“What do you pretend to demonstrate? Many of your model variables (rho_E, rho_D and similar) are directly dependent on human factors such as emotions, irrationality, corruption, incompetence, etc... yet your model ignores those.” (Yope) The AXEC Axioms are systemic instead of behavioral. From the Austrian Action Axiom follows only empty blather. From the AXEC Axioms follows path-dependent random paths. Of course, they are not predictable. Only charlatans predict the future, and only morons take them seriously. When economists predict, this is no different from reading poultry entrails. For the methodological details, see Scientists do NOT predict the future (III) https://t.co/7x0ZkT367f The axioms are systemic, i.e., behavior-free. That does not mean that the AXEC approach is behavior-free. You obviously overlooked the Propensity Function: The Propensity Function as general formalization of Economic Man/Woman https://t.co/aiUTmdmA6l The Propensity Function replaces the Action Axiom. Economics has defined itself as a social science and accordingly has been based on subjective/behavioral assumptions/axioms. This is the methodological ur-mistake. The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their derivatives) are mutually contradictory, axiomatically false, and materially/formally inconsistent. They all got profit wrong. When the subject's foundational concepts are inconsistent, the entire analytical superstructure is scientifically worthless. More precisely, Austrianism is scientifically worthless. It has become a refugium for senseless blathering. I have demonstrated beyond reasonable doubt that Yope is either stupid or corrupt or both.
— AXEC (@EgmontHandtke) October 28, 2026
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.