“Your grandchildren won't even pay off Labour’s 100bn debt. The interest alone costs us about 5bn every single year. What did we get for all that money?” (NuZillund)
— AXEC (@EgmontHandtke) May 17, 2026
NuZillund has no clue how the economy works.
The free-market economy runs on profit. Macroeconomic profit Qm is…
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 17, 2026
Occasional X: Clueless economists / Breakdown (XXVI)
Occasional X: Clueless economists / Price Mechanism (XV)
“It is not people, it is your tool that is rubbish. It puts 'price' in the centre of attention, and not only that but a nonsensical concept: Equilibrium price.” (Shahin Ashkiani)
— AXEC (@EgmontHandtke) May 17, 2026
The supply-demand-equilibrium concept has been dead for more than 100 years.‡
For details, see… pic.twitter.com/BO2CEqDfV5
Occasional X: Clueless economists / Science (CCCXXIII)
“… and refusing to engage with any of the substantive points.” (NReadmoore)
— AXEC (@EgmontHandtke) May 17, 2026
The opposite is true. Summary of AXEC's argument:
(1) Premise: A monetary economy without profit cannot exist.
(2) In mathematical terms, the objective/systemic minimum requirement is Qm≥0.
(3) The…
May 16, 2026
Occasional X: The futile attempt to recycle Austrianism (CVI)
“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…
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