February 13, 2021

Occasional Tweets: Old snake oil salesmen again on promotion tour


Economists: 200+ years of proto-scientific garbage and agenda-pushing

Contrary to the obtrusive self-portrayal, economics is NOT science but political agenda-pushing. Economists are NOT scientists but clowns and useful idiots in the Circus Maximus. Accelerated by COV19, there runs now a world-wide campaign for deficit-spending. What is advertised as New Economic Thinking is in fact the same old agenda-pushing for the Oligarchy as ever.

The 3-sector macroeconomic #ProfitLaw Q≡(G−T)+(I−S)+Yd implies Public Deficit = Private Profit. So, more deficit-spending/money-creation will produce a profit explosion.

Paul Krugman and Larry Summers are long known as failed/fake scientists but are still members of good standing in the economics profession and half-witted enough for doing op-eds, interviews, talk shows, Tweets, and all the other PR stuff, thus spreading the new economic policy gospel of deficits-are-good-and-debt-does-not-matter-and-inflation-is-not-a-thing which, of course, is scientifically baseless and plain deception of WeThePeople. MMTers are doing this for years already and now the rest of academia and their troll brigade are jumping on the bandwagon.

For more on Paul Krugman see AXECquery.
For more on Larry Summers see AXECquery.
For more on Stephanie Kelton see AXECquery.
For more on Bill Mitchell see AXECquery.


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