#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) April 7, 2025
Alex Tabarrok is one of those people who still have not realized that supply-demand-equilibrium analysis is manifest proto-scientific garbage. By painting and interpreting the SS-DD cross, he misses the exact point of Mr. Trump’s economic policy… pic.twitter.com/Sa9GKqWEdb
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.
April 7, 2025
Occasional Xs: How it works (CCCXLXIII)
Occasional Xs: The representative economist is not a scientist but an agenda-pusher (XV)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) April 7, 2025
“Nobody can be a great economist who is only an economist—and I am even tempted to add that the economist who is only an economist is likely to become a nuisance if not a positive danger.” (Friedrich Hayek)
“Nobody can be a great economist who does… pic.twitter.com/j0jg1iTkMa
April 6, 2025
Occasional Xs: Paradigm Shift (XLXXII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) April 6, 2025
“ … what are 20 canonical models budding economists should master …?” (Anup Malani)
I’ll start us off new school.
For 200+ years, economics has claimed to be Science but never was. The major approaches (Walrasianism, Keynesianism, Marxianism,… pic.twitter.com/pgLdjMm6nO
April 5, 2025
Occasional Xs: How it works (CCCXLXII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) April 5, 2025
“Taxpayer money is absolutely never a thing. Taxes destroy money. Spending creates new money.” (S.D. Grumbine)
As the simplified national accounts below ⇓ show, in period t the government spends G into the economy and this increases their… pic.twitter.com/CxxhGUBAlR
April 3, 2025
Occasional Xs: The futile attempt to recycle MMT (CXLXII)
#MMT#BadScienceBadPolicyBadPeople
— AXEC (@EgmontHandtke) April 3, 2025
“More and more people are learning how Congress funds the nation. More and more are seeing the taxpayer myths for what they are. Nonsense …” (Stephanie Kelton)
As the simplified national accounts below ⇓ show, the government spends G into… pic.twitter.com/ZkkCJlPfoV
Occasional Xs: Paradigm Shift (XLXXI)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) April 3, 2025
“In social sciences, we should not celebrate authors who have written mathematical treatises on unidimensional individuals, out of history, who have never existed, but authors — regardless of their ideology — who like Schumpeter, Polanyi, Hayek,… pic.twitter.com/T3XdounAOk
Occasional Xs: Time to get the axioms of economics right (IV)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) April 3, 2025
“The first book is a perfect axiomatic statement—elegance like Euclid. The second has one of the most stunning theorems—originality like Archimedes.” (Kaushik Basu)
Economics is about how the economy works. It is a systems science and NOT a social… pic.twitter.com/tviO5gwJlH
For details see cross-references Axiomatization.
Occasional Xs: The futile attempt to recycle Keynesianism (LXXIII)
#Economics#AllYouNeedToKnow
— E.K-H (@AXECorg) April 2, 2025
Keynes got macroeconomic #Profit wrong because he was too stupid for elementary Algebra. But After-Keynesians don't get it to this day. pic.twitter.com/Kr5RrxYkGe
April 2, 2025
Occasional Xs: The foul spirit of political economics (CXXXI)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) April 2, 2025
“Economists shouldn't play God and recommend policies they (think people should) want.” (Max Molden)
For 200+ years, economics claims to be Science but is NOT. The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their…
Occasional Xs: What economists really do (CDXLV)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) April 2, 2025
“Capitalism is … confidence in humanity.” (Johan Norberg)
The free-market economy a.k.a. Capitalism runs on profit. Macroeconomic #Profit Qm is given by the axiomatically correct Profit Law/Balances Equation (I−Sm)+(G−T)+(X−M)−(Qm−Yd)≐0. The… pic.twitter.com/6GS0nJiXRy
Occasional Xs: Clueless economists / Science (CXLXIX)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) April 2, 2025
“In October 1932, Keynes and several Cambridge economists sent a letter to the London Times encouraging public investment to fight the depression. Robbins, Hayek, and other LSE economists fired back a response that supported balanced budget… pic.twitter.com/tFxFZK4SpU
April 1, 2025
Occasional Xs: How it works (CCCXLXI)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) April 1, 2025
“Taxes dont fund the fucking state you div The state is a fiat currency issuer, it creates new £s, new purchasing power, taxes destroy pp.” (Phil Waller)
The free-market economy runs on profit. Macroeconomic #Profit Qm is given by the axiomatically… pic.twitter.com/NMNUVeizjs
Occasional Xs: What economists really do (CDXLIV)
#Economics#AllYouNeedToKnow
— E.K-H (@AXECorg) April 1, 2025
“This was a clean vote, democracy works!” (RelearningEcon)
Economics claims to be Science. But Science is about true/false and NOT about like/dislike or democracy. The fact is, economists are still unfit for science. pic.twitter.com/EC7EyDZPEN