“Where there is no free market, there is no pricing mechanism; without a pricing mechanism, there is no economic calculation.” (von Mises quoted by Handre)
— AXEC (@EgmontHandtke) March 6, 2026
von Mises never understood profit and, by logical consequence, how the economic system works.
The free-market economy runs…
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.
March 6, 2026
Occasional X: Clueless economists / Profit (CXXXVI)
March 5, 2026
Occasional X: The foul spirit of political economics (CCXXXI)
“One thing economics can and should do is evaluate alternatives.” (Jason Furman)
— AXEC (@EgmontHandtke) March 5, 2026
No, it can't.
Economics is about how the economy works. It is systems science, NOT a social science.
The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their…
Occasional X: Clueless economists / Science (CCLXXII)
“What is economics? It is about people and the choices we make every day.” (IMF)
— AXEC (@EgmontHandtke) March 5, 2026
People and choices are the subject of psychology/ sociology, not of economics.
Economics has defined itself as a social science and accordingly has been based on subjective/behavioral… pic.twitter.com/QnJ1a1f010
Occasional X: Economics on Wikipedia is scientifically worthless (V)
“Wikipedia is corrupt to its core …” (XFreeze)
— E.K-H (@AXECorg) March 5, 2026
“Yeah” (Elon Musk)
With regard to economics, Wikipedia is a heap of proto-scientific garbage. This has been proven long ago, see the linkshttps://t.co/rfbe7BBJwO
Occasional X: Clueless economists / Profit (CXXXV)
“Mises’ point wasn’t ‘planners are corrupt’; it was deeper: without property and prices, they’re flying blind.” (Foundations for Economics Education)
— AXEC (@EgmontHandtke) March 5, 2026
von Mises never understood profit and, by logical consequence, how the economic system works. To this day, Austrian economics is…
March 4, 2026
Occasional X: Economics on Wikipedia is scientifically worthless (IV)
“The 'Wikilaundering' scandal is finally blowing wide open and it’s worse than we thought.” (XFreeze)
— AXEC (@EgmontHandtke) March 4, 2026
With regard to economics, Wikipedia is a heap of proto-scientific garbage. This has been proven long ago, see the linkshttps://t.co/FQqRRiKSde
Occasional X: Economics still lacks correct macrofoundations (XXXVI)
“Learn macro.” (MMT for Progressives)
— AXEC (@EgmontHandtke) March 4, 2026
Both macroeconomics and microeconomics are axiomatically false. MMT for Progressives has no clue about either. His macro recommendation is void. The true macro is below. ⇓
For details of the axiomatically correct macroeconomics and, by… pic.twitter.com/QmTqpxKyCg