tag:blogger.com,1999:blog-5409437046670967132024-03-18T12:03:07.264+01:00AXEC: New Foundations of EconomicsThis 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.AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comBlogger4604125tag:blogger.com,1999:blog-540943704667096713.post-43335890960425242372024-03-18T12:02:00.001+01:002024-03-18T12:02:13.434+01:00Occasional Xs: What economists really do (CXCIX)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><br><br>The major approaches, <a href="https://twitter.com/hashtag/Walrasianism?src=hash&ref_src=twsrc%5Etfw">#Walrasianism</a>, <a href="https://twitter.com/hashtag/Keynesianism?src=hash&ref_src=twsrc%5Etfw">#Keynesianism</a>, <a href="https://twitter.com/hashtag/Marxianism?src=hash&ref_src=twsrc%5Etfw">#Marxianism</a>, <a href="https://twitter.com/hashtag/Austrianism?src=hash&ref_src=twsrc%5Etfw">#Austrianism</a>, and their derivatives are mutually contradictory & axiomatically false & materially/formally inconsistent & ALL got <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> wrong. When the foundational concepts of the… <a href="https://t.co/sYeBT2L49W">pic.twitter.com/sYeBT2L49W</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1769679527074992371?ref_src=twsrc%5Etfw">March 18, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-61697326910040142562024-03-18T11:21:00.003+01:002024-03-18T11:21:27.383+01:00Occasional X: The growth of public debt is the life elixir of Capitalism (III)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Capitalism?src=hash&ref_src=twsrc%5Etfw">#Capitalism</a><br><br>The US polity is an Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. Analogous for EUR, UK, CAN, etc. The <a href="https://twitter.com/hashtag/ProfitLaw?src=hash&ref_src=twsrc%5Etfw">#ProfitLaw</a> ⇓ implies <a href="https://twitter.com/hashtag/PublicDeficitIsPrivateProfit?src=hash&ref_src=twsrc%5Etfw">#PublicDeficitIsPrivateProfit</a>. Macroeconomic <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> is in the main produced by <a href="https://twitter.com/hashtag/DeficitSpendingMoneyCreation?src=hash&ref_src=twsrc%5Etfw">#DeficitSpendingMoneyCreation</a> i.e. the… <a href="https://t.co/mUwAGmWO4M">pic.twitter.com/mUwAGmWO4M</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1769669730934063242?ref_src=twsrc%5Etfw">March 18, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-17815301584952246572024-03-18T11:08:00.002+01:002024-03-18T11:08:11.638+01:00Occasional Xs: The futile attempt to recycle MMT (LXXXII)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/MMT?src=hash&ref_src=twsrc%5Etfw">#MMT</a><a href="https://twitter.com/hashtag/BadScienceBadPolicyBadPeople?src=hash&ref_src=twsrc%5Etfw">#BadScienceBadPolicyBadPeople</a><br><br>Under the main title “Wealth & Wellbeing”, Andrew Bunker proclaims “MMT is Winning”. The fact of the matter is, that under the main title of Science, MMT lost it long ago.<br><br>MMT's foundational <a href="https://twitter.com/hashtag/BalancesEquation?src=hash&ref_src=twsrc%5Etfw">#BalancesEquation</a> is provably false, so the whole… <a href="https://t.co/MGbE1ICsHU">pic.twitter.com/MGbE1ICsHU</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1769666469002920312?ref_src=twsrc%5Etfw">March 18, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-57687323835503047802024-03-16T22:00:00.004+01:002024-03-16T22:00:29.862+01:00Occasional Xs: How Solow messed up growth theory and why economists don't get it right to this day (III)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><br><br>The history of economic thought is the history of scientific failure. The major approaches are mutually contradictory & axiomatically false & materially/formally inconsistent & ALL got <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> wrong. When the foundational concepts of the subject…</p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1769105701765288417?ref_src=twsrc%5Etfw">March 16, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-64806743808540865312024-03-16T15:21:00.008+01:002024-03-16T15:21:59.192+01:00Occasional Xs: What economists really do (CXCVIII)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><br><br>The major approaches, <a href="https://twitter.com/hashtag/Walrasianism?src=hash&ref_src=twsrc%5Etfw">#Walrasianism</a>, <a href="https://twitter.com/hashtag/Keynesianism?src=hash&ref_src=twsrc%5Etfw">#Keynesianism</a>, <a href="https://twitter.com/hashtag/Marxianism?src=hash&ref_src=twsrc%5Etfw">#Marxianism</a>, <a href="https://twitter.com/hashtag/Austrianism?src=hash&ref_src=twsrc%5Etfw">#Austrianism</a>, and their derivatives are mutually contradictory & axiomatically false & materially/formally inconsistent & ALL got <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> wrong. When the foundational concepts are… <a href="https://t.co/AYmCllaYPh">pic.twitter.com/AYmCllaYPh</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1769004483441238161?ref_src=twsrc%5Etfw">March 16, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-73406647362854423802024-03-16T12:12:00.001+01:002024-03-16T12:12:02.785+01:00Occasional Xs: Clueless economists / Science (XLXXXI)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><a href="https://twitter.com/hashtag/Reset?src=hash&ref_src=twsrc%5Etfw">#Reset</a><br><br>Everyone has a <a href="https://twitter.com/hashtag/Model?src=hash&ref_src=twsrc%5Etfw">#Model</a> in their head. But <a href="https://twitter.com/hashtag/Walrasianism?src=hash&ref_src=twsrc%5Etfw">#Walrasianism</a>, <a href="https://twitter.com/hashtag/Keynesianism?src=hash&ref_src=twsrc%5Etfw">#Keynesianism</a>, <a href="https://twitter.com/hashtag/Marxianism?src=hash&ref_src=twsrc%5Etfw">#Marxianism</a>, <a href="https://twitter.com/hashtag/Austrianism?src=hash&ref_src=twsrc%5Etfw">#Austrianism</a>, and their derivatives are mutually contradictory & axiomatically false & materially/formally inconsistent & ALL got <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> wrong. When the… <a href="https://t.co/UOaBAEGu70">pic.twitter.com/UOaBAEGu70</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1768957793720037735?ref_src=twsrc%5Etfw">March 16, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-59037959527867164782024-03-16T06:32:00.003+01:002024-03-16T06:32:57.770+01:00Occasional Xs: The futile attempt to recycle Hayek (XVI)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><br><br>The history of economic thought is the history of scientific failure. <a href="https://twitter.com/hashtag/Hayek?src=hash&ref_src=twsrc%5Etfw">#Hayek</a> NEVER understood what <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> is and how the economic <a href="https://twitter.com/hashtag/System?src=hash&ref_src=twsrc%5Etfw">#System</a> works. When the foundational concepts of the subject matter are inconsistent, the whole analytical… <a href="https://t.co/tew0fFPYCO">pic.twitter.com/tew0fFPYCO</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1768872167574315281?ref_src=twsrc%5Etfw">March 16, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-91732857946285935922024-03-15T19:11:00.000+01:002024-03-15T19:11:03.344+01:00Occasional Xs: The futile attempt to recycle MMT (LXXXI)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/MMT?src=hash&ref_src=twsrc%5Etfw">#MMT</a><a href="https://twitter.com/hashtag/BadScienceBadPolicyBadPeople?src=hash&ref_src=twsrc%5Etfw">#BadScienceBadPolicyBadPeople</a><br><br>MMT's foundational <a href="https://twitter.com/hashtag/BalancesEquation?src=hash&ref_src=twsrc%5Etfw">#BalancesEquation</a> is provably false, so the whole approach is scientifically worthless.<br><br>The page where Stephanie Kelton gets macroeconomics wrong <a href="https://t.co/CNFDkXM1Ki">https://t.co/CNFDkXM1Ki</a><br><br>The fact that MMT is heavily promoted by <a href="https://twitter.com/hashtag/Movies?src=hash&ref_src=twsrc%5Etfw">#Movies</a> /… <a href="https://t.co/EhhA8zKogP">pic.twitter.com/EhhA8zKogP</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1768700645584912419?ref_src=twsrc%5Etfw">March 15, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-37717998219824174622024-03-15T18:41:00.006+01:002024-03-15T18:41:54.055+01:00Occasional Xs: Clueless economists / Oligarchy-Democracy (I)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Capitalism?src=hash&ref_src=twsrc%5Etfw">#Capitalism</a><br><br>The US polity is an Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. Analogous for EUR, UK, CAN, etc. The <a href="https://twitter.com/hashtag/ProfitLaw?src=hash&ref_src=twsrc%5Etfw">#ProfitLaw</a> ⇓ implies <a href="https://twitter.com/hashtag/PublicDeficitIsPrivateProfit?src=hash&ref_src=twsrc%5Etfw">#PublicDeficitIsPrivateProfit</a>. Macroeconomic <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> is in the main produced by <a href="https://twitter.com/hashtag/DeficitSpendingMoneyCreation?src=hash&ref_src=twsrc%5Etfw">#DeficitSpendingMoneyCreation</a> i.e. the… <a href="https://t.co/Pjmiypgm2m">pic.twitter.com/Pjmiypgm2m</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1768690897946902741?ref_src=twsrc%5Etfw">March 15, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-25180727287462900672024-03-15T10:45:00.005+01:002024-03-15T10:45:58.903+01:00Occasional Xs: What economists really do (CXCVII)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><a href="https://twitter.com/hashtag/Keynesianism?src=hash&ref_src=twsrc%5Etfw">#Keynesianism</a><a href="https://twitter.com/hashtag/Distribution?src=hash&ref_src=twsrc%5Etfw">#Distribution</a><a href="https://twitter.com/hashtag/Keynes?src=hash&ref_src=twsrc%5Etfw">#Keynes</a> got macroeconomic <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> wrong bc he was too stupid for elementary <a href="https://twitter.com/hashtag/Algebra?src=hash&ref_src=twsrc%5Etfw">#Algebra</a>. After-Keynesians do not realize this lethal blunder to this day. ⇒<br><br>Keynesianism as ultimate profit machine<a href="https://t.co/EWEJGEyinO">https://t.co/EWEJGEyinO</a>…</p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1768573406436282583?ref_src=twsrc%5Etfw">March 15, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-31193657634452360482024-03-15T06:10:00.002+01:002024-03-15T19:11:32.861+01:00Occasional Xs: The futile attempt to recycle MMT (LXXX)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/MMT?src=hash&ref_src=twsrc%5Etfw">#MMT</a><a href="https://twitter.com/hashtag/BadScienceBadPolicyBadPeople?src=hash&ref_src=twsrc%5Etfw">#BadScienceBadPolicyBadPeople</a><br><br>MMT's foundational <a href="https://twitter.com/hashtag/BalancesEquation?src=hash&ref_src=twsrc%5Etfw">#BalancesEquation</a> is provably false, so the whole approach is scientifically worthless.<br><br>The page where Stephanie Kelton gets macroeconomics wrong <a href="https://t.co/CNFDkXM1Ki">https://t.co/CNFDkXM1Ki</a><br><br>The fact that MMT is heavily promoted by <a href="https://twitter.com/hashtag/Movies?src=hash&ref_src=twsrc%5Etfw">#Movies</a> /… <a href="https://t.co/ijKCHNLbMH">pic.twitter.com/ijKCHNLbMH</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1768504128836194435?ref_src=twsrc%5Etfw">March 15, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-27062091106983815952024-03-14T19:37:00.001+01:002024-03-14T19:37:44.179+01:00Occasional Xs: What economists really do (CXCVI)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a> claims to be <a href="https://twitter.com/hashtag/Science?src=hash&ref_src=twsrc%5Etfw">#Science</a> but is NOT. The history of economic thought is the history of scientific failure. The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their derivatives) are mutually contradictory &… <a href="https://t.co/YnGbNR0KTz">pic.twitter.com/YnGbNR0KTz</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1768344268190412866?ref_src=twsrc%5Etfw">March 14, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-89020729926166057242024-03-14T18:55:00.004+01:002024-03-14T20:23:41.198+01:00Occasional Xs: The futile attempt to recycle Marx (XXIV)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><a href="https://twitter.com/hashtag/NoFalseHeroMemorials?src=hash&ref_src=twsrc%5Etfw">#NoFalseHeroMemorials</a><a href="https://twitter.com/hashtag/Marx?src=hash&ref_src=twsrc%5Etfw">#Marx</a> NEVER understood what <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> is and how the economic <a href="https://twitter.com/hashtag/System?src=hash&ref_src=twsrc%5Etfw">#System</a> works. Because the foundational concepts of the subject matter are inconsistent, the whole analytical superstructure is scientifically worthless.<br /><br />Dear idiots,…</p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1768334477829230962?ref_src=twsrc%5Etfw">March 14, 2024</a></blockquote><p><br /></p><p>Also <a href="https://x.com/AXECorg/status/1768355904489988302?s=20" target="_blank">here</a>. </p> <script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-34614032812074741282024-03-14T18:39:00.002+01:002024-03-14T18:39:44.117+01:00Occasional Xs: The futile attempt to recycle MMT (LXXIX)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/MMT?src=hash&ref_src=twsrc%5Etfw">#MMT</a><a href="https://twitter.com/hashtag/BadScienceBadPolicyBadPeople?src=hash&ref_src=twsrc%5Etfw">#BadScienceBadPolicyBadPeople</a><br><br>MMT's foundational <a href="https://twitter.com/hashtag/BalancesEquation?src=hash&ref_src=twsrc%5Etfw">#BalancesEquation</a> is provably false, so the whole approach is scientifically worthless.<br><br>The page where Stephanie Kelton gets macroeconomics wrong <a href="https://t.co/CNFDkXM1Ki">https://t.co/CNFDkXM1Ki</a><br><br>MMT has NO scientific truth-value only political…</p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1768330688284016812?ref_src=twsrc%5Etfw">March 14, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-25512412230180199452024-03-14T16:41:00.002+01:002024-03-14T18:26:16.513+01:00Occasional Xs: The foul spirit of political economics (LXXXIV)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/SchuldenBremse?src=hash&ref_src=twsrc%5Etfw">#SchuldenBremse</a><br /><br />The GER polity is an <a href="https://twitter.com/hashtag/Oligarchy?src=hash&ref_src=twsrc%5Etfw">#Oligarchy</a> with Parliament/Treasury/ECB/BigBusiness as integral parts. The 3-sector <a href="https://twitter.com/hashtag/ProfitLaw?src=hash&ref_src=twsrc%5Etfw">#ProfitLaw</a> Q≡(G−T)+(I−S)+Yd implies <a href="https://twitter.com/hashtag/PublicDeficitIsPrivateProfit?src=hash&ref_src=twsrc%5Etfw">#PublicDeficitIsPrivateProfit</a>. Macroeconomic <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> is in the main produced by <a href="https://twitter.com/hashtag/DeficitSpendingMoneyCreation?src=hash&ref_src=twsrc%5Etfw">#DeficitSpendingMoneyCreation</a> i.e. the…</p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1768300351436750903?ref_src=twsrc%5Etfw">March 14, 2024</a></blockquote><div style="text-align: left;"><br /></div><div style="text-align: left;"><br /></div><div style="text-align: left;">For Details of the big picture see <a href="https://axecorg.blogspot.com/2015/11/political-economics-cross-references.html" target="_blank">cross-references Political Economics/Stupidity/Corruption</a>. </div> <script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-40907584722685290982024-03-13T12:34:00.007+01:002024-03-13T12:34:34.074+01:00Occasional Xs: How it works (CLXXIII)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bidenomics?src=hash&ref_src=twsrc%5Etfw">#Bidenomics</a><br><br>The US polity is an <a href="https://twitter.com/hashtag/Oligarchy?src=hash&ref_src=twsrc%5Etfw">#Oligarchy</a> with Congress/Treasury/Fed/BigBusiness as integral parts. The <a href="https://twitter.com/hashtag/ProfitLaw?src=hash&ref_src=twsrc%5Etfw">#ProfitLaw</a> ⇓ implies <a href="https://twitter.com/hashtag/PublicDeficitIsPrivateProfit?src=hash&ref_src=twsrc%5Etfw">#PublicDeficitIsPrivateProfit</a>. Macroeconomic <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> is in the main produced by <a href="https://twitter.com/hashtag/DeficitSpendingMoneyCreation?src=hash&ref_src=twsrc%5Etfw">#DeficitSpendingMoneyCreation</a> i.e. the growth of <a href="https://twitter.com/hashtag/PublicDebt?src=hash&ref_src=twsrc%5Etfw">#PublicDebt</a>.… <a href="https://t.co/9sx5VBMm58">pic.twitter.com/9sx5VBMm58</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1767876213932953976?ref_src=twsrc%5Etfw">March 13, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-2575131946809692082024-03-13T12:04:00.005+01:002024-03-13T12:04:43.620+01:00Occasional Xs: What economists really do (CXCV)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><br><br>“When everything is at stake, capitalism also manages nuclear fusion.” This is another case of <a href="https://twitter.com/hashtag/StolenValor?src=hash&ref_src=twsrc%5Etfw">#StolenValor</a>. It has NOT been <a href="https://twitter.com/hashtag/Capitalism?src=hash&ref_src=twsrc%5Etfw">#Capitalism</a> but <a href="https://twitter.com/hashtag/Scientists?src=hash&ref_src=twsrc%5Etfw">#Scientists</a> / <a href="https://twitter.com/hashtag/Inventors?src=hash&ref_src=twsrc%5Etfw">#Inventors</a> / <a href="https://twitter.com/hashtag/Engineers?src=hash&ref_src=twsrc%5Etfw">#Engineers</a> / <a href="https://twitter.com/hashtag/Builders?src=hash&ref_src=twsrc%5Etfw">#Builders</a> / <a href="https://twitter.com/hashtag/Workers?src=hash&ref_src=twsrc%5Etfw">#Workers</a> who have created and continually improve… <a href="https://t.co/Qv0o86BQ2L">pic.twitter.com/Qv0o86BQ2L</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1767868133342150759?ref_src=twsrc%5Etfw">March 13, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-78313225329806693462024-03-13T11:10:00.003+01:002024-03-13T11:10:38.067+01:00Occasional Xs: What economists really do (CXCIV)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/SchuldenBremse?src=hash&ref_src=twsrc%5Etfw">#SchuldenBremse</a><br><br>The GER polity is an <a href="https://twitter.com/hashtag/Oligarchy?src=hash&ref_src=twsrc%5Etfw">#Oligarchy</a> with Parliament/Treasury/ECB/BigBusiness as integral parts. The <a href="https://twitter.com/hashtag/ProfitLaw?src=hash&ref_src=twsrc%5Etfw">#ProfitLaw</a> implies <a href="https://twitter.com/hashtag/PublicDeficitIsPrivateProfit?src=hash&ref_src=twsrc%5Etfw">#PublicDeficitIsPrivateProfit</a>. Macroeconomic <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> is in the main produced by <a href="https://twitter.com/hashtag/DeficitSpendingMoneyCreation?src=hash&ref_src=twsrc%5Etfw">#DeficitSpendingMoneyCreation</a> i.e. the growth of <a href="https://twitter.com/hashtag/PublicDebt?src=hash&ref_src=twsrc%5Etfw">#PublicDebt</a>.… <a href="https://t.co/lqfJvKbsed">pic.twitter.com/lqfJvKbsed</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1767854897758675395?ref_src=twsrc%5Etfw">March 13, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-52640387370179623002024-03-13T10:17:00.006+01:002024-03-13T10:17:26.883+01:00Occasional Xs: How it works (CLXXII)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/SchuldenBremse?src=hash&ref_src=twsrc%5Etfw">#SchuldenBremse</a><br><br>The GER polity is an <a href="https://twitter.com/hashtag/Oligarchy?src=hash&ref_src=twsrc%5Etfw">#Oligarchy</a> with Parliament/Treasury/ECB/BigBusiness as integral parts. The <a href="https://twitter.com/hashtag/ProfitLaw?src=hash&ref_src=twsrc%5Etfw">#ProfitLaw</a> implies <a href="https://twitter.com/hashtag/PublicDeficitIsPrivateProfit?src=hash&ref_src=twsrc%5Etfw">#PublicDeficitIsPrivateProfit</a>. Macroeconomic <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> is in the main produced by <a href="https://twitter.com/hashtag/DeficitSpendingMoneyCreation?src=hash&ref_src=twsrc%5Etfw">#DeficitSpendingMoneyCreation</a> i.e. the growth of <a href="https://twitter.com/hashtag/PublicDebt?src=hash&ref_src=twsrc%5Etfw">#PublicDebt</a>.… <a href="https://t.co/CsCnImklAP">pic.twitter.com/CsCnImklAP</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1767841700741779578?ref_src=twsrc%5Etfw">March 13, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-65219327805945274752024-03-12T19:25:00.002+01:002024-03-12T19:25:09.837+01:00Occasional Tweets: Paradigm Shift (XXII)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Econ?src=hash&ref_src=twsrc%5Etfw">#Econ</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><a href="https://twitter.com/hashtag/ParadigmShift?src=hash&ref_src=twsrc%5Etfw">#ParadigmShift</a><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a> claims to be <a href="https://twitter.com/hashtag/Science?src=hash&ref_src=twsrc%5Etfw">#Science</a> but is NOT. The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, etc.) are mutually contradictory & axiomatically false & materially/formally inconsistent & ALL got <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> wrong. When… <a href="https://t.co/AtGlpsTrse">pic.twitter.com/AtGlpsTrse</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1767617182437875793?ref_src=twsrc%5Etfw">March 12, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-7829724348406910742024-03-12T12:31:00.000+01:002024-03-12T12:31:05.512+01:00Occasional Xs: The futile attempt to recycle MMT (LXXVIII)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/MMT?src=hash&ref_src=twsrc%5Etfw">#MMT</a><a href="https://twitter.com/hashtag/BadScienceBadPolicyBadPeople?src=hash&ref_src=twsrc%5Etfw">#BadScienceBadPolicyBadPeople</a><br><br>MMT's foundational <a href="https://twitter.com/hashtag/BalancesEquation?src=hash&ref_src=twsrc%5Etfw">#BalancesEquation</a> is provably false, so the whole approach is scientifically worthless.<br><br>The page where Stephanie Kelton gets macroeconomics wrong <a href="https://t.co/CNFDkXM1Ki">https://t.co/CNFDkXM1Ki</a><br><br>The fact that MMT is heavily promoted by… <a href="https://t.co/RiERzrlhnR">pic.twitter.com/RiERzrlhnR</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1767512896177614973?ref_src=twsrc%5Etfw">March 12, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-78125636014279079052024-03-12T12:07:00.001+01:002024-03-12T12:07:27.905+01:00Occasional Xs: Clueless economists / Science (XLXXX)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><br><br>The history of economic thought is the history of scientific failure. <a href="https://twitter.com/hashtag/AdamSmith?src=hash&ref_src=twsrc%5Etfw">#AdamSmith</a> NEVER understood what <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> is and how the economic <a href="https://twitter.com/hashtag/System?src=hash&ref_src=twsrc%5Etfw">#System</a> works. That's rather bad for an economist. So, since his time, <a href="https://twitter.com/hashtag/EconomicPolicyGuidance?src=hash&ref_src=twsrc%5Etfw">#EconomicPolicyGuidance</a> has NEVER had valid… <a href="https://t.co/omdeo2WycR">pic.twitter.com/omdeo2WycR</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1767506936646225966?ref_src=twsrc%5Etfw">March 12, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-48039150972230391652024-03-12T11:30:00.004+01:002024-03-12T11:30:29.004+01:00Occasional Xs: How it works (CLXXI)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bidenomics?src=hash&ref_src=twsrc%5Etfw">#Bidenomics</a><br><br>The US polity is an <a href="https://twitter.com/hashtag/Oligarchy?src=hash&ref_src=twsrc%5Etfw">#Oligarchy</a> with Congress/Treasury/Fed/BigBusiness as integral parts. The <a href="https://twitter.com/hashtag/ProfitLaw?src=hash&ref_src=twsrc%5Etfw">#ProfitLaw</a> ⇓ implies <a href="https://twitter.com/hashtag/PublicDeficitIsPrivateProfit?src=hash&ref_src=twsrc%5Etfw">#PublicDeficitIsPrivateProfit</a>. Macroeconomic <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> is in the main produced by <a href="https://twitter.com/hashtag/DeficitSpendingMoneyCreation?src=hash&ref_src=twsrc%5Etfw">#DeficitSpendingMoneyCreation</a> i.e. the growth of <a href="https://twitter.com/hashtag/PublicDebt?src=hash&ref_src=twsrc%5Etfw">#PublicDebt</a>.… <a href="https://t.co/HDrgql3N72">pic.twitter.com/HDrgql3N72</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1767497476825661729?ref_src=twsrc%5Etfw">March 12, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-39900282431450974862024-03-12T11:14:00.002+01:002024-03-12T11:14:58.529+01:00Occasional Xs: What economists really do (CXCIII)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><a href="https://twitter.com/hashtag/Keynesianism?src=hash&ref_src=twsrc%5Etfw">#Keynesianism</a><br><br>Before one can talk about the positive <a href="https://twitter.com/hashtag/Employment?src=hash&ref_src=twsrc%5Etfw">#Employment</a> effects of Military Keynesianism one has to come clear with the positive <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> effects of original Keynesianism. <a href="https://twitter.com/hashtag/Keynes?src=hash&ref_src=twsrc%5Etfw">#Keynes</a> got macroeconomic profit wrong bc he was too stupid for…</p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1767493861247484367?ref_src=twsrc%5Etfw">March 12, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-540943704667096713.post-65233357953900499872024-03-11T22:00:00.002+01:002024-03-11T22:00:52.510+01:00Occasional Tweets: Paradigm Shift (XXI)<div style="text-align: left;"> </div>
<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Econ?src=hash&ref_src=twsrc%5Etfw">#Econ</a><a href="https://twitter.com/hashtag/FailedFakeScience?src=hash&ref_src=twsrc%5Etfw">#FailedFakeScience</a><a href="https://twitter.com/hashtag/ParadigmShift?src=hash&ref_src=twsrc%5Etfw">#ParadigmShift</a><a href="https://twitter.com/hashtag/Economics?src=hash&ref_src=twsrc%5Etfw">#Economics</a> claims to be <a href="https://twitter.com/hashtag/Science?src=hash&ref_src=twsrc%5Etfw">#Science</a> but is NOT. The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, etc.) are mutually contradictory & axiomatically false & materially/formally inconsistent & ALL got <a href="https://twitter.com/hashtag/Profit?src=hash&ref_src=twsrc%5Etfw">#Profit</a> wrong. When… <a href="https://t.co/j7Yk7hQJdj">pic.twitter.com/j7Yk7hQJdj</a></p>— E.K-H (@AXECorg) <a href="https://twitter.com/AXECorg/status/1767293706699219009?ref_src=twsrc%5Etfw">March 11, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>AXEC / E.K-Hhttp://www.blogger.com/profile/10402274109039114416noreply@blogger.com