July 21, 2018

The present non-existence of economics

Comment on Lars Syll/Kingsley Lewis on ‘The present state of economics’


You say: “While (S−I+T−G+M−X=0) is always necessarily true, it is merely a tautology based on accounting definitions.”

This is one of the oldest and most imbecilic slogans in the history of economics blather and proof that economists have produced NOTHING of scientific value for 200+ years. The equation is logically/mathematically false which is a testament to both orthodox AND heterodox economists’ abysmal stupidity.

Suggested links:
For details of the big picture see:

Egmont Kakarot-Handtke


Wikimedia AXEC143d Profit Law (with increasing complexity) and Balances Equation