#Inflation#Deficit#Profit#Debt
— E.K-H (@AXECorg) September 25, 2023
The macroeconomic #LawOfSupplyAndDemand and the #ProfitLaw tell one exactly how avg #Price P & total #Profit Qm move as a function of avg #WageRate W, avg #Productivity R & overall #DeficitSpendingMoneyCreation ρE ― which is the common cause. pic.twitter.com/MltuXf5fbl
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.
September 25, 2023
Occasional Xs: How it works (LIII)
Occasional Xs: The futile attempt to recycle Keynesianism (XXIX)
#Economics#FailedFakeScience#CargoCultScience
— E.K-H (@AXECorg) September 25, 2023
The history of #EconomicThought is the history of #ScientificFailure. #Keynes got macroeconomic #Profit wrong bc he was too stupid for elementary #Algebra. Bc of this, #MacroEconomics is scientifically worthless to this day. pic.twitter.com/SIkCKGKlNH
September 23, 2023
Occasional Xs: Clueless economists / Models (I)
#Economics#FailedFakeScience#ScientificIncompetence#Walrasianism, #Keynesianism, #Marxianism, #Austrianism etc. are axiomatically false & materially/formally inconsistent & ALL got #Profit wrong.
— E.K-H (@AXECorg) September 23, 2023
All models are false because all economists are stupidhttps://t.co/Uk1gI7FfD4
Occasional Xs: The futile attempt to recycle Adam Smith (XXXVIII)
#Economics
— E.K-H (@AXECorg) September 23, 2023
The history of economic thought is the history of scientific failure. Adam Smith NEVER understood what #Profit is and how the economic #System works. Economic #PolicyGuidance has NEVER had sound scientific foundations. #Economists still have not figured that out. pic.twitter.com/BvYDnY9cEj
Occasional Xs: Clueless economists / History (I)
At some point in history, every #Science has been captured & weaponized by #Politics. To #Economics, this happened already at the beginning. Thus, #Econ became #FailedFakeScience. The #TrueHistory of #EconomicThought is the #History of #ScientificFailure.
— E.K-H (@AXECorg) September 23, 2023
Occasional Xs: How it works (LII)
The correct term for the current political system is #Oligarchy. It thrives on #DeficitSpendingMoneyCreation=growing #PublicDebt. The #ProfitLaw implies #PublicDeficitIsPrivateProfit. So, #Democracy/#MarketEconomy are misnomers for the Oligarchy's self-alimentation with #Profit. pic.twitter.com/bEYKFqLl1E
— E.K-H (@AXECorg) September 23, 2023
September 22, 2023
Occasional Xs: How it works (LI)
The 3-sector #ProfitLaw Q≡(G−T)+(I−S)+Yd implies #PublicDeficitIsPrivateProfit. So, #DeficitSpendingMoneyCreation is a #FreeLunch for the #Oligarchy. Their #FinancialWealth grows with #PublicDebt becoming their #Interest #CashCow. This is how the #FreeMarketEconomy works. pic.twitter.com/cRKmbPYlWU
— E.K-H (@AXECorg) September 22, 2023