“If you have any doubt about the mainstream econ psychosis, or in Romer's words, their 'noncommittal relationship with truth,' read their cultish rants about the Guardian piece. We are drowning in debt, fascism is rising and clowns warn about 'the danger of degrowth for…
— AXEC (@EgmontHandtke) June 13, 2026
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.
June 13, 2026
Occasional X: How it works (CDLXXXIII)
Occasional X: I=S ― the biggest idiocy in macroeconomics (IV)
“Short version of many great points. If you redistribute wealth in order to support consumption, you get no wealth — no savings, investment, factories, etc. Poor people will not leave 99% of their new wealth invested in productive capital as billionaires do.” (John Cochrane)
— AXEC (@EgmontHandtke) June 13, 2026
It… pic.twitter.com/KbGzQa92Y2
June 12, 2026
Occasional X: The foul spirit of political economics (CCLXXXI)
“Economics is the study of the economy, not the study of economists.” (Ricardo Reis)
— AXEC (@EgmontHandtke) June 12, 2026
Insane Economic Quotes is disinfotainment.
Occasional X: I=S ― the biggest idiocy in macroeconomics (III)
“You save money because you value future consumption over present consumption. That's time preference, and it drives everything in a capitalist economy. When you delay gratification, you create the capital that builds tomorrow's wealth.” (Handre)
— AXEC (@EgmontHandtke) June 12, 2026
This is the bedtime story that…
Occasional X: The foul spirit of political economics (CCLXXX)
“The bottom line is if you care about economic freedom, democracy is the way to go and if you care about democracy, economic freedom is the way to go.” (A. Tabarrok)
— AXEC (@EgmontHandtke) June 12, 2026
Economists knew that economically/spiritually capitalism is in itself a dead concept. So, they coupled it…
Occasional X: The foul spirit of political economics (CCLXXIX)
“The final outcome of the credit expansion is general impoverishment.” (Ludwig von Mises)
— AXEC (@EgmontHandtke) June 12, 2026
Austrians in general, and von Mises in particular, never understood the profit mechanism, which is the pivotal feature of the free-market economy.
The free-market economy runs on profit.…
Occasional X: Clueless economists / Science (CCCXLI)
“Property rights aren't some abstract legal concept. They're the operating system for human cooperation. When you can't secure the fruits of your labor, you stop producing beyond survival. Why build a better mousetrap when the village chief's nephew can just take it?” (Handre)…
— AXEC (@EgmontHandtke) June 12, 2026
To understand the difference between genuine science and cargo cult science, i.e., business with a lab coat, you just need to look at the long history of rivalry between Tesla and Edison.
— AXEC (@EgmontHandtke) June 12, 2026
“After Edison allegedly dismissed Tesla's AC ideas as impractical and reneged on a promised…