E.K-H

The profit theory is false since Adam Smith. Economists have failed to capture the essence of the market system. A Paradigm Shift is imperative. AXEC makes it.

[E.K-H @AXECorg]

@elonmusk “Wikipedia is corrupt to its core …” (XFreeze)

“Yeah” (Elon Musk)

With regard to economics, Wikipedia is a heap of proto-scientific garbage. This has been proven long ago, see the links
https://t.co/rfbe7BBJwO

[E.K-H @AXECorg]

#Economics
#AllYouNeedToKnow

Paper upgrade:
The Dark-Matter Theory of Fiat Money {78a}
https://t.co/SvOZ93oiOT

[E.K-H @AXECorg]

@RelearningEcon #Economics
#AllYouNeedToKnow

J.S. Mill was the only scientist among brain-dead economists. He understood the difference between science and politics.

Why J.S. Mill had no friendly word for the bigots and votaries of common sense
https://t.co/tunyuW5tbZ

[E.K-H @AXECorg]

@RelearningEcon #Economics
#AllYouNeedToKnow

“There is nothing underneath, as it were, holding it [money] up.” (Perry Mehrling)

Nothing underneath money is needed to hold it up.

The Dark-Matter Theory of Fiat Money {78a}
https://t.co/SvOZ93oiOT

[E.K-H @AXECorg]

@JesusFerna7026 (i) “Recursive Macroeconomic Theory, by Lars Ljungqvist and Thomas J. Sargent, fourth edition” is proto-scientific garbage.

(ii) Jesús Fernández-Villaverde is an #EconBlocker. ⇓

(iii) Academic economics is a scientific fraud.

[E.K-H @AXECorg]

@RelearningEcon “Every financial asset is someone else's liability: ∑ A𝒻 ≡ ∑ L𝒻 or A-L=E(0)” (Relearning Economics)

True. That's why Qm≡−Sm. See

First Lecture in New Economic Thinking
https://t.co/uEg6iAgKll

[E.K-H @AXECorg]

@RelearningEcon #Economics

“Kalecki's profit equation: Π= I + (G − T) + (X − M) − SH” has to be replaced by the consistent macroeconomic profit formula Qm≡Yd+(I−Sm)+(G−T)+(X−M). See

Profit analysis ― another exercise in economic deception
https://t.co/79ZSbrFcNU

[E.K-H @AXECorg]

@RelearningEcon #Economics
#AllYouNeedToKnow

“Teach a parrot the terms 'supply and demand' and you've got an economist.” (Thomas Carlyle)

For details about parrots and economists, see ⇒

Bang — the representative economist and supply-demand equilibrium are dead
https://t.co/aNBIV3TXYA

[E.K-H @AXECorg]

The Dark-Matter Theory of Fiat Money @SSRN https://t.co/76JUFUuzh3

[E.K-H @AXECorg]

@MMTmacrotrader #Economics
#AllYouNeedToKnow

“When you understand where profits come from, you understand why govt surpluses lead to recessions.” (Douglas)

True, but ⇒
The Levy/Kalecki Profit Equation is false
https://t.co/cTbCmCsiI7

[E.K-H @AXECorg]

@cafreiman #Economics
#AllYouNeedToKnow

When you don't trust economic experts, you are doing the right thing. The representative economist is NOT a competent scientist. Economics has been a failed / fake science for 200+ years.

[E.K-H @AXECorg]

@EconomicsinTen #Economics
#AllYouNeedToKnow

Ricardo, too, got profit theory wrong
https://t.co/hAbgvDcx17

Scientifically incompetent economists have not realized it to this day. This is why economics is still failed/fake science.

[E.K-H @AXECorg]

@feeonline #Economics
#AllYouNeedToKnow

“No nation was ever ruined by trade.” (Benjamin Franklin)

That's provably false. For details see post ⇒
https://t.co/36A50DAqI3

[E.K-H @AXECorg]

@RelearningEcon The predator-prey model of economics is just the outcome of a false definition of total macroeconomic income ψ as the sum of wages Yw and profits Q i.e.
Ψ≡Yw+Q
Q/Ψ≡1−Yw/Ψ

[E.K-H @AXECorg]

@RelearningEcon #Economics
#AllYouNeedToKnow

Keynes got macroeconomic #Profit wrong because he was too stupid for elementary Algebra. But After-Keynesians don't get it to this day.

[E.K-H @AXECorg]

@RelearningEcon @PerBylund #Economics
#AllYouNeedToKnow

“This was a clean vote, democracy works!” (RelearningEcon)

Economics claims to be Science. But Science is about true/false and NOT about like/dislike or democracy. The fact is, economists are still unfit for science.

[E.K-H @AXECorg]

@richyphillips #Economics
#AllYouNeedToKnow

“It's true that some MMTers are more 'socialist' than others but MMT itself is not ideological …” (Richard Phillips)

MMT is practical money-making for WeTheOligarchy ⇒

Dear idiots, MMTers are Wall Street’s agenda pushers
https://t.co/WGuiYhKXI5

[E.K-H @AXECorg]

@RelearningEcon #Economics
#AllYouNeedToKnow

MMT's foundational Balances Equation is provably false, so their whole macroeconomics is false. ⇒

The page where Stephanie Kelton gets macroeconomics wrong
https://t.co/CNFDkXM1Ki

For the full-spectrum refutation see ⇒
https://t.co/9Rldtrw2J1

[E.K-H @AXECorg]

@RelearningEcon #Economics
#AllYouNeedToKnow

“Identifying a phenomenon is not enough; we need a theory that makes instability a normal result in our economy and gives us handles to control it.” (H. Minsky)

Yes, because mainstream economics failed at this task, a Paradigm Shift is inevitable.

[E.K-H @AXECorg]

@Steinernomics Macroeconomic profit Qm is given by the Profit Law/Balances Equation (I−Sm)+(G−T)+(X−M)−(Qm−Yd)≐0 which implies #PublicDeficitIsPrivateProfit Qm≡G−T>0. So, budget balancing means that the State vanishes as a source of macro profit. Details ⇒

https://t.co/hqVhuAXz8l