“This is not a methodological disagreement. This is a direct denial of the actual subject matter of economics.“ (NReadMoore)
— AXEC (@EgmontHandtke) May 16, 2026
As a matter of fact, this is a refutation of Austrian methodology. The subject matter of economics is not Praxeology but the economic System. Human Nature…
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.
May 16, 2026
Occasional X: The futile attempt to recycle Austrianism (CVI)
Occasional X: The futile attempt to recycle Austrianism (CV)
“A professor proposed ethno-mathematics: maybe 2+2 could be something else in your culture.” (Mises Media)
— AXEC (@EgmontHandtke) May 16, 2026
Yes, question the premises, but don't stop there. Advance to the Paradigm Shift. The new premises represent the ultimate critique of the old ones.
This applies primarily…
Occasional X: Clueless economists / Science (CCCXXII)
“'Time preference' is one of the sharpest concepts in the Austrian School of Economics. … Those who exhibit 'high time preference' prioritize immediate gratification: consume today, go into debt, plunder the present. Those with 'low time preference' sacrifice current pleasures… pic.twitter.com/UaWMvDvQEx
— AXEC (@EgmontHandtke) May 16, 2026
Occasional X: Clueless economists / Money (CXL)
“'Monetary expansion' and 'quantitative easing' are just euphemisms for counterfeiting. Counterfeiting is evil.” (Joshia Lippincott, quoted by Mises Institute)
— AXEC (@EgmontHandtke) May 16, 2026
The Mises folks never understood profit. Because profit is the foundational economic concept, to get it wrong means to… pic.twitter.com/nYe9KDJQlJ
Occasional X: Clueless economists / Science (CCCXXI)
“Even supercomputers won’t solve the problems inherent to central planning.” (Jacobin)
— AXEC (@EgmontHandtke) May 16, 2026
Science is about true/false, not about left/right. This applies in particular to economics. Economists have never understood the difference between politics and science. This is why economics… pic.twitter.com/bmESIfmV2O
Occasional X: Clueless economists / Science (CCCXX)
“… economics studies purposeful human action, not inanimate objects.“ (NReadMoore)
— AXEC (@EgmontHandtke) May 15, 2026
No. Austrians are in the wrong film.
Human Nature/motives/behavior/action are the subject matter of psychology, sociology, political science, social philosophy, history, anthropology, biology,…
May 15, 2026
Occasional X: The futile attempt to recycle Marx (LIX)
“Marx completed the inversion. Surplus was no longer understood as mere excess product, but as surplus labor embodied in value form.” (Beyon.D)
— AXEC (@EgmontHandtke) May 15, 2026
False, again!
Because Marx got the foundational magnitude of economics —profit— wrong, his communicative contribution reduces to…