#LearnRealEcon#Economics claims to be #Science but is NOT. 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. pic.twitter.com/SoTiRiLA7X
— E.K-H (@AXECorg) February 29, 2024
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.
February 29, 2024
Occasional Xs: Clueless economists / Science (LXIV)
Occasional Xs: Economics ― just disinfotainment and self-hype (XLIII)
#EconTwitter
— E.K-H (@AXECorg) February 29, 2024
The history of economic thought is the history of scientific failure. The #RottenEconomistTheorem states that the representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus & in his incompetence a #DangerToHumanity. pic.twitter.com/w5QF4rdJCY
For details of the big picture see cross-references The Representative Economist.
Occasional Xs: What economists really do (CLXXXV)
#SVR
— E.K-H (@AXECorg) February 29, 2024
The #ProfitLaw implies #PublicDeficitIsPrivateProfit. So, the 1%ers & their #Loudspeakers should always argue FOR #DeficitSpendingMoneyCreation = #GrowingPublicDebt = #FreeLunch for the #Oligarchy. #PrivateFinancialWealth ≈ #PublicDebt which is owed by #WeThePeople. pic.twitter.com/wttTh4GiVu
Occasional Xs: How it works (CLVIII)
The US polity is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The #ProfitLaw implies #PublicDeficitIsPrivateProfit ⇒ #PrivateFinancialWealth ≈ #PublicDebt ⇒ Gov #Bonds become the Oligarchy's #Interest #CashCow. Interest is taxed from #WeThePeople. pic.twitter.com/cIkfw0eih9
— E.K-H (@AXECorg) February 29, 2024
Occasional Xs: Paradigm Shift (XVII)
#EconTwitter#Economics#FailedFakeScience#Economists claim to do #Science. However, the major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. As Joan Robinson said, “Scrap the lot and start again”. pic.twitter.com/VVAZEGzDPL
— E.K-H (@AXECorg) February 29, 2024
February 28, 2024
Occasional Xs: What economists really do (CLXXXIV)
#EconTwitter#Economists claim to do #Science. However, the major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. So, economic #PolicyGuidance has NEVER had valid scientific foundations. pic.twitter.com/YYcBz0m5IL
— E.K-H (@AXECorg) February 28, 2024
Occasional Xs: Clueless economists / Profit (XXXII)
#Economics#FailedFakeScience#MacroFoundations
— E.K-H (@AXECorg) February 28, 2024
The #NationalIncomeFormula is false bc #Economists are too stupid for elementary #Algebra.
The GDP death blow for the economics professionhttps://t.co/QJycQUh0Uj
For the correct national #Profit formula see ⇓ pic.twitter.com/dlwsQGVMuW
February 27, 2024
Occasional Xs: Clueless economists / Science (LXIII)
#EconTwitter
— E.K-H (@AXECorg) February 27, 2024
The history of economic thought is the history of scientific failure. The Rotten Economist Theorem states that the representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. That is the core problem of #Economics. pic.twitter.com/UPe7PKmkT3
Occasional Xs: Paradigm Shift (XVI)
#EconTwitter#Economics claims to be #Science but is NOT. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The No. 1 idea to improve economics: finally make the overdue #ParadigmShift. pic.twitter.com/Z3wZRIfTn4
— E.K-H (@AXECorg) February 27, 2024
February 26, 2024
Occasional Xs: The futile attempt to recycle Keynesianism (L)
#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. So, he messed up the #ParadigmShift from #MicroFoundations to #MacroFoundations. Bc of this initial blunder, the whole of (#Micro & #Macro) #Economics is scientifically worthless to this day. pic.twitter.com/APM6B5aXxu
— E.K-H (@AXECorg) February 26, 2024
February 25, 2024
Occasional Xs: The futile attempt to recycle Hayek (XIII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) February 25, 2024
Hayek NEVER understood what profit is and how the economic system works. He was NOT a scientist but an agenda pusher/clown in the political Circus Maximus.
Austrian idiocy ― the case of Hayekhttps://t.co/qa0Sk30K5l pic.twitter.com/fS9Y8uqPrj
Occasional Xs: The futile attempt to recycle Keynesianism (XLIX)
#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. So, he messed up the #ParadigmShift from #MicroFoundations to #MacroFoundations. Bc of this initial blunder, the whole of (#Micro & #Macro) #Economics is scientifically worthless to this day. pic.twitter.com/lmg3qjFLBE
— E.K-H (@AXECorg) February 25, 2024
Also at Heimberger
February 22, 2024
Occasional Xs: What economists really do (CLXXXIII)
#Economists claim to do #Science. However, the major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. So, #PolicyGuidance has NO valid scientific foundations. The #Axiom of #UtilityMaximization implies that they are #UsefulIdiots. pic.twitter.com/7HIDdDNNqC
— E.K-H (@AXECorg) February 22, 2024
Occasional Xs: How it works (CLVIII)
#RealEconomics#Samuelson / #Solow messed up the original #PhillipsCurve. While you are at it, could you please test the axiomatically correct macrofounded Phillips Curve 3.0 ⇓?
— E.K-H (@AXECorg) February 22, 2024
NAIRU, wage-led growth, and Samuelson's Dyscalculiahttps://t.co/qDrdo8Hdey pic.twitter.com/wavQ6Ce1P0
February 21, 2024
Occasional Xs: How it works (CLVII)
#ThxSPD
— E.K-H (@AXECorg) February 21, 2024
The #ProfitLaw implies #PublicDeficitIsPrivateProfit. So, the 1%ers & their #Loudspeakers should always argue FOR #DeficitSpendingMoneyCreation = #GrowingPublicDebt = #FreeLunch for the #Oligarchy. #PrivateFinancialWealth ≈ #PublicDebt which is owed by #WeThePeople. pic.twitter.com/zptQTI7PKz
Occasional Xs: How it works (CLVI)
#Economics#War#EconomicWarfare
— E.K-H (@AXECorg) February 21, 2024
The ruin of the GER #Economy & the #Impoverishment of #WeThePeople is the direct consequence of the #Ampel's #ZeitenWende policy. Exploding #MilitarySpending has exploded #PublicDebt. This is why #DebtCeilings are abolished everywhere. pic.twitter.com/uNt6Mp1KKG
Occasional Xs: What economists really do (CLXXXII)
#Economics claims to be #Science but is NOT. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. So, #EconomicPolicyGuidance has NEVER had valid scientific foundations. The #SVR has NO justification for existence. pic.twitter.com/uhHPtz1jZF
— E.K-H (@AXECorg) February 21, 2024
Occasional Xs: Paradigm Shift (XV)
#Economics claims to be #Science but is NOT. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is NOT a #Scientist but a stupid political #AgendaPusher ― unfit for the overdue #ParadigmShift. pic.twitter.com/faDkBW1Lar
— E.K-H (@AXECorg) February 21, 2024
Occasional Xs: What economists really do (CLXXXII)
The correct term for the GER polity is #Oligarchy. Institutions like #Parliament/#Treasury/#CB/#BigBusiness are integral parts. #Academia is NOT free/independent. The behavioral default hypothesis is that the representative #Economist is agenda-pushing on the Oligarchy's behalf. pic.twitter.com/h0PC5nJFRN
— E.K-H (@AXECorg) February 21, 2024
For details of the big picture see cross-references Political Economics/Stupidity/Corruption.
February 20, 2024
Occasional Xs: What economists really do (CLXXXI)
The history of economic thought is the history of scientific failure. The Rotten Economist Theorem states that the representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot /#Clown in the political #CircusMaximus. pic.twitter.com/rplD6I8VIK
— E.K-H (@AXECorg) February 20, 2024
Occasional Xs: How it works (CLV)
#LearnRealEcon
— E.K-H (@AXECorg) February 20, 2024
NAIRU, wage-led growth, and Samuelson's Dyscalculiahttps://t.co/qDrdo8Hdey
February 19, 2024
Occasional Xs: How it works (CLIV)
#PrintYourselfRich
— E.K-H (@AXECorg) February 19, 2024
The US #Economy runs on #Profit. The #ProfitLaw implies that the greater part is produced by #DeficitSpendingMoneyCreation. So, #PrivateFinancialWealth ≈ #PublicDebt. #Capitalism/#BigBusiness/#WallStreet are nominally kept alive by the profit-generating #Fed. pic.twitter.com/u0kGtbtPS8
Occasional Xs: The history of economic thought is the history of scientific failure (XXI)
The history of economic thought is the history of scientific failure. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The main lesson of 200+ years of #Capitalism is that #Economics is scientifically worthless. pic.twitter.com/OVDq4Mtbzq
— E.K-H (@AXECorg) February 19, 2024
Occasional Xs: The history of economic thought is the history of scientific failure (XX)
The history of economic thought is the history of scientific failure. #Walrasianism, #Keynesianism, #Marxianism, #Austrianism et al. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economics is proto-scientific garbage. #History is even worse. pic.twitter.com/VJUbnzlVHm
— E.K-H (@AXECorg) February 19, 2024
Occasional Xs: How it works (CLIII)
The #ProfitLaw implies #PublicDeficitIsPrivateProfit. So, the 1%ers aka #Oligarchy & their public loudspeakers should always argue FOR #DeficitSpendingMoneyCreation = #GrowingPublicDebt. This is what happens everywhere ― after all, the Oligarchy needs a bigger #FreeLunch. pic.twitter.com/jxIJql1z1i
— E.K-H (@AXECorg) February 19, 2024
Occasional Xs: What economists really do (CLXXX)
Dear wise women/men of the German Council of Economic Experts,
— E.K-H (@AXECorg) February 19, 2024
your advice/support is no longer needed. Vice Chancellor Dr. Robert Habeck, Federal Minister for Economic Affairs and Climate Protection, has a new expert at his side. pic.twitter.com/FfAs5l7rlu
Occasional Xs: The futile attempt to recycle Keynesianism (XLVIII)
#Keynes got macro #Profit wrong bc he was too stupid for elementary #Algebra. He was NOT a #Scientist but an #AgendaPusher/#Clown in the political #CircusMaximus. The #KeynesGesellschaft stands in this tradition. Now they've honored you. Condolences ― this is really embarrassing. pic.twitter.com/NiF9cCq1P3
— E.K-H (@AXECorg) February 19, 2024
For more about awards in economics see AXECquery.
Occasional Xs: Economics is NOT a social science but a systems science (X)
#Econ#FailedFakeScience#PsySoc#Economics is about how the #Economy works. It is a #SystemsScience & NOT a #SocialScience i.e. NOT about #HumanNature / #Motives / #Behavior / #Choice / #Incentives / #Expectations etc. #PsychoSocialEcon has always been proto-scientific garbage. pic.twitter.com/PnetNlWbUA
— E.K-H (@AXECorg) February 19, 2024
Occasional Xs: What economists really do (CLXXIX)
The #ProfitLaw implies #PublicDeficitIsPrivateProfit. So, the 1%ers & their public #Loudspeakers should always argue FOR #DeficitSpendingMoneyCreation = #GrowingPublicDebt. In GER, the #DebtBrake is standing in the way. To abolish it, a security #Crisis is being conjured up. pic.twitter.com/E1paZXogVz
— E.K-H (@AXECorg) February 19, 2024
Occasional Xs: How it works (CLII)
#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. Saving & investment NEVER become equal. The #ProfitLaw implies that I―S>0 equals #PrivateProfit Q. So, there is NO such thing as a neutral interest rate. Cross-ref⇒https://t.co/TGGYpnS9sG pic.twitter.com/HNxmCAIgN2
— E.K-H (@AXECorg) February 18, 2024
February 18, 2024
Occasional Xs: The futile attempt to recycle Ricardo (VI)
#Economics#FailedFakeScience#Profit
— E.K-H (@AXECorg) February 18, 2024
The history of economic thought is the history of scientific failure and it goes from #DavidRicardo onward to the clueless folks at the #OnlineLibraryOfLiberty.
Ricardo, too, got profit theory wronghttps://t.co/hAbgvDcx17
Occasional Xs: The futile attempt to recycle MMT (LXVII)
#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) February 18, 2024
MMT's foundational #BalancesEquation is provably false, so the whole approach is scientifically worthless.
The page where Stephanie Kelton gets macroeconomics wrong https://t.co/CNFDkXM1Ki pic.twitter.com/k9O3hWl0vk
Occasional Xs: The futile attempt to recycle Adam Smith (LX)
#Econ#FailedFakeScience
— E.K-H (@AXECorg) February 18, 2024
The history of economic thought is the history of scientific failure. #AdamSmith NEVER understood what #Profit is and how the economic #System works. Reading him is more stultifying than enriching. pic.twitter.com/5eq5upqzY5
Occasional Xs: What economists really do (CLXXVIII)
#Economics#FailedFakeScience#DisInfoTainment
— E.K-H (@AXECorg) February 18, 2024
The history of economic thought is the history of scientific failure. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. Ms. Horn provides striking proof of this. pic.twitter.com/t7sTcpfYzQ
Occasional Xs: The futile attempt to recycle Keynesianism (XLVII)
#Economics#FailedFakeScience#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. So, for 80+ years, I=S & IS/LM are provably false. The representative #Economist doesn't get it to this day. Cross-references ⇒https://t.co/TGGYpnS9sG pic.twitter.com/KK9eHNfH0W
— E.K-H (@AXECorg) February 18, 2024
Occasional Xs: What economists really do (CLXXVII)
#Economics claims to be #Science but is NOT. The representative #Economist is NOT a #Scientist but an #AgendaPusher/#Clown in the political #CircusMaximus. However, while their understanding of how the #Economy works is superficial, their policy messages are just #DisInfoTainment pic.twitter.com/YlJOUtqLCu
— E.K-H (@AXECorg) February 18, 2024
Occasional Xs: The futile attempt to recycle MMT (LXVI)
#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) February 18, 2024
MMT's foundational #BalancesEquation is provably false, so the whole approach is scientifically worthless.
The page where Stephanie Kelton gets macroeconomics wrong https://t.co/CNFDkXM1Ki pic.twitter.com/4xvuJrlB8L
Occasional Xs: How it works (CLI)
#GeoPolitics#Europe
— E.K-H (@AXECorg) February 18, 2024
“After the end of World War II … Germany as a whole was organized into two separate polities with limited sovereignty …” (Wikipedia) To this day “Nothing can happen without the United States allowing it to happen.” (Dmitry Orlov)
https://t.co/UBnLxW7SMO
February 17, 2024
Occasional Xs: What economists really do (CLXXVI)
The #ProfitLaw implies #PublicDeficitIsPrivateProfit. So, the 1%ers a.k.a #Oligarchy & their public/academic #Loudspeakers should always argue FOR #DeficitSpendingMoneyCreation = #GrowingPublicDebt. This is what happens everywhere. Only the sales slogans are different. pic.twitter.com/M0FlV0vsxf
— E.K-H (@AXECorg) February 17, 2024
Occasional Xs: How it works (CL)
#LearnRealEcon
— E.K-H (@AXECorg) February 17, 2024
The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy i.e. #PrivateFinancialWealth grows with #PublicDebt. #WeThePeople owes the #Debt, the #Oligarchy owns the #FinancialAssets. pic.twitter.com/eb0r9WjCrE
Occasional Xs: The futile attempt to recycle MMT (LXV)
#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) February 17, 2024
MMT's foundational #BalancesEquation is provably false, so the whole approach is scientifically worthless.
The page where Stephanie Kelton gets macroeconomics wrong https://t.co/CNFDkXM1Ki pic.twitter.com/OGrXCnQBf6
For details of the big piture see cross-references MMT.
Occasional Xs: How it works (CXLIX)
#Price#Profit#Deficit#Inflation
— E.K-H (@AXECorg) February 17, 2024
The macroeconomic #LawOfSupplyAndDemand and the #ProfitLaw tell one exactly how avg #Price P & total #Profit Qm move as a function of avg #WageRate W, avg #Productivity R & overall #DeficitSpendingMoneyCreation ρE ― which is the common cause. pic.twitter.com/oOUKCucuKd
February 16, 2024
Occasional Xs: Clueless economists / Science (LXII)
The history of economic thought is the history of scientific failure. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #EconomicPolicyGuidance has NOT had valid scientific foundations since #Bentham, #Say, #McCulloch et al. pic.twitter.com/vHfxctchiV
— E.K-H (@AXECorg) February 16, 2024
Occasional Xs: How it works (CXLVIII)
The US #Economy runs on #Profit. The #ProfitLaw ⇓ implies that the greater part is produced by #DeficitSpendingMoneyCreation. So #PrivateFinancialWealth ≈ #PublicDebt. #Capitalism/#BigBusiness/#WallStreet are kept alive by the profit-generating #Fed. Same #Mandate for the #ECB. pic.twitter.com/2PDyHwuYND
— E.K-H (@AXECorg) February 16, 2024
Occasional Xs: Clueless economists / Science (LXI)
#Econ#FailedFakeScience
— E.K-H (@AXECorg) February 16, 2024
The #RES #TrusteeBoard has only one task, namely to make sure that #Economics finally becomes a #Science. 200+ years of proto-scientific garbage and political #AgendaPushing are more than enough. pic.twitter.com/pQm5NlL2pV
Occasional Xs: What economists really do (CLXXV)
#Economics claims to be #Science but is NOT. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is a #Clown in the political #CircusMaximus. Their #Forecast games are just #DisInfoTainment. pic.twitter.com/XCoQ1Y64AS
— E.K-H (@AXECorg) February 16, 2024
Occasional Xs: What economists really do (CLXXIV)
#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 etc. #PsychoSocialEcon has always been proto-scientific garbage. pic.twitter.com/eghndsnCe2
— E.K-H (@AXECorg) February 16, 2024
Occasional Xs: How it works (CXLVII)
The #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. #Deflation ends if W & ρE go up. Should be easy for #China. pic.twitter.com/wwb8uiezV8
— E.K-H (@AXECorg) February 16, 2024
Occasional Xs: What economists really do (CLXXIII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) February 16, 2024
The ruin of the GER #Economy & the #Impoverishment of #WeThePeople is the direct consequence of the foreign/domestic #ZeitenWende/#KillNordStream policy of the #Ampel which had been supported by the political loudspeakers of #Academia. pic.twitter.com/qRnoY4JhXW
February 15, 2024
Occasional Xs: Clueless economists / Science (LX)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) February 15, 2024
Milton Friedman never understood what #Profit is and how the economic #System works. That's rather bad for an #Economist.
Friedman and the cluelessness of fake scientistshttps://t.co/b3edQjNEXv pic.twitter.com/0HPhpx9pJn
Occasional Xs: How it works (CXLVI)
#Econ
— E.K-H (@AXECorg) February 15, 2024
The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. #Economics is #FailedFakeScience & #Austrianism is the worst. They have not found the relation between #Deficit, #Money, #Profit & #Inflation.⇒https://t.co/ykS1GUlypU
For details of the big picture see cross-references Failed/Fake Scientists.
Occasional Xs: How it works (CXLV)
#LearnRealEcon
— E.K-H (@AXECorg) February 15, 2024
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. #Billionaires say well done, POTUS! pic.twitter.com/HV5jHX7QU2
Occasional Xs: What economists really do (CLXXII)
#Economics claims to be #Science but is NOT. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is NOT a #Scientist / #Expert but an #AgendaPusher / #Clown in the political #CircusMaximus. pic.twitter.com/wF8PaJh4cM
— E.K-H (@AXECorg) February 15, 2024
February 14, 2024
Occasional Xs: What economists really do (CLXXI)
#Economics#War#EconomicWarfare
— E.K-H (@AXECorg) February 14, 2024
The ruin of the GER #Economy & the #Impoverishment of #WeThePeople is the direct consequence of the foreign/domestic #ZeitenWende policy of #Habeck et al. which had been supported by the #Media & the #EconomicExperts of #Academia.
Occasional Xs: How it works (CXLIV)
#LearnRealEcon
— E.K-H (@AXECorg) February 14, 2024
The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy i.e. #PrivateFinancialWealth grows with #PublicDebt. #WeThePeople owes the #Debt, the #Oligarchy owns the #FinancialAssets. pic.twitter.com/MPaKRi2aJn
February 13, 2024
Occasional Xs: Clueless economists / Science (LIX)
#Economics is #FailedFakeScience. #Economists NEVER understood what #Profit is & how the economic #System works. Keynes/Marx were among the most prolific producers of proto-scientific garbage.
— E.K-H (@AXECorg) February 13, 2024
Keynes―Marx―Profit: The abysmal scientific failure of economicshttps://t.co/ps2MeC9d4M
For details of the big picture see cross-references Profit.
Occasional Xs: What economists really do (CLXX)
#Economics is #FailedFakeScience. #Economists NEVER understood what #Profit is and how the economic #System works. But these IQ-losers can explain why legalizing recreational marijuana boosts junk food sales. For more on #Junkonomics / #Craponomics see ⇒https://t.co/3LwhbU0NOY
— E.K-H (@AXECorg) February 13, 2024
Occasional Xs: The futile attempt to recycle Keynesianism (XLVI)
#Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. So, he messed up the #ParadigmShift from #MicroFoundations to #MacroFoundations. A. Truger/G. Horn still haven't got the memo. All one needs to know about #Keynesianism⇒https://t.co/TGTkAwX778 pic.twitter.com/i2rDXF0aXp
— E.K-H (@AXECorg) February 13, 2024
Occasional Xs: Paradigm Shift (XIV)
#Economics claims to be #Science but is NOT. The major approaches are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. The representative #Economist is NOT a #Scientist & therefore has to be canceled: “Scrap the lot and start again” (J. Robinson) pic.twitter.com/EU1rPxaCWw
— E.K-H (@AXECorg) February 13, 2024
February 12, 2024
Occasional Xs: The futile attempt to recycle Keynesianism (XLV)
#Economics is #FailedFakeScience. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #Clown in the political #CircusMaximus. #Keynesianism is NO exception.
— E.K-H (@AXECorg) February 12, 2024
Dirk Ehnts & Jan Schulz-Gebhard are #EconBlockers, i.e. violate the Code of Professional Conduct. pic.twitter.com/0yF2PIK6JG
For details of the big picture see cross-references Keynesianism.
Occasional Xs: The futile attempt to recycle Keynesianism (XLIV)
The problem with the #KeynesGesellschaft is NOT too few women, but too few brains. #Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. Bc of this initial blunder, #Keynesianism is scientifically worthless to this day. ⇒https://t.co/ATeWugUnOl pic.twitter.com/BEghqQJH5z
— E.K-H (@AXECorg) February 12, 2024
Occasional Xs: How it works (CXLIII)
#Bidenomics
— E.K-H (@AXECorg) February 12, 2024
The #Oligarchy in the US experienced a significant increase of #Profit over the past years. This is a direct result of macroeconomic policies. The #ProfitLaw implies #PublicDeficitIsPrivateProfit i.e. #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. pic.twitter.com/voM634HkzU
Occasional Xs: What economists really do (CLXIX)
#Economics #FailedFakeScience#War#EconomicWarfare
— E.K-H (@AXECorg) February 12, 2024
“The sick man can get well.” But only if he first gets rid of the barber surgeons who crippled and ruined him with the communicative support of #Academia.https://t.co/GJQFnsQ6V7
Occasional Xs: What economists really do (CLXVIII)
#Economics#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) February 12, 2024
“British Labour Party no longer fit for purpose.” Yes, and you helped to politically neutralize it back in 2019.
MMT: Corbynism is dead, British Labour is nexthttps://t.co/lGHZCCIFpw
Occasional Xs: Clueless economists / Science (LVIII)
Science ― in the original sense ― can be trusted. However, at some point in recent history, #Science has been hijacked & weaponized & perverted. This holds, in particular, for #Economics which is #FailedFakeScience & therefore cannot be trusted. pic.twitter.com/T3WRFDs1Ys
— E.K-H (@AXECorg) February 12, 2024
February 11, 2024
Occasional Xs: The futile attempt to recycle Marx (XXII)
#Econ
— E.K-H (@AXECorg) February 11, 2024
The history of economic thought is the history of scientific failure. #KarlMarx NEVER understood what #Profit is and how the economic #System works. To this day, the representative #Economist is NOT a #Scientist but an #AgendaPusher/#Clown in the political #CircusMaximus.
Occasional Xs: How it works (CXLII)
The #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. #Deflation ends if W & ρE go up. Should be easy for #China. pic.twitter.com/5RqlX81GRC
— E.K-H (@AXECorg) February 11, 2024
Occasional Xs: How it works (CXLI)
“… if the government just prints money and gives it to people (eg stimmy checks), that does not create value.” No, it creates macroeconomic #Profit. The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. pic.twitter.com/IvI4q9oy4W
— E.K-H (@AXECorg) February 11, 2024
Occasional Xs: How it works (CXL)
The US polity is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The #ProfitLaw implies #PublicDeficitIsPrivateProfit. Macroeconomic #Profit is produced by #DeficitSpendingMoneyCreation i.e. the growth of #PublicDebt which is owed by #WeThePeople. pic.twitter.com/ZDSK2dekdj
— E.K-H (@AXECorg) February 11, 2024
Occasional Xs: How it works (CXXXIX)
The GER #Economy ran successfully on cheap & reliable RUS gas. The idea to turn off the gas tap has been put forward by Mr. Habeck in the 2016 election campaign. He and the #ZeitenWende / #KillNordStream folks executed the plan after 2021. ⇒https://t.co/RcQyeIIZul
— E.K-H (@AXECorg) February 11, 2024
Occasional Xs: How it works (CXXXVIII)
#LearnRealEcon
— E.K-H (@AXECorg) February 11, 2024
The macroeconomic #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy i.e. exploding #PublicDebt is the ultimate cause of a rising #ProfitShare/falling #WageShare. ⇒https://t.co/ayHB1sHLjN pic.twitter.com/cVO7Y81cV6
February 10, 2024
Occasional Xs: The futile attempt to recycle Marx (XXI)
“Economics is the study of the economy, not the study of economists.” (Ricardo Reis)
— E.K-H (@AXECorg) February 10, 2024
The history of economic thought is the history of scientific failure. #KarlMarx NEVER understood what #Profit is & how the system works.
Marx todayhttps://t.co/GYsllSZfdn
Occasional Xs: How it works (CXXXVII)
#LearnRealEcon
— E.K-H (@AXECorg) February 10, 2024
The US #Economy runs on #Profit. The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, the policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Bigger is better, exploding #PublicDebt is best. It's #WeThePeople who owes the #Debt. pic.twitter.com/cItYdRiFxW
February 9, 2024
Occasional Xs: What economists really do (CLXVII)
#Economics#WarEconomy
— E.K-H (@AXECorg) February 9, 2024
Recently, the #Ampel seems to be getting a lot of direct/indirect support from US #Academia/#WallStreet e.g. Simon Jäger, Elga Bartsch, Isabella Weber, Ulrike Malmendier, Claudia Sahm. Even Joschka Fischer is back from Princeton. This is a worrying sign.
Occasional Xs: How it works (CXXXVI)
#Econ#Employment
— E.K-H (@AXECorg) February 9, 2024
The axiomatically correct macroeconomic #EmploymentLaw tells one that #Employment L INCREASES if the avg #WageRate W rises faster than the avg product #Price P & if the #ExpenditureRatio ρE> 1 i.e. with #DeficitSpendingMoneyCreation. ⇒https://t.co/gjD0JomQtf pic.twitter.com/GkF50qRkZ3
Occasional Xs: What economists really do (CLXVI)
With (consumptive) Gov #Expenditures G and #Taxes T there are 2 issues (1) the #Volume G=T & the #Composition of G, T & (2) the #Deficit G>T. The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. That's why the #Oligarchy's loudspeakers promote #DeficitSpendingMoneyCreation. pic.twitter.com/p4N6rt9s66
— E.K-H (@AXECorg) February 9, 2024