8Pha

— E.K-H (@AXECorg) February 19, 2023

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

Occasional Tweets: After-Keynesians don't get it to this day

 

#Economics#FailedFakeScience#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. As a consequence, #Keynesianism is scientifically worthless. After-Keynesians don't get it to this day. pic.twitter.com/ScvOi1ibC9

— E.K-H (@AXECorg) February 18, 2023

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

Ocassional Tweets: How the macroeconomic self-alimentation in an oligarchic system works

 

The US political system is an #Oligarchy. Congress/Treasury/Fed/BigBusiness are integral parts of it. The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. The growth of #PublicDebt generates the #Profit/#Interest to keep the #System running. pic.twitter.com/Y1OA1pAlwW

— E.K-H (@AXECorg) February 18, 2023

Occasional Tweets: Clueless economists / Phillips Curve (III)

 

#FailedFakeScience

Bc of his scientific incompetence, Samuelson, et al. messed up the #PhillipsCurve.

NAIRU, wage-led growth, and Samuelson's Dyscalculiahttps://t.co/qDrdo8Hdey

Keynes’ Employment Function and the Gratuitous Phillips Curve Disasterhttps://t.co/fYComRqFX3

— E.K-H (@AXECorg) February 18, 2023

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

 

#MMT#BadScienceBadPolicyBadPeople

MMT's sectoral balances equation is provably false → macroeconomic #Profit is false → the whole analytical superstructure is scientifically worthless.

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

— E.K-H (@AXECorg) February 16, 2023

 

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

Occasional Tweets: To this day, economists don't get was science is

 

#Econ#FailedFakeScience

Scientific #Truth is defined by material AND formal #Consistency. #Economics fails on BOTH counts. #Economists are NOT #Scientists but #AgendaPushers / #Clowns in the political #CircusMaximus. Lars Syll is one of them.⇒https://t.co/xM9Qi15Jvs pic.twitter.com/Jx6qveT4Jy

— E.K-H (@AXECorg) February 16, 2023

 

For details of the big picture see cross-references Failed/Fake Scientists  and cross-references The Representative Economist. 

Occasional Tweets: What is the difference between science and a disinfotainment shitshow? Don't ask economists!

 

#Econ#FailedFakeScience#Economics claims to be #Science (→ #EconNobel) but it is pretty obvious that it is actually a #DisInfoTainment #ShitShow.

— E.K-H (@AXECorg) February 16, 2023

Occasional Tweets: In economics, science prizes are indeed a reward for political agenda-pushing

 

#WissenschaftsPreis

To this day, #Economists have not figured out how the #Economy works. #Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT are axiomatically false & materially/formally inconsistent. #Economics is scientifically worthless. pic.twitter.com/6EBPuqwMeC

— E.K-H (@AXECorg) February 14, 2023

Related 'The real problem with the economics Nobel' 

Occasional Tweets: Economists have lost the self-hype contest

 

#FailedFakeScience

“Years ago I heard Mr. Cobden say at a League Meeting that ‘Political Economy was the highest study of the human mind, for that the physical sciences required by no means so hard an effort.’” (Bagehot, 1885) ⇒https://t.co/AoRNYbOGDd

— E.K-H (@AXECorg) February 14, 2023

Occasional Tweets: The futile attempt to recycle Keynesianism (XII)

 

#FailedFakeScience#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. As a consequence, #Keynesianism is scientifically worthless.

Also, Isabella Weber & Dirk Ehnts are #EconBlockers which is a strong indicator of #ScientificIncompetence. pic.twitter.com/dkTZQF0hpW

— E.K-H (@AXECorg) February 13, 2023

Occasional Tweets: The monetary theory of public debt

 

The 3sec #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. #PrivateFinancialWealth grows with #PublicDebt. It holds #WeThePeopleOwesIt and #OligarchyOwnsIt. #Interest is taxed from #WeThePeople. pic.twitter.com/uG4BEuJCmX

— E.K-H (@AXECorg) February 13, 2023

For details of the big picture see cross-references Deficit/Debt. 

Occasional Tweets: Economists violate scientific ethics on a daily basis

 

#Economics claims to be #Science but #Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT, & #Pluralism are axiomatically false & materially/formally inconsistent. #Economists violate scientific #Ethics on a daily basis. ⇒https://t.co/xM9Qi15Jvs pic.twitter.com/UfhzlA4CI0

— E.K-H (@AXECorg) February 12, 2023

Occasional Tweets: The futile attempt to reycle supply-demand-equilibrium (II)

 

#Economics#FailedFakeScience

Artificial Intelligence does NOT outperform natural stupidity. For more about the axiomatically flawed concept of supply-demand-equilibrium see the queryhttps://t.co/ZrNA3UqYIw

— E.K-H (@AXECorg) February 12, 2023

Occasional Tweets: Keynes messed up macroeconomics but After-Keynesians have not noticed anything to this day

 

#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra.

As a consequence, the whole of #MacroEconomics is scientifically worthless. #AfterKeynesians NEVER got it.

Cross-Referenceshttps://t.co/TGTkAwX778 pic.twitter.com/h7BZdCWffq

— E.K-H (@AXECorg) February 12, 2023

Occasional Tweets: Should economists be held accountable for their advice?

 

#Economics#FailedFakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT, & #Pluralism are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. Economic policy guidance NEVER has had sound scientific foundations. pic.twitter.com/wpn9cXmclY

— E.K-H (@AXECorg) February 12, 2023

Occasional Tweets: No false-hero memorials (IX) ― the history of economic thought is the history of scientific failure

 

#Economics#FailedFakeScience

The historical default hypothesis is that #Journalists/#Intellectuals/#Economists & #BourgeoisieKids have NOT fought for the #Workers but tried to capture their grass-roots movements. Exceptions have to be proved. ⇒https://t.co/FFSyI974St pic.twitter.com/kzS3WQiBqF

— E.K-H (@AXECorg) February 12, 2023

* Title picture was taken from Amazon

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

Occasional Tweets: In economics, peer review has been weaponized (III)

 

#Economics#FailedFakeScience.

The major approaches are axiomatically false & materially/formally inconsistent. Therefore, the content of self-hyped top journals consists mainly of proto-scientific garbage that has been rubber-stamped by peer review. pic.twitter.com/PXhQiNkoWw

— E.K-H (@AXECorg) February 12, 2023

Occasional Tweets: Finally make the Paradigm Shift!

 

#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth

The history of economic thought is the history of scientific failure, so “Scrap the lot and start again” (Joan Robinson).

Why don’t you do what Joan Robinson told you to do?https://t.co/PYXQLqdqaS pic.twitter.com/tGzoOge9Uz

— E.K-H (@AXECorg) February 12, 2023

Occasional Tweets: The value of money and the worthlessness of economics

 

#LearnEconomics

The #ValueOfMoney is in the most elementary case determined by P=W/R.

The ultimate ― analytical ― origin of moneyhttps://t.co/TdYOJnxRIy

Money and timehttps://t.co/Yaj3dKxlgR

The objective value of moneyhttps://t.co/YSlX4QxyC1

— E.K-H (@AXECorg) February 11, 2023

Occasional Tweets: Economic policy guidance still has no sound scientific foundations (XI)

 

#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT, & #Pluralism are axiomatically false & materially/formally inconsistent. Economic policy guidance NEVER has had sound scientific foundations. #Economists are #AgendaPushers / #Clowns in the political #CircusMaximus. pic.twitter.com/8nPaPFOshH

— E.K-H (@AXECorg) February 10, 2023

Occasional Tweets: The Bank of England has no idea what profit is

 

#Economics is #FailedFakeScience. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economists still don't get the foundational concept of their subject matter right. The BoE book is NO exception.⇒https://t.co/lnw6QFadOE

— E.K-H (@AXECorg) February 10, 2023

Occasional Tweets: Economics is fake science ― the great awakening is now also taking hold of the slow thinkers

 

#FakeScience

“In economics we should strive to proceed, wherever we can, exactly according to the standards of the other, more advanced, sciences, where it is not possible, once an issue has been decided, to continue to write about it as if nothing had happened.” (Morgenstern)

— E.K-H (@AXECorg) February 10, 2023

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

Occasional Tweets: The futile attempt to recycle Keynesianism (XI)

 

#Economics#FailedFakeScience

Logic tells one that the #SectoralBalances add up to zero. Bc #Keynesians are too stupid for elementary #Algebra, they don't get it right to this very day.

How Keynes got macroeconomics wrong and Allais got it righthttps://t.co/DaUHva6out

— E.K-H (@AXECorg) February 9, 2023.

For more about balances see AXECquery. 

Occasional Tweets: The Central Bank ― macroeconomic profit pump of the free market economy

 

The #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, #PrivateFinancialWealth grows in lockstep with #PublicDebt which is the interest #CashCow of the #Oligarchy. By reshuffling the #Debt (buy high, sell low) and taking losses CBs act as a #ProfitPump.

— E.K-H (@AXECorg) February 9, 2023

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

 

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

 

Both #Orthodoxy & #Heterodoxy are axiomatically false & materially/formally inconsistent. #Economics is #FailedFakeScience bc #Economists are NOT #Scientists but #AgendaPushers / #Clowns in the political #CircusMaximus. ⇒https://t.co/3e7MNju2WT

— E.K-H (@AXECorg) February 8, 2023

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

Occasional Tweets: Whom does deficit spending help?

 

The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So ultimately, #DeficitSpendingMoneyCreation is always and everywhere a #FreeLunch for the #Oligarchy.

Keynes, Lerner, MMT, Trump, Biden, and exploding profithttps://t.co/ABFUc41eMs pic.twitter.com/TJmdlkQ8Ce

— E.K-H (@AXECorg) February 8, 2023

For details of the big picture see cross-references Deficit/Debt. 

Occasional Tweets: Ultimately, deficit spending is good for the Oligarchy, and austerity is bad ― that's why public debt increases inexorably

 

#PublicDebt grows for 200+ yrs. This proves that #DeficitSpendingMoneyCreation has been the prevailing policy, and NOT #Austerity. The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit i.e a #FreeLunch for the #Oligarchy.

Linkshttps://t.co/nsoHK9Oalh pic.twitter.com/IjrYZMHVhG

— E.K-H (@AXECorg) February 8, 2023

Occasional Tweets: Learn macro, young economists

 

#Econ#Economics is #FailedFakeScience. The various #MicroFoundations approaches are axiomatically false. So are Keynesian #MacroFoundations. For the inescapable #ParadigmShift to the true set of macroeconomic #Axioms see cross-referenceshttps://t.co/rf8n0xkhRA pic.twitter.com/GpvQXprn7G

— E.K-H (@AXECorg) February 7, 2023

Occasional Tweets: Economists ― creatures of the swamp between true and false

 

#Economics#FailedFakeScience#Science is about true/false. Economists, though, are NOT #Scientists. For 200+ yrs they occupy the swamp zone where “nothing is clear and everything is possible.” (Keynes). As political agenda pushers, their true vocation is #DisInfoTainment. pic.twitter.com/DzPE5Sy8MS

— E.K-H (@AXECorg) February 7, 2023

Related 'What makes economics a failed science?' → “In economics we should strive to proceed, wherever we can, exactly according to the standards of the other, more advanced, sciences, where it is not possible, once an issue has been decided, to continue to write about it as if nothing had happened.” (Morgenstern)

and '#DrainTheScientificSwamp'. 

Occasional Tweets: Totally underrepresented in economics ― scientists

 

The major economic approaches are axiomatically false & materially/formally inconsistent. To this day, #Economics is #FailedFakeScience. Therefore, academic #SelfGovernment should aim at increasing the representation of #ScientistsInEconomics. pic.twitter.com/qbqlL9l2H4

— E.K-H (@AXECorg) February 7, 2023

Occasional Tweets: Most economists are not scientists but political agenda pushers (VI)

 

'Have you ever sat in a political economy conference and noticed you were the only #Scientist in the room?'
The major approaches are axiomatically false & materially/formally inconsistent. #Economists are NOT #Scientists but #AgendaPushers/#Clowns in the political #CircusMaximus. pic.twitter.com/eIMmyiVV93

— E.K-H (@AXECorg) February 7, 2023

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

Occasional Tweets: Economics is not science but disinfotainment (IV)

 

#Econ#FailedFakeScience#DisInfoTainment#Economics is about how the #Economy works. It is a #SystemsScience & NOT about #Meditation / #Mindfulness / #Morality. See cross-referenceshttps://t.co/MzGiF9gpXa pic.twitter.com/2vJDWehJ71

— E.K-H (@AXECorg) February 6, 2023

Occasional Tweets: The futile attempt to recycle Keynesianism (X)

 

#Economics#FailedFakeScience#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. As a consequence, the whole analytical superstructure of #Keynesianism is scientifically worthless ― #EmploymentTheory in particular. ⇒https://t.co/fYComRqFX3

— E.K-H (@AXECorg) February 6, 2023

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

Occasional Tweets: "(Almost) nobody gets macro"

 

#Economics#FailedFakeScience

All variants of macroeconomic models are axiomatically false. The fact is, that Keynes messed up #MacroFoundations 80+ years ago bc he was too stupid for elementary #Algebra. #Economists don't get it to this day. The #ParadigmShift is long overdue. pic.twitter.com/MUFlj4OVS0

— E.K-H (@AXECorg) February 5, 2023

For more about macrofoundations see AXECquery. 

Occasional Tweets: Forget Keynes and Marx and all the rest

 

#Economics is NOT #Science. To this day, #Economists have not figured out how the #Economy works bc most of them are NOT #Scientists but #AgendaPushers/#Clowns in the political #CircusMaximus.
Keynes―Marx―Profit: The abysmal scientific failure of economicshttps://t.co/ps2MeC9d4M

— E.K-H (@AXECorg) February 4, 2023

Occasional Tweets: What's wrong with economics? (II)

 

#Econ#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, #MMT, #Pluralism are axiomatically false & materially/formally inconsistent. #Economics is #FailedFakeScience bc #ProfitTheory is false since the founding fathers.

Where economics went wronghttps://t.co/Qzdbt59RWc pic.twitter.com/hjYXaXGMny

— E.K-H (@AXECorg) February 4, 2023

Occasional Tweets: Profit, that's where most people go nuts

 

#LearnEconomics#Profit

The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. #PrivateFinancialWealth grows in lockstep with #PublicDebt. pic.twitter.com/oaY1he9GrM

— E.K-H (@AXECorg) February 3, 2023

Occasional Tweets: Freakonomics, Fakeonomics, Craponomics ― call it what you like, except science

 

#Econ#FailedFakeScience#Economics is NOT about why drug dealers still live with their moms but about how the economic #System works. #Economists failed at that task bc, to begin with, they NEVER got the foundational concept of their subject matter ― #Profit ― right. pic.twitter.com/3LqTFyHwcL

— E.K-H (@AXECorg) February 3, 2023

Occasional Tweets: There is no reason to believe in economics

 

The history of economic thought is the history of scientific failure. The major approaches are axiomatically false & materially/formally inconsistent. #Economics is NOT #Science, #Economists are NOT #Scientists but #Believers / #AgendaPushers / #Clowns in the #CircusMaximus. pic.twitter.com/ASNoxTfvDf

— E.K-H (@AXECorg) February 3, 2023

Occasional Tweets: Profit and greed ― why economics is still a proto-scientific laughing stock

 

#FailedFakeScience#Economics is NOT a #SocialScience but a #SystemsScience. Therefore, #Profit cannot be explained by #Greed. It is ultimately determined by the #ProfitLaw, e.g. Q≡(G−T)+(I−S)+Yd. #Economists still don't get the basic concept of their subject matter right. pic.twitter.com/Z0fXUou3tb

— E.K-H (@AXECorg) February 2, 2023

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

 

#Economics#FailedFakeScience

The history of economic thought is the history of scientific failure. #Kalecki is NO exception but Devika Dutt has not realized anything to this day.

For details see cross-referenceshttps://t.co/IFclXX52ux

— E.K-H (@AXECorg) February 2, 2023

Occasional Tweets: Learn economics ― but avoid the proto-scientific garbage

 

#Econ#FailedFakeScience

“Sound economic reasoning is an enormously powerful tool for understanding both the economy and society.”

Economic reasoning is unsound since #AdamSmith bc #Economists NEVER got the foundational concept of #Profit right. Per Bylund is NO exception. pic.twitter.com/9QL2IE5rYa

— E.K-H (@AXECorg) February 1, 2023

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

 

#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra.

As a consequence of the #ProfitBlunder, the whole analytical superstructure of #Economics is scientifically worthless. Pasinetti et al. never realized anything. ⇒https://t.co/TGTkAwXEWG pic.twitter.com/16uXJUBWYJ

— E.K-H (@AXECorg) February 1, 2023

Occasional Tweets: How it works ― the central bank as profit pump (I)

 

The #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, #PrivateFinancialWealth grows in lockstep with #PublicDebt which is the interest #CashCow of the #Oligarchy. By reshuffling the #Debt (buy high, sell low) and taking losses the CB acts as a #ProfitPump.

— E.K-H (@AXECorg) February 1, 2023