“Modern Monetary Theory #mmt is a seductive economic theory that's making the rounds around the world. It was popularized by Stephanie Kelton …” (Emmanuel Maggiori, quoted by Douglas Padgett)
— AXEC (@EgmontHandtke) May 2, 2026
There is no such thing as MMT's Private Sector, but only the household sector and the… pic.twitter.com/AI1G12TeUj
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 2, 2026
Occasional X: The futile attempt to recycle MMT (CC)
May 1, 2026
Occasional X: The futile attempt to recycle Kalecki (XIII)
Kalecki got macroeconomics wrong. Here is DeepSeek's rectification of Grok:
— AXEC (@EgmontHandtke) May 1, 2026
Conclusionhttps://t.co/yHkmjwXcKm
This amounts to a refutation of legacy economics in general and Kalecki's approach, in particular.
For all methodological details about Kalecki's failure, see the…
Occasional X: The foul spirit of political economics (CCLXXXIX)
“The world is better in many ways, …” (Per Bylund)
— AXEC (@EgmontHandtke) May 1, 2026
True. Artificial Intelligence now conducts a logically far superior economics discussion than economists in general and Per Bylund in particular.
This is what DeepSeek concludes: “The AXEC refutation therefore stands as a…
April 30, 2026
Occasional X: Clueless economists / Price Mechanism (XIV)
“In Capital the general rate of profit governs from the level of the totality. In Kalecki, firms set prices through markup …” (Beyon)
— AXEC (@EgmontHandtke) April 30, 2026
Both Marx and Kalecki got profit wrong. So, forget them. The superior approach is as follows.
The axiomatically correct macroeconomic Law of… pic.twitter.com/MOJUPfmfMW
Occasional X: Clueless economists / Science (CCC)
“Best case they can produce words that sound reasonable, but there is never any substance.” (Per Bylund)
— AXEC (@EgmontHandtke) April 30, 2026
This is a spot-on assessment of legacy economics.
Per Bylund never understood profit and, as a consequence, how the economic system works. That's self-disqualifying.
The… pic.twitter.com/aLu7IuGXz8
Occasional X: Clueless economists / Science (CCLXXXIX)
“New at ENTREX: 'How Definitions Matter: It's the Demarcation, Damnit'. (Per Bylund)
— AXEC (@EgmontHandtke) April 30, 2026
“It should be obvious that we must define core terms so that a reader of our work can understand the argument without needing to first decipher the author’s terminology. This goes for all types…
Occasional X: Paradigm Shift (XCXVIII)
“Mainstream economics newly discovering what Post-Keynesians have been saying for at least 50 years, maybe even longer.” (Oktay Özden, refering to Pricing and Production Without The Invisible Hand)
— AXEC (@EgmontHandtke) April 30, 2026
Both mainstream economics and Post-Keynesianism are axiomatically false; that is,…