“Where do you get the money to save? If it is from your wage income then your spending won't allow the producers to save. Where the profit comes from?” (Shahin Ashkiani)
— AXEC (@EgmontHandtke) June 9, 2026
Neither Shahin Ashkiani nor Miguel Anxo Bastos ever understood profit. Both are scientifically very… pic.twitter.com/LiUSFUU6vF
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.
June 9, 2026
Occasional X: Clueless economists / Profit (CLII)
Occasional X: Clueless economists / Science (CCCXL)
“The standard of living of the common man is higher in those countries which have the greatest number of wealthy entrepreneurs.” (Ludwig von Mises)
— AXEC (@EgmontHandtke) June 9, 2026
Ludwig von Mises never understood profit and, by consequence, how the economic system works.
First of all, it is important to…
Occasional X: Paradigm Shift (CXVII)
“My fav clown once again failed to understand that humans don't optimize and modelling human behavior should begin with observing them not with 'let's assume blah blah blah bc it is easier to model it in this way and aligned with our ideology'.” (Shahin Ashkiani)
— AXEC (@EgmontHandtke) June 9, 2026
That sentence… pic.twitter.com/qEizFdC3Iy
June 8, 2026
Occasional X: The futile attempt to recycle Austrianism (CIX)
“Rothbard didn't just publish another economics textbook in 1962. He torched the entire discipline and rebuilt it from first principles, using only logic and human action as his foundation. … he constructed economic theory the way Euclid built geometry: starting with…
— AXEC (@EgmontHandtke) June 8, 2026
Occasional X: Clueless economists / Employment (XXXIII)
“The 1970s obliterated the most cherished myth in mainstream economics: the Phillips Curve trade-off between unemployment and inflation. When stagflation hit America with double-digit inflation alongside soaring unemployment, Keynesian economists scrambled like cockroaches when… pic.twitter.com/d2EcTYKrtE
— AXEC (@EgmontHandtke) June 8, 2026
Occasional X: Clueless economists / Science (CCCXXXIX)
“Jia argued that the past two decades of Chinese academic economics have been dominated by western neoliberal economics and that needs to change.” (Peter Ryan)
— AXEC (@EgmontHandtke) June 8, 2026
True.
'Western neoliberal' economists are look-alike scientists. Economics is what Feynman called cargo cult science.… pic.twitter.com/CDrB6rXTg0
Occasional X: Economics curriculum ― the transmutation of plain morons to graduate morons (XII)
“Three Big Myths about What's Plaguing Higher Ed.” (Phil Magness)
— AXEC (@EgmontHandtke) June 8, 2026
As far as economics is concerned, higher ed has no scientific content.
Neither mainstream nor heterodox economists had any idea what science is all about. They are still a cargo cult science and can't do the…