#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) June 28, 2024
“It does economics a disservice to be obviously partisan.”
The Nobel Prize has been corrupted/weaponized long ago.#Economics has always #FailedFakeScience, so the #EconNobel has NO scientific significance but is…
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.
June 28, 2024
Occasional Xs: What economists really do (CCLXVII)
Occasional Xs: Clueless economists / Science (XCIII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) June 28, 2024
“… political economy and social philosophy would be better practiced if located within an intersection of arts, humanities and social science …” (Peter Boettke)
Economics would be better practiced if located in…
June 27, 2024
Occasional Xs: Politics corrupts science, always and everywhere (II)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) June 27, 2024
“16 Nobel economists see a Trump inflation bomb. … The Nobel laureates are lending their academic prestige to a political argument the Biden administration has been making for weeks …”
For 200+ years, economics claims to be #Science but is NOT.… pic.twitter.com/EcMOJ4EQQM
Related 'The trouble with economics prizes'
Occasional Xs: The futile attempt to recycle Austrianism (XXXVI)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) June 27, 2024
Economics is about how the #Economy works. It is a #SystemsScience and NOT a #SocialScience. #Economists have been messing this up since Adam Smith.
The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and their…
June 26, 2024
Occasional Xs: Economists’ eternal problem with methodology (VIII)
#Economics#FailedFakeScience#PsySoc
— E.K-H (@AXECorg) June 26, 2024
Economics is about how the #Economy works. It is a #SystemsScience and NOT a #SocialScience. #Economists have been messing this up since Adam Smith.
The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and their…
June 25, 2024
Occasional Xs: Paradigm Shift (XXXII)
#Economics#FailedFakeScience#Reset
— E.K-H (@AXECorg) June 25, 2024
“If we continue down this path, Chinese economics will become a colony of US economics.”
Since the founding fathers, #Economists have claimed to be doing science but they did NOT. What they did was to disguise political #AgendaPushing as… pic.twitter.com/XtYe2x4Gq3
Occasional Xs: The futile attempt to recycle MMT (CXIII)
#Economics#FailedFakeScience#MMT
— E.K-H (@AXECorg) June 25, 2024
The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies #PublicDeficitIsPrivateProfit. So, the #OnePercenters a.k.a. #Oligarchy a.k.a. #Elite, and their loudspeakers in #Parliament / #Academia / #Media… pic.twitter.com/NGkDXpFMZU
June 24, 2024
Occasional Xs: The futile attempt to recycle Keynesianism (LVII)
#Economics
— E.K-H (@AXECorg) June 24, 2024
Since the founding fathers, #Economists have claimed to be doing science but they did NOT. What they did was to disguise political #AgendaPushing as #Science or #EnlightenedPhilosophy or #ProgressiveEthics or #EducationOfTheMasses or #WorldImprovement.
Economics has… pic.twitter.com/KczE1fVNnF
June 23, 2024
Occasional Xs: What economists really do (CCLXVI)
#Economics
— E.K-H (@AXECorg) June 23, 2024
“I’m often reminded that most people don’t really know what economists actually do.”
That's pretty obvious. #Economics is #FailedFakeScience. The representative #Economist is NOT a #Scientist but an #AgendaPusher / #UsefulIdiot / #Clown in the political…
Occasional Xs: What economists really do (CCLXV)
#FailedFakeScience#Economics claims to be #Science but is NOT. The major approaches are mutually contradictory & axiomatically false & materially/formally inconsistent & ALL got #Profit wrong. When the foundational concepts of the subject matter are inconsistent the whole… pic.twitter.com/zTmv7Jdd0Y
— E.K-H (@AXECorg) June 23, 2024
Occasional Xs: The representative economist is not a scientist but an agenda-pusher (XIV)
#Economics#FailedFakeScience#Confusion#Deception#Inversion
— E.K-H (@AXECorg) June 23, 2024
The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd † implies #PublicDeficitIsPrivateProfit. So, the #OnePercenters a.k.a. #Oligarchy a.k.a. #Elite, and their loudspeakers in…
June 22, 2024
Occasional Xs: Economics curriculum ― the transmutation of plain morons to graduate morons (XI)
#Economics#Curriculum
— E.K-H (@AXECorg) June 22, 2024
Since the founding fathers, #Economists have claimed to be doing science but they did NOT. What they did was to disguise political #AgendaPushing as #Science or #EnlightenedPhilosophy or #ProgressiveEthics or #EducationOfTheMasses or #WorldImprovement.…
June 21, 2024
Occasional Xs: How it works (CCXVI)
#HowItWorks
— E.K-H (@AXECorg) June 21, 2024
“Congratulations to Powell & Co. for being the first Fed Board of Governors to lose $176 billion …”
The U.S. economy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies that the greater part is produced by #DeficitSpendingMoneyCreation. The…
June 20, 2024
Occasional Xs: The futile attempt to recycle Keynesianism (LVI)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) June 20, 2024
The history of economic thought is the history of scientific failure. #Keynes got macroeconomic #Profit wrong because he was too stupid for elementary #Algebra. So, he messed up #MacroEconomics and never understood how the economic #System works.… pic.twitter.com/Gz1oZY4k2J
Occasional Xs: Clueless philosophers (I)
#LearnRealEconomics
— E.K-H (@AXECorg) June 20, 2024
The correct term for the USA/EUR polity is NOT #Democracy but #Oligarchy with national/US/EUR key institutions like #Parliament / #Treasury / #CentralBank / #BigBusiness as integral parts. This institutional setup thrives on #DeficitSpendingMoneyCreation. The…
Occasional Xs: Clueless economists / Science (XCII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) June 19, 2024
For 200+ years, economics claims to be #Science but is NOT. The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and their derivatives) are mutually contradictory & axiomatically false &… pic.twitter.com/VmtVoi7BOR
June 17, 2024
Occasional Xs: The futile attempt to recycle MMT (CXII)
#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) June 17, 2024
“What has MMT ever done for us?”
The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies #PublicDeficitIsPrivateProfit, so the MMT policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the Oligarchy. It holds #PublicDeficitIsPrivateProfit.…
Occasional Xs: The futile attempt to recycle MMT (CXI)
#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) June 17, 2024
The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit, so the MMT policy of #DeficitSpendingMoneyCreation is a #FreeLunch for the Oligarchy. It holds #PublicDeficitIsPrivateProfit.
Accordingly,… pic.twitter.com/yvNVMF8D3Z
June 13, 2024
Occasional Xs: How it works (CCXV)
#LearnRealEconomics#SchuldenBremse
— E.K-H (@AXECorg) June 13, 2024
Also part of the truth. The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies #PublicDeficitIsPrivateProfit. So, the 1%ers a.k.a. #Oligarchy a.k.a. #Elite and their loudspeakers in #Parliament /…
June 12, 2024
Occasional Xs: How it works (CCXV)
#LearnRealEconomics
— E.K-H (@AXECorg) June 12, 2024
The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies #PublicDeficitIsPrivateProfit. So, the 1%ers a.k.a. #Oligarchy a.k.a. #Elite and their loudspeakers in #Parliament / #Academia / #Media should always argue FOR… pic.twitter.com/zph6880aJK
Also at Andreas Audretsch
Also at
June 11, 2024
Occasional Xs: How it works (CCXIV)
#Economics#Science#FörderMittel
— E.K-H (@AXECorg) June 11, 2024
The correct term for the GER polity is NOT #Democracy but #Oligarchy with national/European key institutions like #Parliament / #Treasury / #CentralBank / #BigBusiness as integral parts. This institutional setup thrives on…
Occasional Xs: Clueless economists / Breakdown (IV)
#Economics
— E.K-H (@AXECorg) June 11, 2024
Since the founding fathers, #Economists have claimed to be doing science but they did NOT. What they did was to disguise political #AgendaPushing as #Science or #EnlightenedPhilosophy or #ProgressiveEthics or #EducationOfTheMasses or #WorldImprovement.
Economics has…
June 10, 2024
Occasional Xs: Economics is NOT a social science but a systems science (X)
#Economics#FailedFakeScience#PsySoc
— E.K-H (@AXECorg) June 10, 2024
Economics is about how the #Economy works. It is a #SystemsScience and NOT a #SocialScience. #Economists have been messing this up since Adam Smith.
The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and their…
Occasional Xs: How it works (CCXIII)
#LearnRealEconomics
— E.K-H (@AXECorg) June 10, 2024
The U.S. economy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies that the greater part is produced by #DeficitSpendingMoneyCreation. The #FreeMarketEconomy is continuously saved from #BreakDown by #Fed / #Treasury i.e. the #State's… pic.twitter.com/2TvVMPJ9Ng
June 9, 2024
Occasional Xs: Clueless economists / Phillips Curve (XII)
#Economics#FailedFakeScience#Employment#Inflation
— E.K-H (@AXECorg) June 9, 2024
The axiomatically correct macroeconomic #EmploymentLaw ⇓ tells one that #Employment L decreases (unemployment increases) if the avg product price P rises faster than the avg wage rate W. So, there has never been a trade-off… pic.twitter.com/dBAaH5u0i8
Occasional Xs: What economists really do (CCLXIV)
#Economics#FailedFakeScience#Economists#StudidOrCorruptorBoth
— E.K-H (@AXECorg) June 9, 2024
“And I think in economics, those of us who love economics, we fell in love and we actually had this emotional attraction to economics, but it was in a way that was probably different than most other people.…
June 6, 2024
Occasional Xs: The role of narratives and storytelling in economics (II)
#Economics#FailedFakeScience#DisInfoTainment
— E.K-H (@AXECorg) June 6, 2024
“Disinformation isn't new, but its scale and impact are. Can we navigate a world where anyone can spread lies easily?”
For 200+ years, economics claims to be #Science but is NOT. The major approaches (#Walrasianism, #Keynesianism,…
June 5, 2024
Occasional Xs: Clueless economists / Profit (XXXVI)
#Economics#FailedFakeScience#Keynes got macroeconomic #Profit wrong because he was too stupid for elementary #Algebra. So, he messed up #MacroEconomics and never understood how the economic #System works. Similarly with #Kalecki and #Marx. For detail see ⇒
— E.K-H (@AXECorg) June 5, 2024
Keynesianism is…
Occasional Xs: How it works (CCXII)
#Economics#Politics
— E.K-H (@AXECorg) June 5, 2024
“Our economy resembles capitalism as much as our political system resembles democracy – hardly at all.”
The correct term for the U.S. polity is NOT #Democracy but #Oligarchy.
The U.S. economy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd…
Occasional Xs: Clueless economists / Philosophy (V)
#Economics#Philosopy#DisInfoTainment
— E.K-H (@AXECorg) June 5, 2024
The correct term for the U.S. polity is NOT #Democracy but Oligarchy with #Congress / #Treasury / #Fed / #WallStreet / #BigBusiness as integral parts. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies #PublicDeficitIsPrivateProfit. So,…
Occasional Xs: The futile attempt to recycle Keynesianism (LV)
#Economics#FailedFakeScience#MacroFoundations#Keynesianism#Keynes got macroeconomic #Profit wrong because he was too stupid for elementary #Algebra. So, he messed up the #ParadigmShift from #MicroFoundations to #MacroFoundations. Because of this initial blunder, the whole of… pic.twitter.com/lEZMe9nA80
— E.K-H (@AXECorg) June 5, 2024
Also at Philippa Sigl-Glöckner
Occasional Xs: What economists really do (CCLXIII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) June 5, 2024
“It is not difficult to sympathize with …” Schumpeter's disgust at the doings of the representative economist.
To this day, the #RepresentativeEconomist has had NO idea of what #Profit is and how the economic… pic.twitter.com/4PHNxSiuHU
June 4, 2024
Occasional Xs: How it works (CCXI)
#Economics#Academia#Science
— E.K-H (@AXECorg) June 4, 2024
The U.S. polity is an Oligarchy with #Congress / #Treasury / #Fed / #WallStreet / #BigBusiness as integral parts. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch…
Occasional Xs: Clueless economists / Inflation (XXVI)
#Economics#FailedFakeScience#Inflation
— E.K-H (@AXECorg) June 4, 2024
“… if any spiral is to be discussed, it may be more aptly labelled a price–wage spiral rather than a wage–price one”
Actually there are 3 spirals to be discussed i.e. w>p, w<p, w=p.
Attention ― there are THREE types of inflation…
June 3, 2024
Occasional Xs: Clueless economists / Inflation (XXV)
#Economics#FailedFakeScience#Inflation
— E.K-H (@AXECorg) June 3, 2024
Why is “inflation is a tough cookie to forecast.”?
The underlying problem is this: “In order to tell the politicians and practitioners something about causes and best means, the economist needs the true theory or else he has not much… pic.twitter.com/kJzh5yhcJ5
Occasional Xs: How it works (CCX)
#LearnRealEconomics
— E.K-H (@AXECorg) June 3, 2024
“Government net transfers (aka the "deficit) are falling year-over-year.”
No.
The U.S. economy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies that the greater part is produced by #DeficitSpendingMoneyCreation. The economy is… pic.twitter.com/TwjI4Dxj9w
Occasional Xs: What economists really do (CCLXII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) June 3, 2024
The correct term for the GER polity is NOT #Democracy but #Oligarchy with national/European key institutions like #Parliament / #Treasury / #CentralBank / #BigBusiness as integral parts. This institutional setup thrives on… pic.twitter.com/kG6Km21OUz
Also at Gustav Horn.
Occasional Xs: Clueless economists / Science (XCII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) June 3, 2024
Since the founding fathers, #Economists have claimed to be doing science but they did NOT. What they did was to disguise political #AgendaPushing as #Science or #EnlightenedPhilosophy or #ProgressiveEthics or…
June 2, 2024
Occasional Xs: What economists really do (CCLXI)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) June 2, 2024
Since the founding fathers, #Economists have claimed to be doing science but they did NOT. What they did was to disguise political #AgendaPushing as #Science or #EnlightenedPhilosophy or #ProgressiveEthics or… pic.twitter.com/qRJW3vErix
Occasional Xs: How it works (CCIX)
#HowItWorks
— E.K-H (@AXECorg) June 2, 2024
“Please remind me, why were profits margins so elevated during the pandemic?”
The U.S. economy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies that the greater part is produced by #DeficitSpendingMoneyCreation. The so-called #FreeMarketEconomy…
Occasional Xs: Clueless economists / Science (XCI)
#Economics#DisInfoTainment
— E.K-H (@AXECorg) June 2, 2024
Since the founding fathers, #Economists have claimed to be doing science but they did NOT. What they did was to disguise political #AgendaPushing as #Science or #EnlightenedPhilosophy or #ProgressiveEthics or #EducationOfTheMasses or…
June 1, 2024
Occasional Xs: Paradigm Shift (XXXI)
#Economics#FailedFakeScience#MacroFoundations#Keynes got macroeconomic #Profit wrong because he was too stupid for elementary #Algebra. So, he messed up the #ParadigmShift from #MicroFoundations to #MacroFoundations. Because of this initial blunder, the whole of (#Micro &… pic.twitter.com/yBtvrM5RN1
— E.K-H (@AXECorg) June 1, 2024
Occasional Xs: The futile attempt to recycle Adam Smith (LXVIII)
#Economics
— E.K-H (@AXECorg) June 1, 2024
Reminder: 'SELF-COMMAND, PRIDE, AND VANITY' is the subject matter of #Psychology and NOT of #Economics. Adam Smith messed that up. And this is why economics is #FailedFakeScience.
The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and…