#MMT#BadScienceBadPolicyBadPeople#SectoralBalances
— E.K-H (@AXECorg) April 27, 2024
The so-called #FreeMarketEconomy runs on profit. The axiomatically correct macroeconomic #ProfitLaw / #BalancesEquation reads (I−Sm)+(G−T)+(X−M)−(Qm−Yd)≐0. Because they are too stupid for elementary #Algebra, #MMTers get… pic.twitter.com/iAPD0NHv2C
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.
April 27, 2024
Occasional Xs: The futile attempt to recycle MMT (XCV)
Occasional Xs: Clueless economists / Science (LXXXIV)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) April 27, 2024
“Mainstream economics is a disarray, by definition.”
Economics claims to be #Science but is NOT. The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and their derivatives) are mutually contradictory & axiomatically false…
Occasional Tweets: Economic laws (II)
#Economics#FailedFakeScience
— E.K-H (@AXECorg) April 27, 2024
“There are no 'economic laws'. Every honest thinker knows this. There are only decisions made by humans.”
This is the scientifically incompetent #Economist's methodological confusion in a nutshell.
To begin with, economics is NOT a #SocialScience… pic.twitter.com/egsJxYqubP
April 26, 2024
Occasional Xs: Clueless economists / Inflation (XXIII)
#Economics#FailedFakeScience#Inflation
— E.K-H (@AXECorg) April 26, 2024
Mr. Powell is not to blame for policy mistakes. Economics is.
The major approaches (#Walrasianism, #Keynesianism, #Marxianism, #Austrianism, and their derivatives) are mutually contradictory & axiomatically false & materially/formally… pic.twitter.com/ZEv9wjEQQw
Occasional Xs: What economists really do (CCXXVIII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) April 26, 2024
“How economists could make themselves more useful?”
Economics claims to be #Science but is NOT. The history of economic thought is the history of scientific failure. The major approaches (#Walrasianism,…
April 25, 2024
Occasional Xs: What economists really do (CCXXVII)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) April 25, 2024
“… I do not hold that Bastiat was a bad theorist. I hold that he was no theorist.” (Schumpeter)#Bastiat had NO idea of what #Profit is and how the economic #System works. He was just another #AgendaPusher /…
Occasional Xs: What economists really do (CCXXVI)
#Economics#FailedFakeScience#Economists#StupidOrCorruptOrBoth
— E.K-H (@AXECorg) April 25, 2024
“… I do not hold that Bastiat was a bad theorist. I hold that he was no theorist.” (Schumpeter)#Bastiat had NO idea of what #Profit is and how the economic #System works. He was just another #AgendaPusher /…