“The amount of energy necessary to refute bullshit is an order of magnitude bigger than to produce it.” (Meme, quoted by Brian Albrecht)
— AXEC (@EgmontHandtke) May 13, 2026
Not true. The correct economics is concentrated to the minimum in the formula below. ⇓ It turns the libraries of Walrasian, Keynesian,… pic.twitter.com/eiRpitGcRg
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 13, 2026
Occasional X: Clueless economists / Science (CCCXVII)
Occasional X: The futile attempt to recycle Austrianism (CII)
“And no my friend, capitalism NEVER relies on government deficits, we abhor and condemn politicians’ wasteful overspending and squandering.” (Hubertus the Austrian)
— AXEC (@EgmontHandtke) May 13, 2026
Everybody hates 'politicians’ wasteful overspending'. That's not economics. Everybody does it. Everybody… pic.twitter.com/172bO45XCM
May 12, 2026
Occasional X: The futile attempt to recycle Austrianism (CI)
“The task of economics is to explain action using a priori logic, and empirical science is impossible in economics, stipulates Mises.” (TakingHayekSeriously)
— AXEC (@EgmontHandtke) May 12, 2026
The founding fathers have defined economics as a social science, and accordingly, it has been based on…
Occasional X: Clueless economists / Money (CXXXIX)
“If you want to understand money and monetary theory, you have to read this book.” (Fabian Wintersberger)
— AXEC (@EgmontHandtke) May 12, 2026
Download the book and search for the word profit. The result is zero. An economics book that fails to mention profit is scientifically worthless. That holds for Austrianism…
Occasional X: The futile attempt to recycle Austrianism (C)
“The State Theory [of Money; MMT] is not a bad monetary theory; it is not a monetary theory at all. “ (Ludwig von Mises, quoted by Fabian Wintersberger)
— AXEC (@EgmontHandtke) May 12, 2026
von Mises never understood profit, and by logical consequence, how the economic system works. To this day, Austrian economics…
Occasional X: The futile attempt to recycle Kalecki (XV)
Because Marx got the foundational concept of economics —profit— wrong, his communicative contribution reduces to psycho-social-political-philosophical blubber.
— AXEC (@EgmontHandtke) May 12, 2026
Marx/Engels called their common project Scientific Socialism, but its scientific content has been zero from the…
Occasional X: Clueless economists / Science (CCCXVI)
“One wonders, since he had so little time and knew nothing about economics how did he manage to write 'The treatise....' and 'The General Theory' ...” (Branko Milanovic)
— AXEC (@EgmontHandtke) May 12, 2026
Branko Milanovic does not know the difference between political economics and economics as a science. ⇓ It… pic.twitter.com/v4tHrH0g1g