“As Adam Smith recognized more than 230 years ago, economic freedom and the economic prosperity it brings work to the advantage of the poor.” ( Robert Lawson, quoted by Foundation for Economic Education)
— AXEC (@EgmontHandtke) April 14, 2026
Economists claim that they have scientifically discovered the mysteries of…
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 14, 2026
Occasional X: Clueless economists / Science (CCXCXVII)
Occasional X: Paradigm Shift (XCXV)
“Macroeconomist: We develop a micro-founded model.” (Khoa Vu)
— AXEC (@EgmontHandtke) April 14, 2026
The Founding Fathers defined economics as a social science, and it has therefore been based on subjective/behavioral assumptions/axioms. This was the methodological ur-mistake. It led to microeconomics.
Keynes, too,… pic.twitter.com/VhKz2VPWjt
Occasional X: Clueless economists / Science (CCXCXVI)
“Nobody has ever been able to debunk Karl Marx.” (ironically quoted by Mises Institute)
— AXEC (@EgmontHandtke) April 14, 2026
Debunking has a scientific and a political dimension. The political dimension is for low-IQ agenda pushers like the Austrians. The Capitalism vs Socialism debate has never had scientific… pic.twitter.com/HRBZjvzY9x
April 13, 2026
Occasional X: The foul spirit of political economics (CCLXX)
“Keep your eye on how much the Government is spending because that is the true tax…as there IS NO SUCH THING as an unbalanced budget.” (Milton Friedman, quoted by Liz Churchill)
— AXEC (@EgmontHandtke) April 13, 2026
“ALL OF THIS IS TRUE…” (Liz Churchill)
No, not true. Milton Friedman never understood profit and,…
Occasional X: Paradigm Shift (XCXIV)
“Physicists, brought up on a diet of astounding theories and successful models, have the ability to distinguish a theory from a model and a good model from a bad one. Economists for the most part have never seen a genuine theory, and so discrimination is harder.” (Emanuel Derman,… pic.twitter.com/qLRO5Sx18q
— AXEC (@EgmontHandtke) April 13, 2026
April 12, 2026
Occasional X: How it works (CDLXIX)
“In most countries billionaires are self-made. They invent new products or services that drive progress.” (Michael Arouet)
— AXEC (@EgmontHandtke) April 12, 2026
Nice try to perpetuate a false narrative. That's not economics, but politics for a low-IQ audience. Michael Arouet never understood profit and, by logical…
Occasional X: Clueless economists / Money (XCXXXIII)
“INFLATION IS ALWAYS AND EVERYWHERE A MONETARY PHENOMENON.” (Steve Hanke)
— AXEC (@EgmontHandtke) April 12, 2026
All caps and still wrong.
The Theory of Money in general, and the Quantity Theory in particular, are false since the founding fathers, because macroeconomics has always been false.
For the consistent…