#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) February 5, 2026
“A key feature of ergodicity economics is its focus on external reality — the wealth process, for instance — not on internal states such as subjective utility.” (Ole Peters)
Economics has defined itself as a social science and accordingly has been… pic.twitter.com/4yBjJ7faRA
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.
February 5, 2026
Occasional X: Clueless economists / Science (CCXLXII)
Occasional X: Clueless economists / Money (XCII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) February 5, 2026
“Reassessing Milton Friedman’s monetarism, showing how its core ideas persist in modern macro models and policy rules, and why monetary aggregates still matter as a cross-check against incipient high inflation, …” (Michael Bordo)
Monetarism is… pic.twitter.com/6wZHO2drZr
Occasional X: The futile attempt to recycle behavioral economics (XIII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) February 5, 2026
“Ronald Coase set out to prove that Socialism was superior to the chaos of the market. So he went to America to see how giant industries were actually managed.” (Students for Liberty)
Ronald Coase was a representative microbrain. He didn't know the…
Occasional X: Clueless economists / Philosophy (XII)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) February 5, 2026
“Hayek quoting Taoist philosopher Lao Tzu. Murray Rothbard once called Lao Tzu the world’s 'first libertarian intellectual' (Hayek Quotes)
Whatever he was, Lao Tzu was not a scientist, and he was definitely not an economist.
Hayek never understood… pic.twitter.com/kGn15IJTab
February 4, 2026
Occasional X: Clueless economists / Science (CCXLXI)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) February 4, 2026
“We rarely think of economics as scandalous, but maybe we should.” (Sam Bowles)
Economics has defined itself as a social science and accordingly has been based on subjective/behavioral assumptions/axioms. This is the first methodological mistake,… pic.twitter.com/hrzhAR882u
Occasional X: Paradigm Shift (XCIX)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) February 4, 2026
“Neither Chicago theorists or Austrian theorists hold any of the elements of the position described. Like...none of it.” (Vincent Geloso)
Economics has defined itself as a social science and accordingly has been based on subjective/behavioral… pic.twitter.com/m3RwUVmQUB
Occasional X: The futile attempt to recycle Marx (LIV)
#Economics#AllYouNeedToKnow
— AXEC (@EgmontHandtke) February 4, 2026
“This is your periodic reminder that professors at leading universities still view Marx as an economist worthy of consideration.” (Daniel Lemire)
Marxism is discredited because it is failed/fake science. Economics professors are discredited because…