#Inflation is the #RateOfChange of the avg #Price. If it goes to zero the problems are NOT over because one is now on a higher #PriceLevel. A negative rate of change is required to fully compensate for the previous price increase. It's the #HigherLevel that kills the #Economy.
— E.K-H (@AXECorg) October 31, 2023
This blog connects to the AXEC Project which applies a superior method of economic analysis. The following comments have been posted on selected blogs as catalysts for the ongoing Paradigm Shift. The comments are brought together here for information. The full debates are directly accessible via the Blog-References. Scrap the lot and start again―that is what a Paradigm Shift is all about. Time to make economics a science.
October 31, 2023
Occasional Xs: How it works (XC)
Occasional Xs: How it works (LXXXIX)
The US polity is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So #PrivateFinancialWealth ≈ #PublicDebt & in the form of #Bonds becomes the #Interest #CashCow. Interest is taxed from #WeThePeople. pic.twitter.com/GDh4aaaLOG
— E.K-H (@AXECorg) October 31, 2023
Occasional X: The fight against the debt brake (III)
#SchuldenBremse
— E.K-H (@AXECorg) October 31, 2023
The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Their #FinancialWealth grows with #PublicDebt. #DebtBrake means #ProfitBrake. So folks try hard to get rid of it.⇒https://t.co/nsoHK9Oalh pic.twitter.com/XZ4hyCSFQQ
Occasional X: The fight against the debt brake (II)
#SchuldenBremse
— E.K-H (@AXECorg) October 31, 2023
The macro #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Their #FinancialWealth grows with #PublicDebt. #DebtBrake means #ProfitBrake, so it has to disappear. ⇒https://t.co/nsoHK9Oalh pic.twitter.com/4OAG0rYxBM
Occasional Xs: What economists really do (LXIII)
#FailedFakeScience#Economics claims to be #Science but is NOT. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot / #Clown in the political #CircusMaximus. The Editor in Chief of the #NewPalgraveDictionary & #NakedKeynesian is he living proof. pic.twitter.com/epVc3WVYUN
— E.K-H (@AXECorg) October 31, 2023
For details of the big picture see cross-references The Representative Economist.
Occasional Xs: What economists really do (LXII)
#Econ#FailedFakeScience
— E.K-H (@AXECorg) October 31, 2023
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public … (A. Smith)
The representative #Economist is NOT a #Scientist but has always been a political #AgendaPusher. pic.twitter.com/c2AlxH3jyn
Occasional Xs: What economists really do (LXI)
#Econ#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economics is scientifically worthless from Adam Smith onward. Actually, it is a #Scam to the detriment of #WeThePeople.
— E.K-H (@AXECorg) October 31, 2023
Occasional Xs: The futile attempt to recycle Adam Smith (XLV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) October 31, 2023
The history of economic thought is the history of scientific failure. #AdamSmith NEVER understood what #Profit is and how the economic #System works. Marveling about the #DivisionOfLabour in the #PinFactory is NOT economics. pic.twitter.com/dkyoxrNnIv
October 30, 2023
Occasional Xs: Paradigm Shift (VI)
#Economics is #FailedFakeScience. #Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. Economics is scientifically worthless. Economic #PolicyGuidance has NEVER had scientific foundations. pic.twitter.com/96hVDdOYEy
— E.K-H (@AXECorg) October 30, 2023
Occasional Xs: How it works (LXXXVIII)
The US #Polity is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation i.e. growing #PublicDebt is a #FreeLunch for the Oligarchy. This saves the #Economy from breakdown. pic.twitter.com/QeiqaV1LMq
— E.K-H (@AXECorg) October 30, 2023
Occasional X: The fight against the debt brake (I)
#SchuldenBremse
— E.K-H (@AXECorg) October 30, 2023
The macro #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Their #FinancialWealth grows with #PublicDebt. #DebtBrake means #ProfitBrake. The #ZeitenWende's mission is to get rid of it. pic.twitter.com/lX6rNHPzSn
Related 'Links on Austerity'
Occasional Xs: The history of economic thought is the history of scientific failure (XV)
The history of economic thought is the history of scientific failure. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #GeneralEquilibriumTheory is a case of #CargoCultScience. pic.twitter.com/RPLaXYx2wg
— E.K-H (@AXECorg) October 30, 2023
Related 'What are Walrasians waiting for?'
Occasional Xs: How it works (LXXXVII)
The US #Polity is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. With #DeficitSpendingMoneyCreation i.e. growing #PublicDebt they steadily increase their #FinancialWealth. #InEquality is built in. pic.twitter.com/CUzLgvyZlD
— E.K-H (@AXECorg) October 30, 2023
For details of the big picture see cross-references Profit/Distribution.
Occasional Xs: What economists really do (LX)
#Econ#FailedFakeScience#Economics claims to be #Science but is NOT. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot / #Clown in the political #CircusMaximus. Their discourse level is impossible to undercut. pic.twitter.com/UpBYz63xsB
— E.K-H (@AXECorg) October 30, 2023
October 29, 2023
Occasional Xs: What economists really do (LVIX)
#Econ#FailedFakeScience
— E.K-H (@AXECorg) October 29, 2023
The US political system is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The communicative superstructure is produced by #Academia/#Media. This business model was established in 1944 by #RockefellerFoundation/#Yale/#vonMises. pic.twitter.com/byax35b5t0
Occasional Xs: What economists really do (LVIII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) October 29, 2023
Since the founding fathers, #Economists have consistently violated the foundational #Principle of the #Separation of #Science and #Politics.#TheScientistIsNoActivist#TheActivistIsNoScientist#PoliticsCorruptsScience pic.twitter.com/xKLKW7AjbE
Occasional Xs: What economists really do (LVII)
#Econ
— E.K-H (@AXECorg) October 29, 2023
Freedom is a political concept. #Economists who do not get tired of waving the flag of #Freedom/#Liberty/#Democracy are NOT #Scientists. They have NO idea what #Profit is & how the #Economy works but are #AgendaPushers/#UsefulIdiots/#Clowns in the political #CircusMaximus. pic.twitter.com/L3MwDAWUMN
Occasional Xs: The futile attempt to recycle Marx (XV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) October 29, 2023
The “Marxist Theoretisation of Capitalist Crises” is proto-scientific garbage bc Marx never understood the #ProfitLaw ⇓.
Marx and Marxists ― too stupid for the elementary algebra of profithttps://t.co/643VWm6FrO pic.twitter.com/485MDR3TyZ
Occasional Xs: What economists really do (LVI)
#Econ
— E.K-H (@AXECorg) October 29, 2023
'You realise that #Economists say what they say, not because it's true but because it's effective'. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot / #Clown in the political #CircusMaximus. The whole #Economics is #FailedFakeScience. pic.twitter.com/h8e1iUHPpX
October 28, 2023
Occasional Xs: Economics ― just disinfotainment and self-hype (XXVII)
#Econ#FailedFakeScience
— E.K-H (@AXECorg) October 28, 2023
The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is NOT a #Scientist but an #AgendaPusher/#Clown in the political #CircusMaximus. Who is the greatest? Shame on them all!
Occasional Xs: The futile attempt to recycle Austrianism (XVII)
#Economics#FailedFakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. vonMises was NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. pic.twitter.com/nKadVXqqJs
— E.K-H (@AXECorg) October 28, 2023
Occasional Xs: How it works (LXXXVI)
“… traders who understand MMT are making a killing”. Yes, the 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit so the #MMT policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. ⇒https://t.co/WGuiYhKXI5 pic.twitter.com/zJOGuKrd6p
— E.K-H (@AXECorg) October 28, 2023
Occasional Xs: What economists really do (LV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) October 28, 2023
Why are #Economists talking about the #Brain although they obviously have none? That's not an accident but a case of #EconomicsImperialism. For 200+ years now, economists have been in the #DisInfoTainment business. ⇒https://t.co/cChZwVrq7J pic.twitter.com/8Gw8kV9xUN
October 27, 2023
Occasional Xs: How it works (LXXXV)
The US #Economy runs on #Profit. The macro #ProfitLaw ⇓ implies that the greater part is produced by #DeficitSpendingMoneyCreation. So, #PrivateFinancialWealth ≈ #PublicDebt. #Capitalism/#MarketEconomy/#StockMarket are saved from breakdown by #Fed/#Treasury i.e. the #State. pic.twitter.com/FxNTCOleOz
— E.K-H (@AXECorg) October 27, 2023
Occasional Xs: Clueless economists / Profit (XII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) October 27, 2023
The history of economic thought is the history of scientific failure. #AdamSmith NEVER understood what #Profit is and how the economic #System works. #Economists have NOT figured that out until today. #DistibutionTheory is the unassailable proof. pic.twitter.com/KQ8Ep4h6aQ
Occasional Xs: How it works (LXXXIV)
#Growth#GDP
— E.K-H (@AXECorg) October 27, 2023
The US political system is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The macro #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. #DeficitSpendingMoneyCreation is a #FreeLunch for the Oligarchy. Bigger is better. Well done, Mr. Biden! pic.twitter.com/lQrpX4dDpn
Occasional Xs: Clueless economists / Science (XVI)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) October 27, 2023
“The problem is not just to say that something might be wrong, but to replace it by something — and that is not so easy.” (Feynman)
Stop beating the dead economics horse ⇒https://t.co/cCR2e6onOi#Reset
Occasional Xs: Clueless economists / Science (XV)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. How long can it last that #Economists get the #NobelPrize anyway? pic.twitter.com/z9z0Uq7rXG
— E.K-H (@AXECorg) October 27, 2023
October 26, 2023
Occasional Xs: Clueless economists / Profit (XI)
#BadDesign
— E.K-H (@AXECorg) October 26, 2023
The US #Economy runs on #Profit. The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies that the greater part is produced by #DeficitSpendingMoneyCreation. So, #PrivateFinancialWealth ≈ #PublicDebt. #Capitalism is saved from breakdown by #Fed/#Treasury i.e. the #State.
Occasional Xs: Economists’ eternal problem with methodology (IV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) October 26, 2023
The history of economic thought is the history of scientific failure and #Methodologists are an integral part of it. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. ⇒https://t.co/QJycQUh0Uj
Occasional Xs: What economists really do (LIV)
#Economics claims to be #Science but is NOT. The representative #Economist is NOT a #Scientist but an #AgendaPusher/#Clown in the political #CircusMaximus. The #FreeMarket/#SpontaneousOrder talk is vacuous bc they NEVER understood what #Profit is & how the economic #System works. pic.twitter.com/xEMeQQHsOx
— E.K-H (@AXECorg) October 26, 2023
Occasional Xs: What economists really do (LIII)
#Economics is NOT #Science but #DisInfoTainment. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. #Academia has been weaponized by #Donors for the benefit of the #Oligarchy and the #Disadvantage of #WeThePeople. pic.twitter.com/TY5NemDkSj
— E.K-H (@AXECorg) October 25, 2023
Occasional Xs: How it works (LXXXIII)
The US #Economy runs on #Profit. The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies that the greater part is produced by #DeficitSpendingMoneyCreation. So, #PrivateFinancialWealth ≈ #PublicDebt. The #FreeMarketEconomy is saved from collapse by #Fed/#Treasury i.e. the #State.
— E.K-H (@AXECorg) October 25, 2023
Occasional Xs: The futile attempt to recycle MMT (XLIV)
#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) October 25, 2023
MMT is a political fraud for the advantage of the #Oligarchy & the disadvantage of #WeThePeople.
Cross-ref: MMT is refuted on all countshttps://t.co/9Rldtrw2J1
S. Kelton/I. Weber are #AgendaPushers/#EconBlockers. pic.twitter.com/ZeXFRHS40u
October 25, 2023
Occasional Xs: How it works (LXXXII)
The US political system is an #Oligarchy. The #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. #PrivateFinancialWealth grows with #PublicDebt & in the form of #Bonds becomes the Oligarchy's eternal #Interest #CashCow. #Interest is taxed from #WeThePeople. pic.twitter.com/ctYlMyjyYz
— E.K-H (@AXECorg) October 25, 2023
Occasional Xs: What economists really do (LII)
#Economics#FailedFakeScience#DisInfoTainment
— E.K-H (@AXECorg) October 25, 2023
'You realise that #Economists say what they say, not because it's true but because it's effective'. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. pic.twitter.com/unGxsXS291
Occasional Xs: Economics ― just disinfotainment and self-hype (XXVI)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. Samuelson was NO exception. ⇒https://t.co/VQB9guKfgB
— E.K-H (@AXECorg) October 25, 2023
For details of the big picture see cross-references Failed/Fake Scientists.
Occasional Xs: Clueless economists / Money (III)
#Economics
— E.K-H (@AXECorg) October 25, 2023
The creation of #Money out of nothing is NO problem at all but the policy of #DeficitSpendingMoneyCreation is.
The creation and value of money and near-monieshttps://t.co/vZflD86Pfv
MMT, money creation, stealth taxation, and redistributionhttps://t.co/FJUN2SMRXt
Related 'Criminals and the Monetary Order'.
Occasional Xs: Clueless economists / Profit (X)
#SchuldenBremse
— E.K-H (@AXECorg) October 25, 2023
The macro #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Their #FinancialWealth grows with #PublicDebt. #DebtBrake means #ProfitBrake. Mr. Habeck's political mission is to get rid of it. pic.twitter.com/amt6HTRFFp
Occasional Xs: Clueless economists / Science (XIV)
#Econ#FailedFakeScience#Economists#StupidOrCorruptOrBoth#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong.
— E.K-H (@AXECorg) October 25, 2023
The GDP death blow for the economics professionhttps://t.co/QJycQUh0Uj
Occasional Xs: The futile attempt to recycle MMT (XLIII)
The UK political system is an #Oligarchy. The #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. #PrivateFinancialWealth grows with #PublicDebt & in the form of #Bonds becomes their eternal #Interest #CashCow. #MMT provides a #SocialFacade for #DeficitSpending. pic.twitter.com/lNeOtwSLlv
— E.K-H (@AXECorg) October 25, 2023
Related 'Links on MMTers push Wall Street’s agenda'.
Occasional Xs: The futile attempt to recycle Keynesianism (XXXIII)
#Economics#FailedFakeScience#Keynesianism#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. #MacroFoundations are provably false, so the whole of #MacroEconomics is scientifically worthless. #AfterKeynesians don't get it to this day. pic.twitter.com/VBeogPuHKP
— E.K-H (@AXECorg) October 25, 2023
For details of the big picture see cross-references Keynesianism.
For more about NAIRU see AXECquery.
Occasional Xs: Clueless economists / Deflation (I)
#LearnEconomics
— E.K-H (@AXECorg) October 25, 2023
From the macroeconomic #LawOfSupplyAndDemand ↓ the intelligent layperson can immediately conclude that #Deflation (P down) occurs under the condition of market clearing if the increases of the avg #WageRate W are lower than increases of avg #Productivity R. pic.twitter.com/kyM88odLBY
October 24, 2023
Occasional Xs: Economics still lacks correct macrofoundations (XIX)
#Economics#FailedFakeScience#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. #MacroFoundations are provably false, so the whole of #MacroEconomics is scientifically worthless to this day. #Economists don't get it at all. pic.twitter.com/1dwaUoyCkk
— E.K-H (@AXECorg) October 24, 2023
Occasional Xs: The futile attempt to recycle Keynesianism (XXXII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth#Keynes got macroeconomic #Profit wrong because he was too stupid for elementary #Algebra. Bc of this, #MacroEconomics is scientifically worthless to this day. Keynesians never got it. pic.twitter.com/GTOvu4YVOG
— E.K-H (@AXECorg) October 24, 2023
Occasional Xs: Clueless economists / Science (XIII)
#Economics is #FailedFakeScience. #Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. Economics is scientifically worthless. The required #CulturalChange consists of a #ParadigmShift. pic.twitter.com/endMHXKR2c
— E.K-H (@AXECorg) October 24, 2023
Occasional Xs: Clueless economists / Profit (IX)
#Econ
— E.K-H (@AXECorg) October 24, 2023
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 ― wrong.
Profit Theory in less than 5 minuteshttps://t.co/eYP42FjC6j pic.twitter.com/uzP7LHBx20
Occasional Xs: Economics ― just disinfotainment and self-hype (XXV)
“Economics is the study of the economy, not the study of economists.” (Ricardo Reis)
— E.K-H (@AXECorg) October 24, 2023
The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. There is NO such thing as a #GreatEconomist. pic.twitter.com/FOhYpc2Hbw
October 21, 2023
Occasional Xs: The futile attempt to recycle Adam Smith (XLIV)
#Econ#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) October 21, 2023
The history of economic thought is the history of scientific failure. #AdamSmith NEVER understood what #Profit is and how the economic #System works. Economic #PolicyGuidance has NEVER had sound scientific foundations. pic.twitter.com/LR39n7GiFs
Occasional Tweets: No false-hero memorials (XVIII)
“Economics is the study of the economy, not the study of economists.” (R. Reis)
— E.K-H (@AXECorg) October 21, 2023
The history of economic thought is the history of scientific failure. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. Jevons was NO exception.
For more about Jevons see AXECquery.
October 20, 2023
Occasional Xs: Economics ― just disinfotainment and self-hype (XXIV)
#Econ#FailedFakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. To this day, #Economists are NOT #Scientists but #AgendaPushers / #Clowns in the political #CircusMaximus. pic.twitter.com/a6NzZ2BafV
— E.K-H (@AXECorg) October 20, 2023
Occasional Xs: Economics still lacks correct macrofoundations (XVIII)
#Economics#FailedFakeScience#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. #MacroFoundations are provably false, so the whole of #Economics is scientifically worthless to this day. #Economists don't get it at all. pic.twitter.com/1XjHV2o6j5
— E.K-H (@AXECorg) October 20, 2023
Occasional Xs: Clueless economists / Money (II)
#LearnEconomics#Money
— E.K-H (@AXECorg) October 20, 2023
Money is NOT a thing. It is information and it is stored on a data medium, e.g. gold coin, clay tablet, paper, magnetic data carrier, etc.
Money is informationhttps://t.co/AVDfyVrfLm
Money: from silly stories to the true theoryhttps://t.co/bqwe2T4LiX
For more about money-is-information see AXECquery.
Occasional Xs: Economic policy guidance has never had sound scientific foundations (XVIII)
#Economics claims to be #Science but is NOT. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. Economic #PolicyGuidance has NO sound scientific foundations for 200+ yrs.
— E.K-H (@AXECorg) October 20, 2023
Iatrogenic economicshttps://t.co/BR3Lnnt5nf
Occasional Xs: How it works (LXXXI)
#Econ
— E.K-H (@AXECorg) October 20, 2023
The US political system is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The #ProfitLaw implies #PublicDeficitIsPrivateProfit. With #DeficitSpendingMoneyCreation the Oligarchy increases its #FinancialWealth. Senator Sanders is part of the system.
Occasional Xs: How it works (LXXX)
The US political system is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Bigger is better. Well done, Mr. Biden!
— E.K-H (@AXECorg) October 20, 2023
Occasional Xs: The futile attempt to recycle MMT (XLII)
#MMT#BadScienceBadPolicyBadPeople#DisInfoTainment#Manga#EconTwitter
— E.K-H (@AXECorg) October 20, 2023
What is MMT? (III) ― Rectifying Bill Mitchellhttps://t.co/v0UiqGbBWN pic.twitter.com/NEafqncNUs
Occasional Xs: The futile attempt to recycle MMT (XLI)
#LearnEcon
— E.K-H (@AXECorg) October 20, 2023
The macroeconomic #ProfitLaw ↓ implies #PublicDeficitIsPrivateProfit. So, #PrivateFinancialWealth grows with #PublicDebt and in the form of #Bonds becomes the permanent interest #CashCow for the #Oligarchy. #MMT policy is NEVER for the benefit of #WeThePeople. pic.twitter.com/2hkRsnA5F4
For details of the big picture see cross-references MMT.
Occasional Xs: Economics still lacks correct macrofoundations (XVII)
#Econ#FailedFakeScience#Economics is about how the #Economy works. It is a #SystemsScience & NOT a #SocialScience i.e. NOT about #HumanNature / #Motives / #Behavior / #Choice / #Incentives / #Expectations / #Happiness / #Despair / or voting on presidential candidates. pic.twitter.com/gwPY6iltZg
— E.K-H (@AXECorg) October 20, 2023
October 19, 2023
Occasional Xs: What economists really do (LI)
#Econ#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. Academic #Economics is a rigged institution from #PeerReview to the #EconNobel. Neither looks nor scientific competence matters. pic.twitter.com/kICfp0tM4I
— E.K-H (@AXECorg) October 19, 2023
Occasional Xs: Clueless economists / Science (XII)
#FailedFakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. pic.twitter.com/WYTL8rEGCM
— E.K-H (@AXECorg) October 19, 2023
Occasional Xs: How it works (LXXIX)
#PublicDebt increases for 200+ ys. The 3-sec #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Their #FinancialWealth grows with #PublicDebt which is the #LifeFormula of the #MarketEconomy. pic.twitter.com/nTMrMWWNmt
— E.K-H (@AXECorg) October 19, 2023
October 18, 2023
Occasional Xs: How it works (LXXVIII)
The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. Thus, the policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Bigger is better, exploding #PublicDebt is best. The Oligarchy can easily “afford” any amount of #WarSpending. pic.twitter.com/ZD80KdcLnD
— E.K-H (@AXECorg) October 18, 2023
Occasional Xs: How it works (LXXVII)
The macro #LawOfSupplyAndDemand ↓ tells one how the avg #Price P moves under the condition of #MarketClearing as a function of avg #WageRate W, #Productivity R, and #DeficitSpendingMoneyCreation i.e. the expenditure ratio ρE which increased in USA/EUR due to #Cov & #War. pic.twitter.com/aNRI8YKrok
— E.K-H (@AXECorg) October 18, 2023
Occasional Xs: The futile attempt to recycle Adam Smith (XLIII)
#Econ#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) October 18, 2023
The history of economic thought is the history of scientific failure. #AdamSmith NEVER understood what #Profit is and how the economic #System works. Economic #PolicyGuidance has NEVER had sound scientific foundations. pic.twitter.com/r4i5TuqtZF
Occasional Xs: Clueless economists / Science (XI)
#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economics is scientifically worthless from Adam Smith onward. Econometrica & the Review of Economic Studies are just another proof. pic.twitter.com/jxD1Ew9uGD
— E.K-H (@AXECorg) October 18, 2023
Occasional Xs: Economics ― just disinfotainment and self-hype (XXIII)
#FailedFakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & All got #Profit wrong. There is NO such thing as a #GreatEconomist.
— E.K-H (@AXECorg) October 18, 2023
What it takes to become a great economisthttps://t.co/HVcY8apfri
For details of the big picture see cross-references The Representative Economist
Occasional Xs: What economists really do (L)
#Economics claims to be #Science but is NOT. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. Isabel Schabel is NOT legitimized by her official position at the ECB to do political flag-waving/war propaganda. pic.twitter.com/t7i9cEqIRL
— E.K-H (@AXECorg) October 18, 2023
Occasional Xs: What economists really do (XLIX)
#Economics claims to be #Science but is NOT. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot /#Clown in the political #CircusMaximus. In their utter #Incompetence, #Economists are a danger to their fellow citizens. ⇒https://t.co/BR3Lnnt5nf pic.twitter.com/1YAKtPcihV
— E.K-H (@AXECorg) October 18, 2023
Occasional Xs: What economists really do (XLVIII)
#Economics claims to be #Science but is NOT. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot / #Clown in the political #CircusMaximus. Economics is scientifically worthless & has become an integral part of the #DisInfoTainment industry.
— E.K-H (@AXECorg) October 18, 2023
October 17, 2023
Occasional Xs: Clueless economists / Science (X)
#Economics claims to be #Science but is NOT. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot /#Clown in the political #CircusMaximus. Economics is scientifically worthless & has become an integral part of the #DisInfoTainment industry. pic.twitter.com/YP6PQ4igtP
— E.K-H (@AXECorg) October 17, 2023