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.

February 28, 2025

Occasional X: The futile attempt to recycle Milton Friedman (XXXIII)

#Economics #AllYouNeedToKnow “Economics is the study of the economy, not the study of economists.” (Ricardo Reis) Whether Milton Friedman...

Occasional X: Paradigm Shift (LX)

#Economics #AllYouNeedToKnow “Identifying a phenomenon is not enough; we need a theory that makes instability a normal result in our econ...

February 27, 2025

Occasional X: How it works (CCCXXVIX)

#Economics #AllYouNeedToKnow The free-market economy runs on #Profit . Macroeconomic profit is given by the axiomatically correct Profit ...

Occasional X: The futile attempt to recycle Marx (XLI)

#Economics #AllYouNeedToKnow As a scientist, Marx had been a total failure. He never understood #Profit and how the economic system work...

Occasional X: How it works (CCCXXVIII)

Macroeconomic profit Qm is given by the Profit Law/Balances Equation (I−Sm)+(G−T)+(X−M)−(Qm−Yd)≐0 which implies #PublicDeficitIsPrivatePr...

February 26, 2025

Occasional X: The futile attempt to recycle Hayek (XXXIII)

#Economics #AllYouNeedToKnow Economics is about how the economy works. It is a Systems Science and NOT a Social Science. Economists have ...

Occasional X: How it works (CCCXXVII)

“The highest loss in the central bank's history … so far!” (Rudy Havenstein) The free-market economy runs on #Profit . Macroeconomic ...

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