“If you’re studying economics and they’re not teaching Thomas Sowell, you’re not getting an education. You’re getting an indoctrination.” (Charlie Kirk)
— AXEC (@EgmontHandtke) August 19, 2026
Economics has been failed/fake science since the founding fathers. It has defined itself as a social science and accordingly…
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.
August 19, 2026
Occasional X: The foul spirit of political economics (CCCXLXII)
Occasional X: The futile attempt to recycle Austrianism (CXXII)
“The entire edifice of modern economic policy rests on a lie: that a group of planners can manage an economy better than the people living in it.” (Handre)
— AXEC (@EgmontHandtke) August 19, 2026
Modern economics rests on the premise that if all individuals do constrained optimization, this will result in the optimum…
Occasional X: The foul spirit of political economics (CCCXLXI)
“It looks paradoxical. But that’s how it should be, as Adam Smith knew, John Stuart Mill knew, Karl Polanyi knew.” (Kaushik Basu)
— AXEC (@EgmontHandtke) August 19, 2026
No. That's not how it should be. Kaushik Basu does not understand what science is all about. He has totally overlooked that as a scientist, the… pic.twitter.com/hz6oZaiO3L
Occasional X: Clueless economists / Profit (CLXII)
“Every economic phenomenon in the long run diffuses its effects among the consumers, i.e., all mankind.” (Frédéric Bastiat)
— AXEC (@EgmontHandtke) August 19, 2026
Not true. There are two types of consumers: WeThePeople and WeTheOligarchy. “All mankind” is a fiction that benefits WeTheOligarchy.
Frédéric Bastiat… pic.twitter.com/QaCu2XKeyE
Occasional X: Clueless economists / Science (CCCLXXVII)
“My conclusion is therefore that economics is just a discipline with major problems, the same as the rest of the humanities and social sciences.” (Joseph Francis)
— AXEC (@EgmontHandtke) August 19, 2026
The History of Economic Thought is the history of scientific failure.
Economics has been failed/fake science since…
August 18, 2026
Occasional X: How it works (DVI)
“Jane Street pays a 23 year old $900,000 a year for one skill: take a stream of future payments and price it today. that is all an asset is, and it is why owners compound while savers stand still. … an asset is not a thing. it is a claim on money that has not arrived yet.”…
— AXEC (@EgmontHandtke) August 18, 2026
Occasional X: How it works (DV)
“When you understand what the national debt actually is, you realize the real danger isn't what happens when it gets too big, but what happens when it begins to shrink. You'd think after being wrong for 238 years mainstream macro would try a new theory.” (Douglas Padgett)
— AXEC (@EgmontHandtke) August 18, 2026
Here…