“Marx the economist gave way to Marx the alienation theorist, but the policy prescriptions for fighting alienation are still taken from Marx the economist, although that econ analysis has long been debunked ….” (Vlad Tarko)
— AXEC (@EgmontHandtke) May 27, 2026
The crucial point with Marx/ Socialism/ Communism/… pic.twitter.com/lHGQ4r6uXS
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.
May 27, 2026
Occasional X: The foul spirit of political economics (CCLXIII)
Occasional X: The foul spirit of political economics (CCLXII)
“Ayn Rand on the Moral Purpose of Capitalism.” (Students for Liberty)
— AXEC (@EgmontHandtke) May 27, 2026
Ayn Rand's main defect has been that she did not know how the economy in general, and Capitalism/Socialism, in particular, works. She did not have much knowledge (episteme), but a lot of opinion (doxa).
Ayn… pic.twitter.com/8sPGOKKTg0
May 26, 2026
Occasional X: Clueless economists / Science (CCCXXX)
“The demand curve is the most basic object in economics.” (Brian Albrecht)
— AXEC (@EgmontHandtke) May 26, 2026
No, the demand curve is the most basic object in microeconomics. But microeconomics is axiomatically false. For methodological reasons, economics must be based on objective/systemic macrofoundations, not… pic.twitter.com/ZPYZBaHCTd
May 25, 2026
Occasional X: The foul spirit of political economics (CCLXI)
“ … so they [Marx, Keynes] provide you with useful tools you can use rather than eat your brain …” (Brad DeLong)
— AXEC (@EgmontHandtke) May 25, 2026
Keynes got macroeconomic profit wrong because he was too stupid for the elementary algebra that underlies macroeconomic accounting.
For details, see
The unfinished…
Occasional X: Clueless economists / Money (CXLI)
“Inflation is never an unavoidable natural disaster. It is always the result of the weakness or ignorance of those in charge of monetary policy.” (Friedrich Hayek)
— AXEC (@EgmontHandtke) May 25, 2026
Half true. Inflations are always engineered. The question is who plays which role. The Central Bank is just one…
Occasional X: Clueless economists / Science (CCCXXIX)
“Hyman Minsky's great insight was that stability is itself destabilizing: the credit system and the economy at large progress (or degenerate) through successive stages of high confidence and risk-taking.” (William Janeway)
— AXEC (@EgmontHandtke) May 25, 2026
As long as economists ignore scientific standards, the… pic.twitter.com/Bc0bBLCuQC
Occasional X: Economics • Communication • Disinfotainment (V)
“Today I learned JD Vance is a Marxist.” (Nathan Kalman-Lamb)
— AXEC (@EgmontHandtke) May 25, 2026
Those silly games go on as general stupidity increases.
Because Marx got the foundational concept of economics —profit— wrong, his communicative contribution reduces to psycho-social-political-philosophical blather.…