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.
- Wikipedia and the promotion of economists’ idiotism
- What’s the use of economists?
- There is no soft science only soft brains
- All models are false because all economists are stupid
- Keynesians ― terminally stupid or worse?
- Why Post Keynesianism Is Not Yet a Science
- The profit theory is false since Adam Smith
- cross-references Failed/Fake Scientists
- cross-references Scientific Incompetence
- cross-references Keynesianism
Wikimedia AXEC143d Profit Law (with increasing complexity) and Balances Equation