#Economics#FailedFakeScience
— E.K-H (@AXECorg) May 5, 2024
'The change makers have only changed the world in various ways — the point, however, is to improve it.'
The history of economic thought is the history of scientific failure. #Marx was NO exception. He got #Profit (the foundational concept of the…
AXEC: New Foundations of Economics
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.
May 5, 2024
Occasional Xs: The futile attempt to recycle Marx (XXVI)
Occasional Xs: How it works (CXCI)
#LearnRealEconomics#Deficit#Profit#Debt#Interest
— E.K-H (@AXECorg) May 5, 2024
The #MarketEconomy runs on #Profit. The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Macroeconomic profit is mainly produced by the growth of… pic.twitter.com/4uyN9vRRpp
Occasional Xs: The futile attempt to recycle MMT (XCIX)
#Economics#MMT
— E.K-H (@AXECorg) May 5, 2024
“Everyone has an opinion on MMT, but very few understand monetary operations enough to formulate intelligent criticism.“
Yes, Mr. Bernstein's comment on money-printing and deficit-financing is BS but it cannot be used as proof that MMT/Stephanie Kelton is…
Occasional Xs: What economists really do (CCXXXVI)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) May 5, 2024
“While government debt can be a valuable tool for addressing myriad economic challenges, it is not and has never been a free lunch.”
The #FreeMarketEconomy runs on #Profit. The 3-sector #ProfitLaw Qm≡(G−T)+(I−Sm)+Yd implies that the greater part…
May 4, 2024
Occasional Xs: The futile attempt to recycle MMT (XCVIII)
#Economics#MacroFoundations#SectoralBalances
— E.K-H (@AXECorg) May 4, 2024
The so-called #FreeMarketEconomy runs on #Profit. The axiomatically correct macroeconomic #ProfitLaw / #BalancesEquation (I−Sm)+(G−T)+(X−M)−(Qm−Yd)≐0 implies Public Deficit G−T>0 = Private Profit Qm.
From this follows that…
Occasional Xs: The futile attempt to recycle Adam Smith (LXVI)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) May 4, 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.
Adam Smith NEVER… pic.twitter.com/4ljFBgeDJk
Occasional Xs: What economists really do (CCXXXV)
#Economics#War
— E.K-H (@AXECorg) May 4, 2024
The USA/EUR/GER is at war with RUS. This implies the transition from the #Welfare to the #Warfare #State and this, in turn, means #Impoverishment / #DeficitSpendingMoneyCreation / exploding #PublicDebt / #Inflation and exploding macroeconomic #Profit. In real…