#Economics#FailedFakeScience#Austrianism
— E.K-H (@AXECorg) October 30, 2024
“Austrians literally say that the scientific method doesn't work on economics.” (Yang)
Austrians NEVER understood #Profit and how the economic #System works. They NEVER understood what #Science is all about. So, Austrian…
#Economics#FailedFakeScience#Austrianism
— E.K-H (@AXECorg) October 30, 2024
I am sure you can read and google, so help yourself. ⇒
Austrians, too, are either stupid or corrupt or bothhttps://t.co/TNGWeyNj1w
von Mises' Action Axiom (→ Wikipedia) refers to individual behavior. For methodological reasons (Fallacy of Composition), NOTHING follows from this axiom for the behavior of the #Economy as a whole. In particular, it does NOT follow that the economic system is self-adjusting.…
— E.K-H (@AXECorg) October 30, 2024
#LearnRealEconomics#Profit is the pivotal concept for the analysis of how the economy works. Without a correct profit theory, economics is vacuous. It is a unique fact of the history of economic thought that neither Classicals, nor Walrasians, nor Marshallians, nor Keynesians,…
— E.K-H (@AXECorg) October 31, 2024