“Not a day goes by without critics making up fantasy reasons to dunk on Austrian Economics.” (Per Bylund)
— AXEC (@EgmontHandtke) April 3, 2026
von Mises never understood profit, and by logical consequence, how the economic system works. To this day, Austrian economics is not science, but propaganda for a low-IQ…
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.
April 3, 2026
Occasional X: The futile attempt to recycle von Mises (IX)
Occasional X: Clueless economists / Money (XCXXIX)
“Is money a creation of the State or the outcome of voluntary exchange?” (Foundation of Economic Education)
— AXEC (@EgmontHandtke) April 3, 2026
If you want to know the Laws of Thermodynamics, you don't need to know who invented fire. Likewise, in economics, in order to know how fiat money in a highly developed…
Occasional X: The foul spirit of political economics (CCLXVI)
The history of economic thought is the history of scientific failure. The major approaches are mutually contradictory, and axiomatically false, and materially/formally inconsistent. They ALL got profit wrong. Marx was NO exception.
— AXEC (@EgmontHandtke) April 3, 2026
For proof, see the working paper ⇒
Profit for…
Occasional X: Time to get the axioms of economics right (VII)
“I’m familiar with the position of praxeology I just find it baffling. It was refuted in Mises lifetime. Karl Menger showed praxeological arguments didn’t work, …” (Jules)
— AXEC (@EgmontHandtke) April 3, 2026
The Founding Fathers defined economics as a social science, and it has therefore been based on… pic.twitter.com/tXi1aNADBr
April 2, 2026
Occasional X: The foul spirit of political economics (CCLXV)
“Adam Smith’s The Wealth of Nations didn’t just explain the world – it changed it.” (Austrian Economics Center)
— AXEC (@EgmontHandtke) April 2, 2026
Change is a weasel word. Any moron can change the world. The point is to improve it. Economists failed at this task.
Adam Smith was not an original thinker, not a… pic.twitter.com/HUMyGBNxsJ
Occasional X: Clueless economists / Science (CCXCVII)
“Murray Rothbard referred to the Spooner–Tucker doctrine as the core insight of the individualist anarchists: that exploitation is not inherent to the market, but arises from State intervention.” (Philippe Lemieux)
— AXEC (@EgmontHandtke) April 2, 2026
The Spooner–Tucker doctrine is a corollary of the Supreme…
Occasional X: Clueless economists / Employment (XXVIII)
“Higher wages raise consumption and sales. Firms respond to demand, not just costs.” (Relearning Economics)
— AXEC (@EgmontHandtke) April 2, 2026
The axiomatically correct macroeconomic Employment Law ⇓ tells one how ― in the elementary case ― the employment L depends ― under the condition of product market… pic.twitter.com/NQAjgQpl5k