“Mainstream economics newly discovering what Post-Keynesians have been saying for at least 50 years, maybe even longer.” (Oktay Özden, refering to Pricing and Production Without The Invisible Hand)
— AXEC (@EgmontHandtke) April 30, 2026
Both mainstream economics and Post-Keynesianism are axiomatically false; that is,…
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.
April 30, 2026
Occasional X: Paradigm Shift (XCXVIII)
April 29, 2026
Occasional X: Clueless economists / Science (CCLXXXVIII)
“Always a privilege to attend a talk by Tom Sargent! 'It is very hard to read, it is only in words' and 'You should only read it after you are 5 years older than I am', about the General Theory by Keynes.” (Francisco Roch)
— AXEC (@EgmontHandtke) April 29, 2026
Keynes, too, misunderstood the concept of profit because… pic.twitter.com/QFzx0Wj4rR
Occasional X: Clueless economists / Science (CCLXXXVII)
“All of Keynes’s arguments ran counter to much of the generally accepted economic wisdom of a free society as understood before the Keynesian Revolution. What Keynes succeeded in doing was providing a rationale for what governments always like to do: spend money and pander to…
— AXEC (@EgmontHandtke) April 29, 2026
“Economics is the study of the economy, not the study of economists.” (Ricardo Reis)
— AXEC (@EgmontHandtke) April 29, 2026
Austrians are low-IQ psychologists, not economists. Their argumentation has never been much above kindergarten level. A Paradigm Shift is in science what Schumpeter called creative destruction…
Occasional X: The futile attempt to recycle MMT (CXCIX)
“The free market economy uses money, which is in fact a public monopoly.” (Megas Alexandros)
— AXEC (@EgmontHandtke) April 29, 2026
You understand nothing. To begin with, there are two monies: Central Bank money and Commercial Bank money.
Occasional X: The futile attempt to recycle MMT (CXCVIII)
“Mmt is a mechanism that is currently occurring, it is not an ideology!” (Mathew Rouge)
— AXEC (@EgmontHandtke) April 29, 2026
Yes, it's a mechanism, more exactly, balances mechanics, but MMTers misrepresent it intentionally by inventing the “Private Sector”. MMT is not an ideology but a fraud. See the post…
Occasional X: The futile attempt to recycle MMT (CXCVII)
“What do you mean 'hide' - sectoral balance is cited by MMT to explain exactly this.” (Not The Torygraph)
— AXEC (@EgmontHandtke) April 29, 2026
Are you really that stupid? You mention Malcolm Reavell's graph, where he juxtaposes the balances of the Central Government and the Private Sector, and both are equal. WOW,… pic.twitter.com/uZOK5D4WLE
April 28, 2026
Occasional X: The foul spirit of political economics (CCLXXXVIII)
“Prices tell us what is valuable to produce and also what isn’t. This is nothing to do with capitalism or indeed any other method of running an economy.” (Foundations Education)
— AXEC (@EgmontHandtke) April 28, 2026
Half-true. The free-market system is, in the last instance, a quasi-Darwinian selection mechanism,…