#Economics#FailedFakeScience#Employment#Inflation
— E.K-H (@AXECorg) July 31, 2024
“Job gains have moderated, and the unemployment rate has moved up.”
Yeah, just as to be expected according to the true #EmploymentTheory.
The axiomatically correct macroeconomic #EmploymentLaw ⇓ tells one that #Employment L… pic.twitter.com/9UWwiz8VBm
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.
July 31, 2024
Occasional Xs: Clueless economists / Employment (VII)
July 29, 2024
Occasional Xs: How it works (CCXXI)
#HowItWorks
— E.K-H (@AXECorg) July 29, 2024
“Interest payments on the debt now exceed national defense spending.”
The #FreeMarketEconomy runs on profit. Macroeconomic profit is given by the axiomatically correct Profit Law / Balances Equation (I−Sm)+(G−T)+(X−M)−(Qm−Yd)≐0 (which consists of precisely…
Occasional Xs: What economists really do (CCXCV)
#WhatIsEconomics#FailedFakeScience#DisInfoTainment
— E.K-H (@AXECorg) July 29, 2024
Economics is about how the #Economy works. It is a #SystemsScience and NOT a #SocialScience. #Economists have been messing this up from Adam Smith to EconLib.
The major approaches (#Walrasianism, #Keynesianism, #Marxianism,…
Occasional Xs: What economists really do (CCXCIV)
#Economics#FailedFakeScience#PsySoc
— E.K-H (@AXECorg) July 29, 2024
Economics is about how the #Economy works. It is a #SystemsScience and NOT a #SocialScience. #Economists have been messing this up from Adam Smith to the LSE.
The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism,…
July 28, 2024
Occasional Xs: What economists really do (CCXCIII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 28, 2024
'Marxian economics was an essentially unsuccessful attempt to understand Capitalism.'
The History of Economic Thought is the history of scientific failure. The major approaches (#Walrasianism, #Keynesianism,…
July 27, 2024
Occasional Xs: How it works (CCXX)
#HowItWorks
— E.K-H (@AXECorg) July 27, 2024
“The free market is not just the best way to produce wealth, it is the only way consistent with individual freedom.”
The #FreeMarketEconomy runs on profit. Macroeconomic profit is given by the axiomatically correct Profit Law / Balances Equation…
July 26, 2024
Occasional Xs: The futile attempt to recycle Austrianism (XXXVII)
#Economics#FailedFakeScience#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and their derivatives are mutually contradictory and axiomatically false and materially/formally inconsistent and ALL got #Profit wrong. When the foundational concepts of the subject matter… pic.twitter.com/kA0DK3XszW
— E.K-H (@AXECorg) July 26, 2024
July 25, 2024
Occasional Xs: What economists really do (CCXCII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 25, 2024
'Economics is largely the process of ascribing everything good in the universe to the working of #FreeMarkets and blaming everything bad on the #State ― regardless of what the facts may be.' (paraphrasing Thomas…
Occasional Xs: Geoeconomics/geopolitics is not the strong suit of psychologists/philosophers
#GeoPolitics#GeoEconomics
— E.K-H (@AXECorg) July 25, 2024
Dear psychologists and philosophers,
The #Kanzler/#VizeKanzler's lack of readiness to inform about the current status of the #NordStream investigations has NOTHING to do with #Vertrauen/#Trust or #StaatsWohl/#CommonWeal but with the lack of… pic.twitter.com/Y0csflT9Aj
Occasional Xs: How it works (CCXXXIII)
#LearnRealEconomics
— E.K-H (@AXECorg) July 25, 2024
The #FreeMarketEconomy runs on profit. But to this day, #Economists get profit wrong. When the foundational concepts of the subject matter are inconsistent the whole analytical superstructure is scientifically worthless. So, the first thing to realize is that…
Occasional Xs: What economists really do (CCXCI)
#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 25, 2024
“School Boy's Theory of History: It's just one damn thing after another.” (Professor of Applied Economics Steve Hanke)
The History of Economic Thought is the history of scientific failure. The major approaches…
Occasional Xs: How it works (CCXXXII)
#LearnRealEconomics
— E.K-H (@AXECorg) July 25, 2024
“The Biden - Harris Administration has a remarkable record.” (L. H. Summers)
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/1YDvt38ePS
July 24, 2024
Occasional Xs: The futile attempt to recycle Ricardo (VIII)
#Economics#FailedFakeScience#Profit
— E.K-H (@AXECorg) July 24, 2024
The history of economic thought is the history of scientific failure and it goes from the founding fathers onward to this day.
Ricardo NEVER understood what #Profit is and how the economic #System works. When the foundational concepts of…
Occasional Xs: Clueless economists / Science (XCVII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 24, 2024
The history of economic thought is the history of scientific failure. The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and their derivatives) are mutually contradictory & axiomatically false & materially/formally…
Occasional Xs: The futile attempt to recycle Keynesianism (LVIII)
#Economics#FailedFakeScience#Keynesianism
— E.K-H (@AXECorg) July 24, 2024
The #FreeMarketEconomy runs on #Profit. But to this day, #Economists get profit wrong. When the foundational concepts of the subject matter are inconsistent the whole analytical superstructure is scientifically worthless.#Keynes got…
Occasional Xs: What economists really do (CCXC)
#Economics#SchuldenBremse
— E.K-H (@AXECorg) July 24, 2024
The #Economy 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 will always argue FOR… pic.twitter.com/KVt8jMywyK
Occasional Xs: The futile attempt to recycle Milton Friedman (XVIII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 24, 2024
'I have long been in favor of ABOLISHING economics … on the whole, it has a VERY POOR record, it's done far more HARM than good.'
For 200+ years, economics claims to be #Science but is NOT. The major approaches (#Walrasianism, #Keynesianism,… pic.twitter.com/HSNy9TdQhn
July 23, 2024
Occasional Xs: How it works (CCXXXI)
#Capitalism
— E.K-H (@AXECorg) July 23, 2024
“Capitalism is when people trade freely and keep what they earn.” (Patrick Carroll )
The #FreeMarketEconomy runs on profit. But to this day, #Economists get profit wrong. When the foundational concepts of the subject matter are inconsistent the whole analytical…
Occasional Xs: Clueless economists / Science (XCVI)
#Economics
— E.K-H (@AXECorg) July 23, 2024
“Economists are quick to speak of ‘market failure’, …, but a greater threat comes from ‘government failure‘.”
The greatest threat, though, comes from their own #ScienceFailure.
Economics claims to be science but is NOT. #Economists NEVER understood what #Profit is… pic.twitter.com/Mbc1benuxs
July 22, 2024
Occasional Xs: What economists really do (CCLXXXIX)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 22, 2024
“The teaching of economics — captured by a small and dangerous sect.”
Economics claims to be science but is NOT. #Economists NEVER understood what #Profit is and how the economic #System works. So, their #PolicyGuidance has NEVER had valid…
Occasional Xs: How it works (CCXXX)
#LearnRealEconomics
— E.K-H (@AXECorg) July 22, 2024
The #FreeMarketEconomy runs on #Profit. But to this day, #Economists get profit wrong. When the foundational concepts of the subject matter are inconsistent the whole analytical superstructure is scientifically worthless.#Keynes got macroeconomic profit…
Occasional Xs: The futile attempt to recycle Milton Friedman (XVII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 22, 2024
Friedman never understood how the profit- and price mechanism works. He never rose above the level of soapbox economics. In the #Sciences he does NOT count, but he is still appreciated as an #AgendaPusher /…
Occasional Xs: Forget supply-demand-equilibrium (VII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 22, 2024
“The concept of a 'just' or 'fair' price is devoid of any scientific meaning; …” (Ludwig von Mises)
True, (because 'just' belongs to #Ethics) but the concept of #SupplyDemandEquilibrium, too, is proto-scientific…
July 20, 2024
Occasional Xs: Clueless economists / Profit (XL)
#Economics#FailedFakeScience#Profit
— E.K-H (@AXECorg) July 20, 2024
“Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production.” (Joseph A. Schumpeter)
The #FreeMarketEconomy runs on profit. But to this day, #Economists get profit wrong. When the foundational…
July 19, 2024
Occasional Xs: What economists really do (CCLXXXIII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 19, 2024
“From Mises to David Friedman, libertarian thinkers can help us balance a principled stance against war with the need to protect individual liberty and liberal civilization from existential threats.”
Economics claims to be science but is NOT.…
Occasional Xs: The history of economic thought is the history of scientific failure (XXIV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 19, 2024
The history of economic thought is the history of scientific failure. The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and their derivatives) are mutually contradictory & axiomatically false & materially/formally…
July 18, 2024
Occasional Xs: What economists really do (CCLXXXII)
#HowItWorks
— E.K-H (@AXECorg) July 18, 2024
The #FreeMarketEconomy runs on profit. This is the key, NOT exchange/cooperation.
What is profit? Macroeconomic profit is given by the axiomatically correct Profit Law / Balances Equation (I−Sm)+(G−T)+(X−M)−(Qm−Yd)≐0 (which consists of precisely measurable…
Occasional Xs: How it works (CCXXIX)
#Profit#HowItWorks
— E.K-H (@AXECorg) July 18, 2024
The #FreeMarketEconomy runs on profit.
What is profit? Macroeconomic profit is given by the axiomatically correct Profit Law / Balances Equation (I−Sm)+(G−T)+(X−M)−(Qm−Yd)≐0 (which consists of precisely measurable magnitudes).
The #ProfitLaw implies…
Occasional Xs: What economists really do (CCLXXXI)
#Economics#FailedFakeScience#PsySoc
— E.K-H (@AXECorg) July 18, 2024
To this day, #Economists do not understand what #Profit is and how the economic #System works. What they have figured out in 200+ years are psycho-social platitudes like this: “Powerful government tends to draw into it people with bloated…
July 17, 2024
Occasional Xs: The futile attempt to recycle Milton Friedman (XVI)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 17, 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
Reminder: The most harm of all is done when #Science…
Occasional Xs: What economists really do (CCLXXXI)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 17, 2024
“It is time for national and European security to take precedence over fiscal self-restraint in Germany. A serious program of rearmament might even pay for itself.”
Many German #Economists claim that investments in the country's future… pic.twitter.com/DVLT6CGoru
Occasional Xs: The futile attempt to recycle Adam Smith (LXX)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 17, 2024
Since the founding fathers, #Economists have claimed to be doing science but they did NOT. They disguised political #AgendaPushing as #Science or #EnlightenedPhilosophy or #ProgressiveEthics or… pic.twitter.com/VZwTmqK0Zi
July 16, 2024
Occasional Xs: The futile attempt to recycle Adam Smith (LXIX)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 16, 2024
Since the founding fathers, #Economists have claimed to be doing science but they did NOT. What they really did was to disguise political #AgendaPushing as #Science or #EnlightenedPhilosophy or #ProgressiveEthics or #EducationOfTheMasses or… pic.twitter.com/b76bUB6hwS
Occasional Xs: The futile attempt to recycle Milton Friedman (XV)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 16, 2024
The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies #PublicDeficitIsPrivateProfit. So, the #Oligarchy thrives on #DeficitSpendingMoneyCreation = #GrowingPublicDebt.…
Occasional Xs: Clueless economists / Profit (XXXIX)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 16, 2024
“Nothing contributes so much to the prosperity and happiness of a country as high profits.” (David Ricardo)
The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies… pic.twitter.com/wRoPg5kDrc
Occasional Xs: Scrap the EconNobel (XV)
#Economics#NobelPrize#Economics has always been #FailedFakeScience, so the #EconNobel has NO scientific significance but is an #Incentive/#Reward with which the #Oligarchy controls #Academia.
— E.K-H (@AXECorg) July 16, 2024
The representative #Economist is NOT, and NEVER has been, a competent #Scientist but…
Occasional Xs: Clueless economists / Profit (XXXVIII)
#Economics#FailedFakeScience#Profit
— E.K-H (@AXECorg) July 16, 2024
“When words lose their meaning, people lose their liberty. ” (Confucius)
Economics claims to be #Science but is NOT. The major approaches are mutually contradictory & axiomatically false & materially/formally inconsistent & ALL got #Profit… pic.twitter.com/bFM39yxm0S
July 15, 2024
Occasional Xs: Clueless economists / Profit (XXXVII)
#Economics#FailedFakeScience.
— E.K-H (@AXECorg) July 15, 2024
“PROFIT is a signal which tells us what we MUST do in order to SERVE people whom we do not know.”
The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies #PublicDeficitIsPrivateProfit. So, the #Oligarchy…
For more about profit see cross-references.
Occasional Xs: Clueless economists / Science (XCV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 15, 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 & materially/formally inconsistent &… pic.twitter.com/WQO6QsvmcW
July 13, 2024
Occasional Xs: How it works (CCXXVIII)
#LearnRealEconomics
— E.K-H (@AXECorg) July 13, 2024
“One of the things the government can’t do is run anything. The only things our government runs are the post office and the railroads, and both of them are bankrupt.” (Lee Iacocca)
The US Economy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd…
Occasional Xs: What economists really do (CCLXXX)
#LearnRealEconomics
— E.K-H (@AXECorg) July 13, 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…
Occasional Xs: What economists really do (CCLXXIX)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 13, 2024
“70% of Americans have said inflation is the top problem today. …” “But Paul Krugman, Justin Wolfers, Greg Ip, Jonathan Chait, Barry Sternlicht, Bill Ackman, Mohamed El-Erian and Janet Yellen say it's not.”
For…
Occasional Xs: Clueless economists / Inflation (XXVII)
#LearnRealEconomics
— E.K-H (@AXECorg) July 13, 2024
“The most important thing to remember is that inflation is not an act of God, …” (Ayn Rand)
From the macroeconomic #LawOfSupplyAndDemand ⇓ the intelligent layperson can immediately conclude that #Inflation rarely happens by accident but has to be… pic.twitter.com/pwSy0S61SC
July 12, 2024
Occasional Xs: How it works (CCXXVII)
#LearnRealEconomics
— E.K-H (@AXECorg) July 12, 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…
July 11, 2024
Occasional Xs: What economists really do (CCLXXVIII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 11, 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 & materially/formally inconsistent &…
Occasional Xs: What economists really do (CCLXXVII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 11, 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 & materially/formally inconsistent &…
Occasional Xs: How it works (CCXXVI)
#LearnRealEconomics#SchuldenBremse#DebtBrake
— E.K-H (@AXECorg) July 11, 2024
The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies #PublicDeficitIsPrivateProfit.#PrivateFinancialWealth grows with #PublicDebt. At the end of the day, #WeTheOligarchy owns the…
Occasional Xs: How it works (CCXXV)
#LearnRealEconomics#Crisis#BreakDown
— E.K-H (@AXECorg) July 11, 2024
“But the fact that we’re a pretty well functioning country with such massive debt is a testament to the power and world’s acceptance of the US Economy.”
The US Economy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies… pic.twitter.com/as1HhaspwL
July 10, 2024
Occasional Xs: What economists really do (CCLXXVI)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 10, 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 & materially/formally inconsistent &… pic.twitter.com/QFkS4f9iEn
July 9, 2024
Occasional Xs: How it works (CCXXIV)
#LearnRealEconomics#Crisis#BreakDown
— E.K-H (@AXECorg) July 9, 2024
“When looking at nations in crisis around the world, the common thread is excessive government spending.”
The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies #PublicDeficitIsPrivateProfit. So, the…
Occasional Xs: What economists really do (CCLXXV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 9, 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 & materially/formally inconsistent &…
July 8, 2024
Occasional Xs: How it works (CCXXIII)
#LearnRealEconomics#PublicDebt#BreakDown
— E.K-H (@AXECorg) July 8, 2024
“Government spending is bankrupting America.” (Elon Musk)
It's deficit spending, Elon, not government spending as such.
The #MarketEconomy runs on #Profit. The macroeconomic #ProfitLaw implies #PublicDeficitIsPrivateProfit. So,…
Occasional Xs: How it works (CCXXII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 8, 2024
“Huh, OK—so what do you think explains rising prices?” “Greed.”
The axiomatically correct macroeconomic #LawOfSupplyAndDemand ⇓ tells one how ― in the elementary case ― the avg #Price P moves under the condition of #MarketClearing as a function of… pic.twitter.com/ClPjFV2myp
Occasional Xs: Clueless economists / Science (XCIV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 8, 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 & materially/formally inconsistent &… pic.twitter.com/UEzLksHKyc
Occasional Xs: What economists really do (CCLXXV)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 8, 2024
“You hear us say, 'Incentives matter!' all the time.” (Econlib)
Yes, this is a psychological/behavioral platitude that has been known and applied since ancient times in #AnimalTraining (→ Wikipedia) and for…
Occasional Xs: What economists really do (CCLXXIV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 8, 2024
“It is not money but the volume of goods and services which determines whether a country is poverty stricken or prosperous.” (Thomas Sowell)
Among #Economists, this platitude is regarded as profound insight and the fruit of 200+ years of diligent…
July 7, 2024
Occasional Xs: How it works (CCXXI)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 7, 2024
“There is no art which one government sooner learns of another than that of draining money from the pockets of the people.” (Adam Smith)
It is the other way around.
The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw…
Occasional Xs: How it works (CCXX)
#LearnRealEconomics#Money
— E.K-H (@AXECorg) July 7, 2024
That money is created #OutOfNothing is NOT the point. The crucial point is whether money is injected on the left side of the business sector's national account in the form of wages or on the right side in the form of additional nominal demand i.e.…
July 6, 2024
Occasional Xs: What economists really do (CCLXXIII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 6, 2024
“Rudi and I are well known for our romantic characters.”
You are known as #AgendaPushers / #Clowns in the political #CircusMaximus.
Rudi Bachmann is an #EconBlocker. That's all one needs to know about his romantic character. pic.twitter.com/RlphDmmxDj
Occasional Xs: What economists really do (CCLXXII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 6, 2024
Ludwig von Mises NEVER understood what #Profit is and how the economic #System works. He was not a competent #Scientist but mainly occupied producing populist slogans about #Liberty.
Reminder: The representative…
July 5, 2024
Occasional Xs: What economists really do (CCLXXI)
#Economics#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) July 5, 2024
MMT's Bill Mitchell in 2019 ⇒
MMT: Corbynism is dead, British Labour is nexthttps://t.co/lGHZCCIFpw
Bill Mitchell five years later:
“Jeremy Corbyn convincingly retains his seat in Islington North which is an embarrassment for the…
Occasional Xs: How it works (CCXIX)
#GermanYouth#LearnRealEconomics
— E.K-H (@AXECorg) July 4, 2024
As a matter of principle, the expansion of the welfare state, education, climate protection, healthcare, domestic security, etc. can all be realized with a #BalancedBudget by increasing taxes or reducing ― for example ― #MilitarySpending. This…
July 4, 2024
Occasional Xs: How it works (CCXVIII)
#LearnRealEconomics#Instability
— E.K-H (@AXECorg) July 4, 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…
Occasional Xs: What economists really do (CCLXX)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) July 4, 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 & materially/formally inconsistent &… pic.twitter.com/XOrfHCZ0fL
July 3, 2024
Occasional Xs: Paradigm Shift (XXXIII)
#Economics#FailedFakeScience,#MacroFoundations
— E.K-H (@AXECorg) July 3, 2024
“...to a grouchy old guy like me, macro no longer seems progressive.”#Keynes got macroeconomic #Profit wrong because he was too stupid for elementary #Algebra. So, he messed up the #ParadigmShift from #MicroFoundations to… pic.twitter.com/hWD9b0pL4Y
July 2, 2024
Occasional Xs: What economists really do (CCLXIX)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) July 2, 2024
“I am disappointed with mainstream US media, including the New York Times.”
I am disappointed with mainstream economics, including Daron Acemoglu.
For 200+ years, economics claims to be #Science but is NOT. The… pic.twitter.com/XD6SCVjNgu
Occasional Xs: How it works (CCXVII)
#HowItWorks
— E.K-H (@AXECorg) July 2, 2024
“… but as members of Congress we have no right to appropriate a dollar of the public money.” (Davy Crockett)
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.…
July 1, 2024
Occasional Xs: What economists really do (CCLXVIII)
#Economics#FailedFakeScience#HallOfShame
— E.K-H (@AXECorg) June 29, 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 and axiomatically false and materially/formally… pic.twitter.com/NPzRMPBs8r