“All of Keynes’s arguments ran counter to much of the generally accepted economic wisdom of a free society as understood before the Keynesian Revolution. What Keynes succeeded in doing was providing a rationale for what governments always like to do: spend money and pander to…
— AXEC (@EgmontHandtke) April 29, 2026
“Economics is the study of the economy, not the study of economists.” (Ricardo Reis)
— AXEC (@EgmontHandtke) April 29, 2026
Austrians are low-IQ psychologists, not economists. Their argumentation has never been much above kindergarten level. A Paradigm Shift is in science what Schumpeter called creative destruction…