#Economics#FailedFakeScience#HallOfShame
— E.K-H (@AXECorg) December 23, 2024
The history of economic thought is the history of scientific failure and it goes from #DavidRicardo onward to the clueless folks at the Foundation for Economic Education.
Ricardo NEVER understood what #Profit is and how the economic…
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.
December 23, 2024
Occasional Xs: The futile attempt to recycle Ricardo (X)
Occasional Xs: Clueless economists / Distribution, Inequality (IX)
#LearnRealEconomics#Distribution
— E.K-H (@AXECorg) December 23, 2024
Economics claims to be science but is NOT. The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their derivatives) are mutually contradictory & axiomatically false & materially/formally inconsistent & ALL got #Profit…
Occasional Xs: What economists really do (CDXV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) December 23, 2024
“It is probably one of the essential conditions for the preservation of [a free] society that we do not countenance envy… but treat it, in the words of John Stuart Mill, as ‘the most anti-social and evil of all passions’.” (Friedrich Hayek)
The…
December 21, 2024
Occasional Xs: How it works (CCCXVIII)
“The U.S. issues money by deficit spending. It puts more money into private accounts than it takes out via taxes.” (Steve Roth)
— E.K-H (@AXECorg) December 21, 2024
The blunder is in the undifferentiated term “private accounts”.
The U.S. economy runs on #Profit. Macroeconomic profit Qm is given by the…
December 20, 2024
Occasional Xs: Paradigm Shift (XLVIII)
#Economics#FailedFakeScience#Reset
— E.K-H (@AXECorg) December 20, 2024
“We need to stop making glib assumptions about what other people want and how they can best achieve their objectives.” (Jason Collins)
Yes.
Economics is about how the #Economy works. It is a #SystemsScience and NOT a #SocialScience. Because… pic.twitter.com/Ro96OUB2AA
Occasional Xs: What economists really do (CDXIV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) December 20, 2024
“Central planners will produce the wrong goods, use the wrong inputs, set the wrong prices, hire the wrong people, and ultimately produce shoddy products, and not enough of them anyway.” (Pietra Rivoli)
“Economists will produce provably false… pic.twitter.com/JnTgKKX3Yf
December 19, 2024
Occasional Xs: Clueless economists / Profit (LXIV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) December 19, 2024
“Profits are made by serving the public interest.” (Chris Freiman)
Sure.
For 200+ years, economics has claimed to be #Science but still is NOT. The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their derivatives) are… pic.twitter.com/2d71svMmmG