#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 5, 2024
Never trust a moralizing economist.
Since the founding fathers, economists have not understood or intentionally obscured the difference between moralizing and doing science.
Adam Smith NEVER understood what #Profit is and how the economic #System… pic.twitter.com/Ity9ysxlmu
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.
November 5, 2024
Occasional Xs: What economists really do (CCCLXXIX)
Occasional Xs: What economists really do (CCCLXXVIII)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 5, 2024
“What we call 'the economy' is so important to us that economists have become the high priests of our society.” (David Graeber)
Economics claims to be science but is NOT. The major approaches (#Walrasianism, #Keynesianism, #Marxianism,…
Occasional Xs: How it works (CCC)
#LearnRealEconomics
— E.K-H (@AXECorg) November 5, 2024
“Evidence of plutocratic developments in the US.” (Philipp Heimberger)
The correct term for the U.S. polity is NOT #Democracy but #Oligarchy
The U.S. economy runs on #Profit. Macroeconomic profit Qm is given by the axiomatically correct #ProfitLaw /…
Occasional Xs: How it works (CCXLXXXIX)
#HowItWorks
— E.K-H (@AXECorg) November 5, 2024
“Die Wall Street gewinne immer. Treffender kann man den Niedergang der Demokratie nicht fassen. / Wall Street always wins. The decline of democracy could not be more aptly summarized.” (Fabio De Masi)
The correct term for the U.S. polity is NOT #Democracy but… pic.twitter.com/L6lH8kr8P1
Occasional Xs: The foul spirit of political economics (XCIX)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 5, 2024
The history of economic thought is the history of scientific failure. The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and their derivatives) are mutually contradictory & axiomatically false & materially/formally… pic.twitter.com/UytUSxNXI8
Occasional Xs: Paradigm Shift (XL)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) November 5, 2024
“The purpose of studying economics is … to learn how to avoid being deceived by economists” (Joan Robinson)
No, the 'purpose of studying economics' is to figure out how the economic system works. For 200+ years #Economists have failed at their… pic.twitter.com/PjtTH9udpc
November 4, 2024
Occasional Xs: The futile attempt to recycle MMT (CXXIV)
#MMT#BadScienceBadPolicyBadPeople
— E.K-H (@AXECorg) November 4, 2024
MMT's foundational #BalancesEquation is provably false, so their whole #MacroEconomics is scientifically worthless.
The page where Stephanie Kelton gets macroeconomics wrong https://t.co/CNFDkXM1Ki pic.twitter.com/3t6xKPvrgl