November 20, 2023

Occasional Xs: The futile attempt to recycle Adam Smith (XLVIII)

›
  The history of economic thought is the history of scientific failure. #AdamSmith NEVER understood what #Profit is and how the economic ...

Occasional Xs: The progressive economist as trailblazer for the Oligarchy

›
  The #ProfitLaw ⇓ implies #PublicDeficitIsPrivateProfit . So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy and res...

The Fed's generation of profit, interest, and capital gains is second to none

›
Comment on Brian Romanchuk on 'No, QE Is Not Costless' Blog-Reference The US economy runs on profit. The 3-sector  ProfitLaw Q≡(G−T)...
November 19, 2023

Occasional Xs: How it works (CXX)

›
  The US polity is an #Oligarchy with Congress/Treasury/Fed/BigBusiness as integral parts. The #ProfitLaw implies #PublicDeficitIsPrivate...

Occasional Xs: Economics still lacks correct macrofoundations (XXIII)

›
  #Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra . So, he messed up the #ParadigmShift from #Micro...

Occasional Xs: Economics ― just disinfotainment and self-hype (XXXI)

›
  #Economics #FailedFakeScience #DisInfoTainment #Oscarisation #Economics claims to be #Science but is NOT. The representative #Economist...

Occasional Xs: The foul spirit of political economics (LI)

›
  #Economics #FailedFakeScience Since the founding fathers, #Economists have consistently violated the foundational #Principle of the #Se...