AXEC: Knowledge only

AXECwiki

Onblog

Blog-References 27

ES Ranking and topping ― a cargo-cultic ritual

Comment on Barkley Rosser on ‘Again One Of The Top 100 Economics Blogs’.

RWER How Adam Smith messed up economics. Comment on Ken Zimmerman on 'Adam Smith’s idea is still the basis of the discipline of economics'.

RWER The sense of economics is agenda-pushing for the Oligarchy. Comment on Lars Syll on ‘Making sense of economics’

MNE Where MMT goes wrong. Comment on Bill Mitchell on ‘MMT economists do not seek to enumerate how many angels can dance on the head of a pin’-

ES NOTE Timely reminder re/EconNobel.

MNE MMT vs Mainstream ― a proto-scientific shitshow. Comment on Bill Mitchell on ‘ECB researchers find fiscal policy is very effective and more so if central banks buy up the debt’ and ‘They never wrote about it, talked about it, and, did quite the opposite ― yet they knew it all along!’.

MNE Australia, here we come. Comment on Tom Hickey on ‘Steve Keen ― Australia: MMT Runs for Office’.

MNE NOTE on #HowMMTservesTheOligarchy.

MNE NOTE on “criticisms have been explicitly and directly addressed” by MMTers.

MNE NOTE on “Meanwhile, corporate profits are at a record with ‘nobody’ working.” (Mike Norman)

MNE There is an absolute limit to the growth of public debt. Comment on Mike Norman on ‘Absolutely idiotic hit piece on MMT by 3 clowns at the Richmond Fed’.

MNE From the fact that mainstream economics is false does not logically follow that MMT is true.

Comment on Bill Mitchell on ‘As the mainstream paradigm breaks down’

MNE Comment on Roberto Emproto on Stephanie Kelton Named One of Most Creative People in Business by Fast Company’.

SBUN COMMENT on Roberto Emproto on Stephanie Kelton Named One of Most Creative People in Business by Fast Company’. See * below.

MNE NOTE on Brian Romanchuk on ‘Monetary Monopoly Model By Sam Levey’.

RWER What is economics? (II). Comment on James Galbraith on ‘What is economics?’

MNE What is economics? (II) Comment on James Galbraith on ‘What is economics?’

MNE What is economics (I)? Comment on James Galbraith on ‘What is economics?’.

RWER What is economics (I)? Comment on James Galbraith on ‘What is economics?’

BB What is MMT? ― Rectifying Bill Mitchell. Comment on Bill Mitchell on ‘Booming growth in Britain (Brexit?) but child poverty rises (austerity)’. See * below.

MNE What is MMT? ― Rectifying Bill Mitchell. Comment on Bill Mitchell on ‘Booming growth in Britain (Brexit?) but child poverty rises (austerity)’.

TSW Debunking economists' favorite hallucinations. Comment on JW Mason on ‘At Age of Economics: How Should an Economist Be?’. See * below.

MNE Debunking economists' favorite hallucinations. Comment on JW Mason on ‘At Age of Economics: How Should an Economist Be?’.

LPS The three dumbest MMT arguments. Comment on Lars Syll on ‘It’s not the debt we need to fix, stupid! It’s our thinking.’. See * below.

MNE The three dumbest MMT arguments. Comment on Lars Syll on ‘It’s not the debt we need to fix, stupid! It’s our thinking.’.

MNE Economics, communication, disinformation.

Comment on Matt Franko on ‘AOC weighs in on “inflation!”’.

MRB Keynes―Marx―Profit: The abysmal scientific failure of economics. Comment on Michael Roberts/Tom Hickey on ‘Marx’s reproduction schema’.

MNE Keynes―Marx―Profit: The abysmal scientific failure of economics. Comment on Michael Roberts/Tom Hickey on ‘Marx’s reproduction schema’.

BB MMTers at the end of their wits. Comment on Bill Mitchell on ‘Intergenerational Report ― the past is catching up with the government and the game is up’. See * below.

MNE MMTers at the end of their wits. Comment on Bill Mitchell on ‘Intergenerational Report ― the past is catching up with the government and the game is up’.

MNE NOTE on All one needs to know about economics and math in general and MMT and math in particular.

ES NOTE on Barkley Rosser: Your economics is refuted on all counts: here is the real thing.

MNE MMT and the staying power of stupidity/ corruption. Comment on Bill Mitchell on ‘MMT and Power ― Part 2’.

MNE Profit is the key to the understanding of how the economy works. Comment on Michael Roberts on ‘Some notes on the world economy now’.

MRB Profit is the key to the understanding of how the economy works. Comment on Michael Roberts on ‘Some notes on the world economy now’. See * below.

OLC NOTE on David Ruccio on Marxian economics — an update.

MNE NOTE on John Quiggin on ‘Two problems with Modern Monetary Theory’. See * below.

JQ NOTE on John Quiggin on ‘Two problems with Modern Monetary Theory’.

MNE NOTE on Paul Krugman.

MNE Profit: The most powerful formula of economics.

Comment on Robert Vienneau on ‘Adam Smith On The Source Of Profits And Rents In The Exploitation Of The Worker’.

TOE Profit: The most powerful formula of economics.

Comment on Robert Vienneau on ‘Adam Smith On The Source Of Profits And Rents In The Exploitation Of The Worker’.

MNE Economists’ periodically recurring crocodile tears about inequality. Comment on Brad DeLong on ‘RHETORICAL QUESTION: Why Do Economists Ignore the Greatest of All Market Failures?’.

BDL Economists’ periodically recurring crocodile tears about inequality. Comment on Brad DeLong on ‘RHETORICAL QUESTION: Why Do Economists Ignore the Greatest of All Market Failures?’.

BB Orthodoxy is refuted ― but MMT also. Comment on Bill Mitchell on ‘The Cambridge Controversy ― a fundamental refutation of orthodox economic theory’. See * below.

MNE Orthodoxy is refuted ― but MMT also. Comment on Bill Mitchell on ‘The Cambridge Controversy ― a fundamental refutation of orthodox economic theory’. See * below.

MNE The new doctrine of State Capture. Comment on Stephanie Kelton/Kaivey on ‘Why The U.S. Can’t Go Broke’.

MNE NOTE on Jason Smith on ‘Implicit assumptions in Econ 101 made explicit’.

RWER Nobody is afraid of MMT because it has been conclusively refuted and MMTers can do NOTHING about it. Comment on James Galbraith on ‘Who’s Afraid of MMT?’. See * below.

LPS Nobody is afraid of MMT because it has been conclusively refuted and MMTers can do NOTHING about it. Comment on James Galbraith on ‘Who’s Afraid of MMT?’. See * below.

MNE Nobody is afraid of MMT because it has been conclusively refuted and MMTers can do NOTHING about it. Comment on James Galbraith on ‘Who’s Afraid of MMT?’. See * below.

RWER Economists betray WeThePeople. Comment on Dean Baker on ‘Putting the debt in context’.

MNE Note on Michael Roberts on ‘Robert Mundell: nothing optimal’.

ES Economic policy: new rhetoric, old agenda.

Comment on Barkley Rosser on ‘Congress Steadily Degenerating’.

MNE NOTE on Stephanie Kelton on ‘Biden Can Go Bigger and Not 'Pay for It' the Old Way’.

MNE NOTE on Robert Paul Wolff on ‘What Marx Got Wrong’ Plus Marx was NOT a scientist/philosopher/ satanist.

MNE NOTE on The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy.

ES Economics ― still the ‘science’ of the mentally impaired. Comment on Barkley Rosser on ‘The Death Of Yeshua Bin Yusuf’.

ES NOTE on the current state of economics.

TSW Macroeconomics ― still dead after 80+ years.

Comment on Mason/Cochrane on ‘The American Rescue Plan as Economic Theory’.

TGE Macroeconomics ― still dead after 80+ years.

Comment on Mason/Cochrane on ‘The American Rescue Plan as Economic Theory’.

MNE Bill Mitchell says that economists are fake scientists ― true, but MMTers are NOT different. Comment on Bill Mitchell on ‘Why economists kept getting the policies right!’ Plus Proof of MMT's inconsistency. Plus Science is about material/formal consistency and proof. Plus Academic economics is politically corrupted and MMT is an integral part of it. Plus Answers to Dean.

MNE Note on Marianne Williamson ‘The United States of Oligarchy’.

RWER Putting the Quantity Theory of inflation to rest. Comment on Blair Fix on ‘Energizing exchange: Learning from econophysics’ mistakes’.

MNE Going beyond the pluralism of idiotism. Comment on Andri Stahel on 'The ideological function of economic theories and models'.

MNE The MMT fraud in slow motion, so that even economists can get it. Comment on Matt Franko on ‘Treasury issuance’ Plus Rotten agenda pushers

MNE Proving Bill Mitchell wrong ― burying MMT for good. Comment on Bill Mitchell on ‘The income-expenditure relationship in macroeconomics ― graphic treatment’. Plus The distributional fraud of MMT.

MNE The memorable Kelton/Trump victory against WeThePeople. Comment on George Eaton on ‘MMT economist Stephanie Kelton: “Donald Trump changed the terms of economic debate”’

MNE Do economists finally wake up from their methodological delirium? Comment on Lars Syll on ‘Does it — really — take a model to beat a model? No!’.

MNE Political fraud and the silence of academia

Comment on Dirk Ehnts on ‘Happy 25th birthday, Modern Money Theory!’ Plus Investment, depreciation, profit

MNE MT pushes the Oligarchy's agenda ― they push MMT. Comment on Arun Kakar on ‘How Modern Monetary Theory gained currency’.

ES NOTE #NoFalseHeroMemorials. See * below.

MNE Cross-posting: MMT refuted in three easy steps. Comment on Asad Zaman on ‘ABC’s of Modern Monetary Theory (MMT)’. See * below.

RWER MMT refuted in three easy steps. Comment on Asad Zaman on ‘ABC’s of Modern Monetary Theory (MMT)’.

MNE Link on 'Optimism in the Midst of a Crisis: Keynes’s Legacy'.

MNE Lethal blunder. Comment on Ole Peters/Kaivey on ‘Everything We’ve Learned About Modern Economic Theory Is Wrong’

INET From the debt economy to the gift economy: how America is brainwashed to love budget deficits.

Comment on James Galbraith on ‘Reconsideration of Fiscal Policy: A Comment’.

MNE From the debt economy to the gift economy: how America is brainwashed to love budget deficits.

Comment on James Galbraith on ‘Reconsideration of Fiscal Policy: A Comment’.

INET Note on Charles DuBois' “All spending = all income”

MNE MMT — an exercise in newspeak. Comment on David Andolfatto/Tom Hickey on ‘Does the National Debt Matter?’.

MNE Links on Keynes, Occasional Tweets No 201202

RWER MMT works just fine. Comment on Editor on ‘U.S. billionaires and the pandemic’. See * below.

MNE Clear thinking in economics: hahaha!

Comment on Tom Hickey on ‘Jude Murdoch and Steven Hail argue modern monetary theory offers desperately needed clear thinking and fresh ideas for our society and our democracy’.

RWER Economists’ foundational conceptual blunder.

Comment on Editor on “necessities of thought”. See * below.

ES Economists are too stupid for the elementary algebra that underlies macroeconomics.

RWER The GDP-death-blow for the economics profession.

ES The GDP-death-blow for the economics profession.

OWN The GDP-death-blow for the economics profession.

MNE Reminder on inflation. Comment on Bill Mitchell on ‘Inflation is not necessarily due to excessive spending’

MNE NOTE Occasional reminder.

MNE Advancing humanity. Really? Comment on Bill Mitchell on ‘An economy that guarantees health and wellbeing for all’.

MNE OMG, after 200+ years, economics becomes a science. Comment on Lars Syll on ‘Studying economics — a total waste of time’.

RWER OMG, after 200+ years, economics becomes a science. Comment on Lars Syll on ‘Studying economics — a total waste of time’. See * below.

ES Fake economics great again. Comment on Barkley Rosser on ‘In The Face Of Total Turbulence, Go Totally Conventional For The Nobel Prize’.

RWER The Paradigm Shift is an accomplished fact. Comment on David Ruccio on ‘Limits of mainstream economics today’. See * below.

LARB MMT: nice try to paint it pink. Comment on Aaron Wistar on ‘Mainstreaming MMT’. Plus It is interesting to learn that it is “Marxist political strategy” to provide permanent free lunches for the Oligarchy.

MNE MMT: nice try to paint it pink. Comment on Aaron Wistar on ‘Mainstreaming MMT’. Plus It is interesting to learn that it is “Marxist political strategy” to provide permanent free lunches for the Oligarchy.

UNZ In the grand scheme of things, Lord Keynes was only a small-time crook. Comment on Steve Penfield on ‘Financial Fraud: Lord Keynes, the New Deal and 'Stimulus' Mania’. Plus Austrianism never rose above the level of gossip and shit-throwing. It's economics at its worst. Plus While Steve Penfield repeats the old rants about banks and bankers, MMTers/Wall Street/Trump pull off the greatest profit explosion of all time before his very eyes. Plus The difference between hypothesis and theory. Plus Needless to emphasize that the general public has no real chance to figure out that economics is fake science. Plus

It holds Financial assets of the Oligarchy ≈ Public debt of WeThePeople. Plus Economists are once again the agenda pushers for the Oligarchy. Plus There is nothing more mendacious than the populist anti-statism of the Austrian school. Plus The EconNobel is the widely visible landmark of economists’ scientific fraud. Plus Austrians never rose above the level of lobbying and shit-throwing. Plus In the political sphere, there is NO human dignity. Plus For abusing academia as a platform for political agenda pushing the fake scientist Friedman was awarded the fake Nobel.

RWER Not all academic pursuits are science.

Comment on Gerald Holtham on ‘The problems of economics as an academic pursuit have a sociological origin’.

MNE Economists’ scientific incompetence is worse than the plague. Comment on Michael Roberts on ‘Ending the pandemic slump — a return to Keynes?’ Plus The stock-flow inconsistency makes that the whole of MMT is proto-scientific garbage.

MRB Economists’ scientific incompetence is worse than the plague. Comment on Michael Roberts on ‘Ending the pandemic slump — a return to Keynes?’

See * below.

MNE The unconditional surrender/sellout of science.

Comment on Sabine Hossenfelder on ‘Follow the Science? Nonsense, I say.’. Plus The Corruption of Scientific America. Plus Economics is NOT a science and economists are NOT scientists. Plus The significance of Sep 3, 2020, is that the genuine sciences have abandoned themselves. Plus ES

Economists have never been anything else than political cockroaches.

MNE What Is MMT? Comment on Asad Zaman on ‘Modern Monetary Theory’.

RWER What Is MMT? Comment on Asad Zaman on ‘Modern Monetary Theory’. Plus Asad Zaman and the rest of self-styled Progressives are complicit in the greatest financial fraud in history. See * below. Plus

The lethal defect of the MMT policy of deficit-spending/money-creation is on distribution, not on inflation. Plus The MMT textbook gets the foundational macroeconomics sectoral balances equation wrong.

MNE Governance, then and now. Comment on Frank Li on ‘Confucius on Governance’.

MNE Psychologism: how morons explain the world. Comment on Brian Romanchuk on ‘Canadian Establishment: "Deficit Myths? Yes, Please!"’. Plus

Business accounting and macroeconomic accounting are different things. Plus Almost all you know about history is wrong.

LPS Let's bury economics now. Comment on Lars Syll on Michael Woodford on models’. See * below

RWER Let's bury economics now. Comment on Lars Syll on Michael Woodford on models’. See * below

MNE Putin or Trump — who is owned by the Oligarchy? Comment on TASS/Tom Hickey on ‘Russia will keep low level of public debt to ensure macroeconomic stability — experts’.

OWN Bang — the representative economist and supply-demand-equilibrium are dead.

MNE MMT: the Oligarchy's latest beauty treatment.

Comment on Bill Mitchell on ‘British-EU disputes suggest the Tories are set to break away from the sordid Thatcher legacy’.

LPS The tragedy of economics: stupid/corrupt economists. Comment on Lars P. Syll/Tom Hickey on ‘On war and economics’. See * below.

MNE The tragedy of economics: stupid/corrupt economists. Comment on Lars P. Syll/Tom Hickey on ‘On war and economics’.

MNE MMT and the unbearable lightness of public debt slavery. Comment on Calgacus on ‘Anthropologist David Graeber, the man behind "We are the 99%" slogan, dead at 59’.

MNE NOTE Debt slavery.

LPS Bye, bye economic philosophers. Comment on Lars Syll/Tom Hickey on ‘The capital controversy’. See * below.

MNE Bye, bye economic philosophers. Comment on Lars Syll/Tom Hickey on ‘The capital controversy’. Plus Macroeconomic profit is foundational to economics. Plus Economists fail the intelligence test already at the entry-level.

ES No False-Hero-Memorials (II). Comment on Barkley Rosser on ‘Assar Lindbeck Passes On’.

MNE The new economic paradigm requires a new textbook. Comment on Bill Mitchell on ‘US Federal Reserve statement signals a new phase in the paradigm shift in macroeconomics’. Plus

The Paradigm Shift to true macrofoundations is an accomplished fact.

MNE MMT: fraudsters united. Comment on Richard Murphy on ‘Steve Keen’s lightbulb moment on modern monetary theory’.

MNE Price theory — more than beating the dead horse again and again. Comment on Blair Fix on ‘Supply and demand deconstructed’.

MNE The trouble with truth. Comment on Philip Giraldi on ‘Rashomon American Style–Truth is somewhere in between’.

RWER Price theory — more than beating the dead horse again and again. Comment on Blair Fix on ‘Supply and demand deconstructed’.

MNE Note: The Paradigm Shift is an accomplished fact.

RWER All behavior-based economic textbooks are false. Comment on John Komlos on ‘A new real-world economics textbook’.

MNE Note: Lerner’s Lie.

ES Fake America great again. Comment on Barkley Rosser on ‘The End Of Special Fiscal Stimulus’. Plus

The self-destructive stupidity of the super-rich. Plus

Handtke’s Law of Exitus Capitalism. Plus Economics is a failed science. That is a fact.

UE Disgrace again ― is economics really that bad?

Comment on David Glasner on ‘Why The Wall Street Journal Editorial Page is a Disgrace’.

ES Economists can hardly wait for their burial at the Flat-Earth-Cemetery. Comment on Barkley Rosser on ‘Is The Latest Apparent Economist Suicide A Sign "Economics Is A Disaster"?’ Plus What shitshow economics is!

MAM Economics is a disgrace – now more than ever.

Comment on Claudia Sahm on ‘Economics is a disgrace’ See * below. Link

MNE NOTE: ForgetKeynes.

CFC NOTE: ForgetKeynes.

MNE Economics as thought-reading and motive-imputation. Comment on Magpie on ‘So, I Actually Hate the JG, Who Knew?’.

MNE NOTE Time to learn economics, folks.

MAM Economics is a disgrace. Comment on Claudia Sahm on ‘Economics is a disgrace’.

MNE NOTE It is pointless to criticize Neoclassics for the x-th time. Plus The macroeconomic Employment Law says that overall employment rises with an increase in the average wage rate.

MNE NOTE: The problem with MMT is NOT inflation but DISTRIBUTION.

MNE That’s wrong with a fiscal deficit. Comment on Prabhat Patnaik on ‘What could be wrong with a fiscal deficit? ’.

ES The US economy hangs on the state ventilator for its survival. Comment on Nathan Tankus on ‘Where do profits come from?’* and Barkley Rosser on ‘Donald Trump's Only Chance’

MNE The question economists could not answer for 200+ years. Comment on Tom Hickey on “Where do profits come from? — Nathan Tankus”. Plus Learn economics. I recommend the textbook Sovereign Economics.

MNE MMT – now official doctrine. Comment on Tom Hickey on ‘A Job Guarantee Costs Far Less Than Unemployment Pavlina Tcherneva’. Plus Because the science-claim is provably false, economists are in fact fraudsters. Plus People trust in science. What they don’t know is that economics is fake science. Plus

The foundational MMT sectoral balances equation is algebraically false. This settles the matter already. Plus MMT is disproved at the elementary level.

MNE The counterfeit currency printers. Comment on The Baffler/Dave Denison on ‘The Money Printers’. Plus Predicting the future is not for scientists. Plus

Future-tellers or warners are political/psychological frauds. Plus Economics has never been anything else than political agenda pushing, MMT included. See * below.

SaM MMT – a Wall Street myth. Comment on Chris Dillow on ‘The Deficit Myth: A Review’. Plus And you do not wonder that the “Marxian economist” Chris Dillow applauds the Wall Street agenda pusher Stephanie Kelton? Plus It is destructive destruction. And it is very improbable that it “unleashes fresh growth” somewhere in the future.

UE What Is MMT? (Short Version).

MNE What Is MMT? (Short Version). Comment on Brian Romanchuk on ‘What Is MMT? (Short Version)’.

MNE MMT Basics. Comment on Lars Syll on ‘MMT basics’.

LPS MMT Basics. Comment on Lars Syll on ‘MMT basics’.

ES Economists: at the end of the wrong track.

Comment on Barkley Rosser on ‘July 24 Society For Chaos Theory In Psychology And Life Sciences Conference’. Plus Economists do not know to this very day what profit is. Plus Learn economics, Barkley Rosser. The canonical textbook Sovereign Economics is your last chance. Plus Economics is fake science and you are the living proof. Plus The lethal defect of game theory is that neither von Neumann nor Nash got the foundational economic concept of profit right. Plus Do you need more proof of your utter scientific incompetence, wacko Barkley? Plus The representative economist is stupid or corrupt or both. The economics Nobel is a fraud. Plus ALL these folks get the trivial algebra of profit wrong. Plus Abuse of Bill Sandholm

Blog-References 26

MNE The value of money and the worthlessness of economics. Comment on David Glasner on ‘What’s Right and not so Right with Modern Monetary Theory’. Plus The quantity theory and monetarism are scientifically dead. Plus In science, the opinions and votes and clicks and likes of 7.5 billion people count exactly for zero.

UE The value of money and the worthlessness of economics. Comment on David Glasner on ‘What’s Right and not so Right with Modern Monetary Theory’. Plus MMTers are currently the worst disgrace of academic economics. Plus With your ignorance and scientific incompetence, you are practically – intentionally or unintentionally does not matter – part of a gigantic political fraud. Plus The scientific fact of the matter is that MMT goes down the scientific toilet. Plus MMT – a Wall Street myth. Plus If you intend to learn economics I recommend the new textbook Sovereign Economics. See * below.

ES Failed economics and the losers’ closed circle of mutual promotion. Comment on Barkley Rosser on ‘Econospeak And Angry Bear Still On List Of Top Economics Blogs, Now For 2020’.

MNE That’s econ2020. Comment on Tom Hickey on ‘An economist explains the biggest myths about the national deficit — and how we can save the economy — Cody Fenwick’.

OWN Wikipedia, economics, scientific knowledge, or political agenda pushing?

OWN Your economics is refuted on all counts: here is the real thing.

OWN Sovereign Economics, International Edition, BoD, published Jun 26.

OWN Profit

MNE NOTE on Coronabonds.

MNE Master of MMT ― Master of proto-scientific garbage. Comment on Bill Mitchell on ‘Rounding off the Masterclass in London last weekend’. Plus MMT got not even the multiplier right. Plus The one answer to all your questions.

MNE NOTE Links on Peter Bofinger on ‘Fridays for Keynesianism’.

MNE MMTers: too stupid for simple math. Comment on Peter Cooper on ‘Politicians Who Want Us to Live Beyond Our Means’. Plus Science runs on the criterion true/false with true/false defined as material/formal consistency and NOTHING else.

MNE Links on John Weeks on ‘Principals of Macroeconomics 5: Robinson and the Theory of Capital’.

MNE Mindfuck or the Eternal Return of dead economic theories. Comment on David Andolfatto on ‘Kalecki on the Political Aspects of Full Employment’.

MM Mindfuck or The Eternal Return of dead economic theories. Comment on David Andolfatto on ‘Kalecki on the Political Aspects of Full Employment’.

RWER There are NO crank scientists in economics because economics is NOT a science. Comment on Blair Fix on ‘How do you spot a crank?’ See * below.

ES The time evolution of the most elementary economic system is given by the economic God Equation. See * below.

ES Economics: Not a pretty story. Comment on Bill Mitchell on ‘Be careful of what parades as academic research’.

MNE Economics: Not a pretty story. Comment on Bill Mitchell on ‘Be careful of what parades as academic research’.

BB Economics, MMT, and the corruption of science

Comment on Bill Mitchell on ‘If it quacks!’. See * below.

MNE Economics, MMT, and the corruption of science

Comment on Bill Mitchell on ‘If it quacks!’.

ES The futile search for “the most useful idea in economics”. Comment on Sandwichman on ‘What is the Most Useful Idea in Economics?’ and ‘War, Peace and the End of Shorter Hours’. Plus Do not recycle silly dialogues from the history of garbage economics.

MNE Another MMT shitshow. Comment on ‘Mnuchin says US must cut spending and reduce the deficit: Recipe for guaranteed recession’. Plus To bring money into the economy at the demand side is false because it has humongous distributional consequences for the present and the future. Plus

MMT policy is unethical, to begin with. Plus

Testing mathematical maturity.

MNE Get it: Progressives don’t tax the rich.

Comment on Bill Mitchell on ‘Tax the rich to counter carbon emissions not to get their money.

MNE Bill Mitchell cracks the spending whip over the Swabian Housewife. Comment on Bill Mitchell on ‘The German government celebrates its record surplus while infrastructure collapses’. Plus Bill Mitchell is known to be an incompetent scientist. Plus MMT academics are too stupid for the elementary algebra that underlies macroeconomics. Plus Either you don’t get it (= stupid) or you are part of the greatest financial fraud in modern times (= corrupt). Plus Economics is the study of the economy and NOT the study of economists and NOT the study of the Oligarchy. Plus MMT is no good for WeThePeople. Plus The BALANCE of the business sector is equal to the BALANCE of the government sector. Plus Marxianism is proto-scientific garbage — just like MMT and Walrasianism and Keynesianism and Austrianism and Orthodoxy and Heterodoxy and Pluralism and Hegel and Freud and the Analytische Sozialkritik.

MNE Bill Mitchell, MMT, Progressives: economists as Oligarchy hacks. Comment on Bill Mitchell on ‘The Tories in Britain have a clear way forward ― thanks to the Labour Party hacks’.

MNE Stephanie Kelton: “All deficits are good for someone” Yes, Someone=Oligarchy. Comment on Andrew Taylor/Stephanie Kelton ‘“All deficits are good for someone”: Visiting economist shrugs off debt concerns’.

MNE The problem with economics as a discipline.

Comment on Lars Syll/Tom Hickey on ‘Economics — too important to be left to economists’. Plus Economics is about the economy and NOT about economists.

LPS Lars Syll, MMT, and the other failures of New Economic Thinking. Comment on Lars Syll/Tom Hickey on ‘Does it — really — take a model to beat a model?’. See * below.

MNE Lars Syll, MMT and the other failures of New Economic Thinking. Comment on Lars Syll/Tom Hickey on ‘Does it — really — take a model to beat a model?’

MNE Note on Lars P. Syll's 'Is economics — really — predictable?'

MNE Note on Brian Romanchuk's 'MMT And Price Level Determination'.

MNE Is an old love blooming again?

BDL “Inhumane stupidity” ― bad economic policy as inevitable consequence of false economic theory.

Links on Brad DeLong on ‘Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency.’ See * below.

MNE This tells one that MMT’s policy of deficit-spending/money-creation is a free-lunch program for the Oligarchy. Plus Economics is above Warren Mosler’s intellectual pay-grade. The proof is in his White Paper. Plus The inclusion of transfers does NOT change the crucial relationship Public Deficit = Private Profit. Plus The question of different accounting methods does NOT arise at this point. Plus The axiomatically correct algebra implies (i) Public Deficit = Private Profit, (ii) MMTers are too stupid for elementary math, (iii) MMT’s policy of deficit-spending/money-creation is a free-lunch program for the Oligarchy.

BE Note on Ahmed Fares: This tells one that MMT’s policy of deficit-spending/money-creation is a free-lunch program for the Oligarchy. Plus Economics is above Warren Mosler’s intellectual pay-grade. The proof is in his White Paper. Plus From Warren Mosler’s ‘operational core’ follows NOTHING about the price level or other macroeconomic variables. Plus The axiomatically correct algebra implies (i) Public Deficit = Private Profit, (ii) MMTers are too stupid for elementary math, (iii) MMT’s policy of deficit-spending/money-creation is a free-lunch program for the Oligarchy.

MNE Why MMTers permanently explode myths of public deficits. Comment on Crispin Savage on ‘Visiting economist explodes myths of public deficits’.

ES The objective reality of economics. Comment on Barkley Rosser on ‘Is There An Objective Reality?’

WCI What’s the trouble with some Canadian economists? Comment on Nick Rowe on ‘Increased Price Flexibility is Destabilising in New Keynesian Models’.

BB Mankiw vs Mitchell ― another clown show.

Comment on Bill Mitchell on ‘A response to Greg Mankiw’. See * below.

MNE Mankiw vs Mitchell ― another clown show.

Comment on Bill Mitchell on ‘A response to Greg Mankiw’. Plus So in terms of elementary algebra, the economics textbooks of both Mankiw and Mitchell are proto-scientific garbage. Plus MMT is refuted on all counts. Plus The foundational question of macroeconomics is about how the balances of the different sectors are related. Plus All this is nothing but elementary algebra. The thing is that economists are too stupid for it from freshmen to Nobel laureates. Plus The living proof for the stupidity of the representative economist.

RWER Microfoundations are dead for 140+ years: high time to move on. Comment on Yoshinori Shiozawa on ‘Microfoundations and economic policy choices’. See * below.

BE Blowing smoke about bipartisan failure.

Comment on Brian Romanchuk on ‘A Skeptics Guide To Mankiw’s Skeptic’s Guide To MMT’.

ES (2) Mission accomplished: Economists as useful idiots of the Oligarchy. Links on Bill Mitchell on ‘My brief comment on the British election’. See * below.

RWER Links on Lars Syll on ‘Can governments ever run out of money?’. See * below.

BB MMT: Corbynism is dead, British Labour is next.

Comment on Bill Mitchell on ‘An evolving 6-point plan for British Labour’. See * below.

MNE MMT: Corbynism is dead, British Labour is next.

Comment on Bill Mitchell on ‘An evolving 6-point plan for British Labour’.

MRB Mission accomplished: Economists as useful idiots of the Oligarchy. See * below.

EV Links on Joseph E. Stiglitz’s “Now that the evidence is in, is it any wonder that trust in elites and confidence in democracy have plummeted?”

ES (1) Mission accomplished: Economists as useful idiots of the Oligarchy. Links on Bill Mitchell on ‘My brief comment on the British election’. See * below.

BB Mission accomplished: Economists as useful idiots of the Oligarchy. Links on Bill Mitchell on ‘My brief comment on the British election’. See * below.

RWER Trust in science? Yes, but economics is NOT a science. Links on Lars Syll on ‘Public trust in economists’. See * below.

LPS Trust in science? Yes, but economics is NOT a science. Links on Lars Syll on ‘Public trust in economists’. See * below.

MNE Trust in science? Yes, but economics is NOT a science. Links on Lars Syll on ‘Public trust in economists’.

ES Cross-posting: Economics ― the science that never was.

MRB Understanding socialism presupposes understanding profit. Comment on Michael Roberts/Tom Hickey on ‘Understanding socialism’. Plus The point is that Marx and Marxians have NO idea what profit is. Plus I do not blame Marx or any other economist for bad theorizing, I blame them for being too stupid for the elementary algebra that underlies macroeconomics.

MNE Understanding socialism presupposes understanding profit. Comment on Michael Roberts/Tom Hickey on ‘Understanding socialism’. Plus The fact is that Marx got profit wrong and this he has in common with MMTers. Plus Marx got the relationship between profit, exploitation, and class badly wrong. Plus Écrasez l'infâme. Plus Employment Theory has already been settled. Plus Marx always claimed that he was doing science. Of course, he was NOT. Plus Walrasians, Keynesians, Marxians, Austrians, MMTers violate scientific standards. Plus

I do not blame Marx or any other economist for bad theorizing, I blame them for being too stupid for the elementary algebra that underlies macroeconomics.

MRB Economics ― the science that never was.

Comment on Michael Roberts on ‘Economics as a social science’.

MNE Economics ― the science that never was. Comment on Michael Roberts on ‘Economics as a social science’.

RWER How Keynes got macro wrong and Allais got it right. Comment on Lars Syll on ‘Maurice Allais on empirics and theory’. See * below.

ES Occasional economics reminder: Get it econ suckers: microfoundations = false, macrofoundations = true.

RWER Get it econ suckers: microfoundations = false, macrofoundations = true. Comment on Lars Syll on ‘What is (wrong with) mainstream economics?’. See * below.

LPS How Keynes got macro wrong and Allais got it right. Comment on Lars Syll on ‘Maurice Allais on empirics and theory’. See * below.

LPS New Economic Thinking ― the definitive results.

Links on Lars Syll on ‘Rethinking economics in Copenhagen’. See * below.

BB Economic backstabbing: Bill Mitchell hits again.

Comment on Bill Mitchell on ‘Impending British Labour loss may reflect their ambiguous Brexit position’. See * below.

RWER Ending the pluralism of provably false economic theories with the long-overdue Paradigm Shift. Comment on Geoff Davies on ‘Starting again, and relating the schools’. Plus Economics is NOT a social science but a system science. The question is NOT how society works but how the economy works.

Plus For Orthodoxy and traditional Heterodoxy, the future shrinks to flush and down the scientific drain.

OWN Q: How are you going to pay for it? MMT: By stealth taxation!

RWER Swimming naked: economists and the Paradigm Shift. Links on Lars Syll on ‘Economics — enslaved by the wrong theory’. See * below.

MNE Link Fadhel Kaboub is an #EconBlocker.

MNE Gosh! the One Percent have gotten $21 trillion richer: Links on Distribution. Comment on Common Dreams on ‘'Eye-Popping': Analysis Shows Top 1% Gained $21 Trillion in Wealth Since 1989 While Bottom Half Lost $900 Billion. Plus Walrasians, Keynesians, Marxians, Austrians, MMTers are either stupid or corrupt or both.

ES How Randall Wray takes the piss out of the House Budget Committee. Refocussing Barkley Rosser’s ‘The End Of Decades Having Identities In The USA?’.

LPS How Randall Wray takes the piss out of the House Budget Committee. See * below.

MNE Link on CONGRESSIONAL TESTIMONY: Reexamining the Economic Costs of Debt—Statement by L. Randall Wray. Plus Nobody ever expected anything else given the scientific incompetence and the substandard IQ in economics.

MNE How Randall Wray takes the piss out of the House Budget Committee. Comment on New Economic Perspectives on ‘Wray Appearing Before Congress’.

MNE Links on Lars Syll’s ‘The origins of MMT’.

BB Bill Mitchell’s pure MMT teachings for British Labour. Comment on Bill Mitchell on ‘Invoking neoliberal framing and language is a failing progressive strategy (British Labour). See * below.

MNE Bill Mitchell’s pure MMT teachings for British Labour. Comment on Bill Mitchell on ‘Invoking neoliberal framing and language is a failing progressive strategy (British Labour).

NEP Mr. Wray goes to Washington. Comment on New Economic Perspectives on ‘Wray Appearing Before Congress’. See * below.

MNE Mr. Wray goes to Washington. Comment on New Economic Perspectives on ‘Wray Appearing Before Congress’. Plus MMT claims scientific superiority.

RWER Economics, philosophy, and the crapification of science. Comment on Lars Syll on ‘Why philosophy and methodology matter for economics’. Plus Lars Syll constantly violates the first practical rule of philosophy, that is, Be Honest. See * below. Plus

Economic methodology suffers since Adam Smith from the Fallacy of Insufficient Abstraction.

RWER Comment on Ken Zimmerman: Link to 'Economics is NOT a social science'. See * below.

MNE Comment on Matt Franko: 'Exploding the household fallacy'.

MRB Marx and Marxists ― too stupid for the elementary algebra of profit. Comment on Michael Roberts on ‘Marx’s double-edge law’. See * below.

MNE Marx and Marxists ― too stupid for the elementary algebra of profit. Comment on Michael Roberts on ‘Marx’s double-edge law’.

BB Econogenics: economists pose a hazard to their fellow citizens. Comment on Bill Mitchell on ‘The evidence from the sociologists against economic thinking is compelling’. See * below.

MNE Econogenics: economists pose a hazard to their fellow citizens. Comment on Bill Mitchell on ‘The evidence from the sociologists against economic thinking is compelling’.

MNE Swimming naked: economists and the Paradigm Shift. Comment and links on Lars Syll on ‘The essence of neoliberalism’.

RWER Swimming naked: economists and the Paradigm Shift. Comment and links on Lars Syll on ‘The essence of neoliberalism’. See * below.

MNE Links on Richard Murphy's 'The UK government is not like a household – and does not have a household type budget.'

EV Links on Joseph E. Stiglitz’s ‘The End of Neoliberalism and the Rebirth of History’

RWER Links on Neoliberalism. Comment on Lars Syll on ‘The essence of neoliberalism’. See * below.

PP Link to Exploding the household fallacy. Comment on Charles Adams on ‘The household fallacy’.

MNE Exploding the household fallacy. Comment on Charles Adams on ‘The household fallacy’.

MNE Macroeconomics and the fake History of Economic Thought. Comment on George Akerlof on ‘What They Were Thinking Then: The Consequences for Macroeconomics during the Past 60 Years’.

MNE Gosh! the One Percent have gotten $21 trillion richer: Links on Distribution. Comment on Eric Levitz on ‘The One Percent Have Gotten $21 Trillion Richer Since 1989. The Bottom 50% Have Gotten Poorer.’

MNE Links on Joseph E. Stiglitz’s ‘The End of Neoliberalism and the Rebirth of History’.

MNE Links on Neoliberalism. Comment on Luke Savage on ‘Neoliberalism? Never Heard of It’. See * below.

MNE Links on Christine Berry’s ‘Neoliberalism Tells Us We’re Selfish Souls — How Can We Promote Other Identities?’

ES Macroeconomics and the fake History of Economic Thought. Comment on George Akerlof on ‘What They Were Thinking Then: The Consequences for Macroeconomics during the Past 60 Years’ Plus The whole academic cohort got the elementary algebra of macro wrong. Plus I=S ⇒ false macro algebra ⇒ Keynes et al. Q=I−S ⇒ correct algebra. Plus Fake scientists always appeal to authority and majority. Plus I just bury macroeconomics from Keynes to Barkley Rosser at the Flat-Earth-Cemetery.

OWN Macroeconomics and the fake History of Economic Thought. Comment on George Akerlof on ‘What They Were Thinking Then: The Consequences for Macroeconomics during the Past 60 Years’.

EV Links on the Phillips Curve. Comment on Brad DeLong on ‘Is the Phillips Curve Dead or Is It Just Hibernating?’.

BDL Links on the Phillips Curve. Comment on Brad DeLong on ‘Is the Phillips Curve Dead or Is It Just Hibernating?’.

RWER Links on Lars Syll’s ‘Where economics went wrong’. See * below.

ES Why economists always seem to lose the fight against inequality. Comment on Editor on ‘Rising global income inequality is not inevitable in the future’. See * below.

RWER Why economists always seem to lose the fight against inequality. Comment on Editor on ‘Rising global income inequality is not inevitable in the future’.

RWER Link on 'Rising global income inequality is not inevitable in the future'. Plus The macroeconomic Profit Law shows us how to effectively “change the long- and short-term trends for the US.”

TWI The sectoral balances obfuscation: stupidity or corruption? Comment on Andrea Terzi on ‘Euro area sectors’ balances’.

RWER Links on Paul Krugman, proto-scientific impresario. Comment on Lars Syll on ‘Paul Krugman ― finally ― admits he was wrong!’. See * below.

LPS Links on Paul Krugman, proto-scientific impresario. Comment on Lars Syll on ‘Paul Krugman ― finally ― admits he was wrong!’. See * below.

MNE Links on Paul Krugman, proto-scientific impresario. Comment on Lars Syll on ‘Paul Krugman ― finally ― admits he was wrong!’. See * below.

MNE Criminals and the monetary order. Comment on Paul Koning on ‘If Nick’s tech-fueled counterfeiting story doesn’t explain why bank IOUs beat out coins, what does?’

RWER Scrap the EconNobel. Comment on Peter Dorman on ‘A Nobel for the Randomistas’. Plus The fraud of economists consists of telling the public that they are doing science while, in fact, they are doing agenda-pushing. See * below. Plus It is high time to sue the Bank of Sweden for damages and waste of the Swedish peoples’ money. Plus Economists spend TOO MUCH time with PsySoc.

MNE Scrap the EconNobel. Comment on Peter Dorman on ‘A Nobel for the Randomistas’.

ES Scrap the EconNobel. Comment on Peter Dorman on ‘A Nobel for the Randomistas’. Plus The EconNobel had NO scientific significance 50 years ago and has none this year. Plus The fraud of economists consists of telling the public that they are doing science while, in fact, they are doing agenda-pushing.

MNE Scrap the EconNobel. Comment on Alex Tabarrok on ‘The Nobel Prize in Economic Science Goes to Banerjee, Duflo, and Kremer’.

RWER MMT is refuted on all counts. For proof/details see cross-references MMT.

RWER Tribalism is NOT the problem of economics. Comment on Blair Fix on ‘Tribalism in Science (and Economics)’. Plus Economics has to move from false Walrasian microfoundations and false Keynesian macrofoundations and false heterodox Pluralism to true macrofoundations. Plus

Economics has NEVER been a science but a smokescreen for political agenda pushing. See * below.

RWER The state of MMT? Stone-dead! Comment on Brian Romanchuk/Tom Hickey on ‘The State Of MMT?’. See * below.

NEP The state of MMT? Stone-dead! Comment on Brian Romanchuk/Tom Hickey on ‘The State Of MMT?’. See * below.

BE The state of MMT? Stone-dead! Comment on Brian Romanchuk/Tom Hickey on ‘The State Of MMT?’. Plus

Scientifically MMT is crap and politically it is a fraud.

MNE The state of MMT? Stone-dead! Comment on Brian Romanchuk/Tom Hickey on ‘The State Of MMT? Plus Scientifically MMT is crap and politically it is a fraud.

UE Keynes ― the poster boy for the weakness of the economist’s mind. Comment on David Glasner on ‘Jack Schwartz on the Weaknesses of the Mathematical Mind’.

MNE Homo oeconomicus: the never-ending folk-psychological shitshow. Comment on Jonathan Rowe on ‘Why Economics Is Really Psychology on Steroids’.

ES Economics, math, pluralism, and corruption. Comment on Barkley Rosser on ‘Computable economics’.

EV Economics, math, pluralism, and corruption. Comment on Barkley Rosser on ‘Computable economics’. Plus Since Sonnenschein/Mantel/Debreu it is generally known that General Equilibrium Theory = mainstream economics is a failed approach. Plus

Von Neumann’s lethal blunder was to adopt the concept of utility/preferences from Neoclassics. Plus

Economists (left-center-right does NOT matter) are either stupid or corrupt or both and a hazard to their fellow citizens. Plus To replace the idea of scientific/mathematical truth with Pluralism is nothing else than the ultimate political corruption of science.

ES MMT/GND: Another case of bad people capturing a good cause. Comment on Nathan Tankus/Andrés Bernal/Raúl Carrillo on ‘The Green New Deal will be tremendously expensive. Every penny should go on the government’s tab.’

EV 'Link to 'What’s wrong with DSGE models is the axiom set.'

EV Link to 'The real trouble with Capitalism: stupid/corrupt economists.'

MNE MMT/GND: Another case of bad people capturing a good cause. Comment on Nathan Tankus/Andrés Bernal/Raúl Carrillo on ‘The Green New Deal will be tremendously expensive. Every penny should go on the government’s tab.’. Plus

MMT/GND deficit-spending/money-creation as environmental policy is fully in line with the ethics of Pentagon and Wall Street.

UE Link to The Levy/Kalecki Profit Equation is false.

UE What’s wrong with DSGE models is the axiom set.

Comment on David Glasner on ‘What’s Wrong with DSGE Models Is Not Representative Agency’.

NAC Links on "Capitalism. Time for a reset." Comment on the new FT campaign. See * below.

MNE Links on “Capitalism. Time for a reset.”

Comment on the new FT campaign. Plus The USA needs no planning because MMTers keeps Capitalism going with deficit-spending/money-creation.

SaM Link to 'The real trouble with Capitalism: stupid/corrupt economists. Comment on Chris Dillow on ‘The trouble with capitalism’.

MNE The real trouble with capitalism: stupid/corrupt economists. Comment on Chris Dillow/Tom Hickey on ‘The trouble with capitalism’.

MNE The dirty secret of Capitalism: Capitalist have NO idea how the economy works. Comment on Nick Hanauer on ‘The dirty secret of capitalism ― and a new way forward’.

MNE Swabian housewife vs Wall Street loan shark.

Comment on Bill Mitchell/Tom Hickey on ‘Germany to play smokes and mirrors again’. Plus MMTers do not even get the basics of economics right.

Blog-References 25

MNE Is MMT Alt-Right? No, worse, it is fake science.

Comment on Bill Mitchell/Tom Hickey on ‘On visiting Japan and engaging with conservative politicians’. Plus Because they claim to do science, MMTers have to be judged according to well-defined scientific criteria. Plus Economists fail already at the elementary level of putting 2 and 2 together.

MNE Links on Nat Dyer's 'How Fifty Years Of The ‘Nobel Prize’ In Economics Redrew Our Map Of Society.' See * below.

MNE Links on Karl Marx. Comment on Adam Booth on ‘Marxism vs Modern Monetary Theory.’

MNE Links on Karl Marx. Comment on Prabhat Patnaik/Tom Hickey on ‘Some comments about Marx’s epistemology’.

ES Is doing economics really depressing? Comment on Barkley Rosser on ‘Is Doing Environmental Economics Especially Depressing?’

EV The end of Mankiw and his Phillips Curve.

Comment on David Glasner on ‘Mankiw’s Phillips-Curve Agonistes’.

MNE The end of Mankiw and his Phillips Curve.

Comment on David Glasner on ‘Mankiw’s Phillips-Curve Agonistes’. Plus Both Keynes and Hawtrey have to be buried for good at the Flat-Earth-Cemetery.

UE The end of Mankiw and his Phillips Curve.

Comment on David Glasner on ‘Mankiw’s Phillips-Curve Agonistes’. Plus Both Keynes and Hawtrey have to be buried for good at the Flat-Earth-Cemetery.

MNE No False-Hero-Memorials. Comment on Barkley Rosser on ‘Martin Weitzman RIP’.

ES No False-Hero-Memorials. Comment on Barkley Rosser on ‘Martin Weitzman RIP’. Plus Actually, global warming is used by academic economists under the label of Green New Deal to deceive WeThePeople. Plus Fact is that the so-called free market economy is on the life support of the State and Wall Street is on the life support of the Central Bank. Plus There is a very serious problem in economics of scientific failure/fake/fraud.

MIN Links on the Economics Nobel.

BB Bill Mitchell’s dishonorable discharge from the sciences. Comment on Bill Mitchell on ‘Spending equals income whether it comes from government or non-government’. See * below.

MNE Bill Mitchell’s dishonorable discharge from the sciences. Comment on Bill Mitchell on ‘Spending equals income whether it comes from government or non-government’.

MNE Links on Diane Coyle’s ‘Once upon a time’

MNE On the deliberate creation of institutional shitholes. Comment on Brian Romanchuk/Matt Franko on ‘So Are We All MMTists Now?’.

ES Deficit cheerleaders ― the Oligarchy’s useful idiots. Comment on Peter Dorman on ‘Cheerleading for Austerity’. Plus It is very easy to test the competence/honesty of economists/politicians. Plus

Economists are NOT tolerated in the scientific community because of proven incompetence over the last 200+ years. Plus In economics, the publication in a journal is NOT a quality characteristic but a reliable indicator that both the author and reviewer are either stupid or corrupt or both. See * below.

MNE MMT undermines democracy.

MNE Economics: No method to the madness. Comment on Lars Syll/Tom Hickey on ‘Econometrics and the problem of unjustified assumptions’.

MNE Links on Marshall's scientific incompetence.

MM Economics ― not science, not ideology, just useful idiocy. Comment on Simon Wren-Lewis on ‘How should academic economics cope with ideological bias’.

OWN MMT: The new Center of the Universe of political fraud. Comment on Warren Mosler on ‘Full Employment AND Price Stability’.

ES Links on Economists are clowns and useful idiots in the political Circus Maximus. See * below.

MNE Links on Brian Romanchuk’s ‘Is There Really A Trade-Off Between Inflation And Unemployment?’

MNE Link to MMT: Redistribution as wellness program.

MNE Stephanie Kelton: MMT’s public farce. Comment on Tom Hickey on ‘MMT in the news’

MNE MMT: Wondering where the catastrophe is. Answering Michael Norman’s tweet.

MNE The apocalypse of stupidity. Comment on Richard Westra/Tom Hickey on ‘Apocalypse economics and economic apocalypse’.

MNE Link to Poor Wicksell — abused as a testimonial for MMT.

BB How MMT disgraces itself. Comment on Bill Mitchell/Tom Hickey on ‘When the Left disgraces itself’. See * below.

MNE How MMT disgraces itself. Comment on Bill Mitchell/Tom Hickey on ‘When the Left disgraces itself’. Plus The true theory is the precondition for understanding history.

RWER After 200+ years even economics becomes a science ― or does it? Comment on Ikonoclast on ‘Bringing science into economics must necessarily entail measurements in the scientific units’. Plus

The First Economic Law consists of unit-free ratios and satisfies Buckingham’s π theorem. See * below.

MNE After 200+ years even economics becomes a science ― or does it? Comment on Ikonoclast on ‘Bringing science into economics must necessarily entail measurements in the scientific units’. Plus

The First Economic Law consists of unit-free ratios and satisfies Buckingham’s π theorem.

MNE Right policy depends on true theory. Comment on Barkley Rosser on ‘Origin of the 2 Percent Inflation Target’.

ES Right policy depends on true theory. Comment on Barkley Rosser on ‘Origin of the 2 Percent Inflation Target’. Plus Note that Samuelson’s ‘Phillips’ Curve is a fake. Plus There is NO trade-off between inflation and unemployment, just the opposite.

LPS MMT undermines democracy. Comment on Lars Syll on ‘Everything you want to know about MMT’.

MNE MMT undermines democracy. Comment on Lars Syll on ‘Everything you want to know about MMT’.

MRB Circus Maximus: Economics as entertainment, personality gossip, virtue signaling, and lifestyle promotion. Comment on Michael Roberts on ‘The world’s scariest economist?’. See * below.

MNE Circus Maximus: Economics as entertainment, personality gossip, virtue signaling, and lifestyle promotion. Comment on Michael Roberts on ‘The world’s scariest economist?’.

MNE Trump and MMT: Make profits great again.

Comment on Matt Franko on ‘Must be a libertarian bad dream …’.

JWM The decisive reason to worry about government debt. Comment J. W. Mason on ‘A Baker’s Dozen of Reasons Not to Worry about Government Debt’. Plus

Distribution is the problem of MMT policy and nothing else. See * below.

MNE The decisive reason to worry about government debt. Comment J. W. Mason on ‘A Baker’s Dozen of Reasons Not to Worry about Government Debt’.

MNE Incompetence — the original sin in economics.

Comment Lars Syll on ‘Deductivism — the original sin in economics’. Plus The stupidity of Heterodoxy is the life insurance of Orthodoxy.

BB MMT, voodoo, and dead-horse-beating. Comment on Bill Mitchell on ‘Voodoo economic revisionism abounds ― and it is not MMT doing the voodoo’. See * below.

MNE MMT, voodoo, and dead-horse-beating.

Comment on Bill Mitchell on ‘Voodoo economic revisionism abounds ― and it is not MMT doing the voodoo’. Plus 'Evil fiat funny money' is not the basic problem of the monetary economy.

BB Bill Mitchell ― Wall Street’s hitman keeps an eye on MMT defeatists. Comment on Bill Mitchell on ‘There are no financial risks involved in increased British government spending’. See * below.

MNE Bill Mitchell ― Wall Street’s hitman keeps an eye on MMT defeatists. Comment on Bill Mitchell on ‘There are no financial risks involved in increased British government spending’.

NAK The worthlessness of value theory. Comment on Matias Vernengo on ‘Why do we need a theory of value?’.

MNE The worthlessness of value theory. Comment on Matias Vernengo on ‘Why do we need a theory of value?’. Plus One cannot do Price Theory and Value Theory without taking the macroeconomic balances equation into account. Plus The interdependence of markets is a reality.

ES If you can’t make it, fake it. Comment on Barkley Rosser’s ‘A Half Century Since Apollo 11 Launched To The Moon’.

MNE Prophet Stephanie divines the seizure of the means of production of currency. Comment on Yuko Takeo/Masahiro Hidaka on ‘MMT’s Kelton Sees Central Banks Quietly Yielding to Governments’.

MNE How Stephanie Kelton brain-washes a lovely young English girl. Comment on Planet Money on ‘Episode 866: Modern Monetary Theory’.

MNE The right and the wrong way to bring money into the economy. Comment on Dirk Ehnts/Skender Fani on ‘Modern Monetary Theory’s promise’.

MNE A less than 320 words explanation of why MMT is a fraud. Comment on Warren Mosler/Eric Peters on ‘An MMTer Explains MMT In 320 Words’.

MRB Profit analysis ― another exercise in economic deception. Comment on Michael Roberts on ‘A profits recession?’ Plus This is not funny but proves than economists are too stupid for science. Plus Marx is a side issue, he is only one of many who did not know what profit is. Plus Marx proved nothing except that he was an incompetent scientist who NEVER understood what profit is and how the economy works. Plus Marx’s scheme of simple/expanded reproduction is no less absurd. Plus The macroeconomic Profit Law holds for capitalism and communism and everything in-between. Plus Link to Capitalism, poverty, exploitation, and cross-over exploitation.

MNE Profit analysis ― another exercise in economic deception. Comment on Michael Roberts on ‘A profits recession?’ Plus The macroeconomic Profit Law holds for capitalism and communism and everything in-between.

LPS Lars Syll ― a particularly stupid/corrupt fake scientist. Comment on Lars Syll/Imad Moosa on ‘Econometrics ― a con art with no relevance whatsoever to real world economics’. See * below.

RWER The surefire way to abolish billionaires. Comment on Ken Zimmerman on ‘Robert Reich suggests 5 ways to abolish billionaires’.

MNE Asad Zaman marches with the Zeitgeist down a blind alley. Comment on Asad Zaman/Tom Hickey on ‘My Journey from Theory to Reality’.

BB MMTers are false Progressives and false Friends-of-the-People. Comment on Bill Mitchell on ‘”Sound finance” prevents available climate solution with massive jobs potential’. See * below.

MNE MMTers are false Progressives and false Friends-of-the-People. Comment on Bill Mitchell on ‘”Sound finance” prevents available climate solution with massive jobs potential’.

LPS The only thing we can learn from economic models is what proto-scientific garbage looks like. Comment on Lars Syll on ‘What can we learn from economic models?’. See * below.

MNE How to spot economics trolls. Comment on Craig Murray on ‘How To Spot A Twitter Troll’.

MNE Link to Zamanomics.

MNE Is MMT good for WeThePeople or for the Oligarchy? Comment on Bill Mitchell on ‘Why the financial markets are seeking an MMT understanding ― Part 2’.

LPS How incompetent are economic methodologists? Very! Comment on Nancy Cartwright/Lars Syll on ‘The logic of economic models’. See * below.

MNE How incompetent are economic methodologists? Very! Comment on Nancy Cartwright/Lars Syll on ‘The logic of economic models’.

MNE MMT and the woes of useful political idiots.

Comment on Bill Mitchell on ‘Why the financial markets are seeking an MMT understanding’.

BB MMT and the woes of useful political idiots.

Comment on Bill Mitchell on ‘Why the financial markets are seeking an MMT understanding’.

See * below.

EV Link to 'Opportunity cost ― another case of poor economic logic.'

CT Link to 'Opportunity cost ― another case of poor economic logic.'

MNE Opportunity cost ― another case of poor economic logic. Comment on John Quiggin on ‘Opportunity cost, MMT and public spending’.

BB Totally schizo ― MMT and policy. Comment on Bill Mitchell on ‘The European Union once again reveals why it should be dissolved’. See * below.

MNE Totally schizo ― MMT and policy. Comment on Bill Mitchell on ‘The European Union once again reveals why it should be dissolved’.

EV Link to 'The Palgrave Dictionary ― a comprehensive collection of False-Hero-Memorials.'

RWER Zamanomics. Comment on Asad Zaman on ‘MMT macro final exam’. See * below.

ES The Palgrave Dictionary ― a comprehensive collection of False-Hero-Memorials. Plus Economics is a failed science and the Bank of Sweden fake Nobel is the most fraudulent of all False-Hero-Memorials. Plus What I actually say is that ECONOMISTS are too stupid for the elementary mathematics that underlies macroeconomics. This is a provable fact. Plus

Economics is an intertemporal zero-sum game and the n+1th player is the future. This is the reason why capitalism will eventually break down.

EV Profit and Distribution Theory is false for 200+ years.

BDL Links on 'Thomas Piketty and Emmanuel Saez (2002-2018): Income Inequality in the United States'.

MNE Link to 'Econ 101: Economists flunk the intelligence test at the first hurdle.'

IHE Econ 101: Economists flunk the intelligence test at the first hurdle. Links on John Warner’s ‘Indoctrinated by Econ 101’.

MNE Econ 101: Economists flunk the intelligence test at the first hurdle. Links on John Warner’s ‘Indoctrinated by Econ 101’. See * below.

MNE Economics as target group marketing. Comment on Matt Franko on ‘AOC Gardening’.

MNE Links on Peter Cooper’s ‘Labor Complexity in Relation to Aggregate Marxian Value’.

BB MMT: The communicative war on budget-balancers. Comment on Bill Mitchell on ‘A leopard never changes its spots ― Jens Weidmann, ECB President aspirant’. See * below.

MNE MMT: The communicative war on budget-balancers. Comment on Bill Mitchell on ‘A leopard never changes its spots ― Jens Weidmann, ECB President aspirant’.

MNE Macro ignorance: Why Simon Wren-Lewis does not come to grips with the plain MMT-fraud. Links on Simon Wren-Lewis on ‘Bill Mitchell’s fantasy about Labour’s fiscal rule’.

BB MMT has an offer that Labour cannot refuse.

Comment on Bill Mitchell/Thomas Fazi on ‘Seize the Means of Production of Currency ― Part 3’.

MNE MMT has an offer that Labour cannot refuse. Comment on Bill Mitchell/Thomas Fazi on ‘Seize the Means of Production of Currency ― Part 3’.

MM Macro ignorance: Why Simon Wren-Lewis does not come to grips with the plain MMT-fraud. Links on Simon Wren-Lewis on ‘Bill Mitchell’s fantasy about Labour’s fiscal rule’ See * below.

MM Economic policy and the skirmishes of failed/fake scientists. Comment on Simon Wren-Lewis on ‘Bill Mitchell’s fantasy about Labour’s fiscal rule’. See * below.

MNE The economist as storyteller. Comment on Caitlin Johnstone on ‘Propaganda Is The Root Of All Our Problems’.

ES Are economics professors really that incompetent? Yes! Comment on Lars Syll on ‘Wren-Lewis vs MMT’.

LPS Are economics professors really that incompetent? Yes! Comment on Lars Syll on ‘Wren-Lewis vs MMT’. See * below.

MNE Are economics professors really that incompetent? Yes! Comment on Lars Syll on ‘Wren-Lewis vs MMT’.

BB MMT’s true program. Comment on Bill Mitchell/ Thomas Fazi on ‘Seize the Means of Production of Currency ― Part 2’.

MNE MMT’s true program. Comment on Bill Mitchell/ Thomas Fazi on ‘Seize the Means of Production of Currency ― Part 2’.

TBA G. L. S. Shackle: Not such a #GreatThinker.

Comment on The British Academy on ‘Great Thinkers: John Kay FBA on G. L. S. Shackle FBA’. See * below.

BB MMT: A new myth for WeThePeople. Comment on Bill Mitchell on ‘Seize the Means of Production of Currency’. See * below.

MNE MMT: A new myth for WeThePeople. Comment on Bill Mitchell on ‘Seize the Means of Production of Currency’.

ES Economics textbooks ― tombstones at the Flat-Earth-Cemetery. Links on Peter Dorman on ‘CORE and Periphery in the Reform of Econ 101’. Plus The CORE textbook is scientifically worthless.

ES Economics textbooks ― tombstones at the Flat-Earth-Cemetery. Links on Peter Dorman on ‘CORE and Periphery in the Reform of Econ 101’.

MNE MMT: A Trojan Horse for Labour courtesy of the Oligarchy. Links on Dan McCurry ‘Why Labour shouldn’t rule out Modern Monetary Theory’. See * below.

LPS Thomas Sargent, fake scientist. Comment on Lars Syll on ‘An interview with Tom Sargent’.

See * below.

MNE Against the mainstream! Against MMT!

Comment on Bill Mitchell on ‘How social democratic parties erect the plank and then walk it. See * below.

MNE For MMT = For the Oligarchy. Comment on Thomas Fazi/Bill Mitchell on ‘For MMT’.

BB Against the mainstream! Against MMT!. Comment on Bill Mitchell on ‘How social democratic parties erect the plank and then walk it’. See * below.

MNE Links on Michael Roberts’ ‘Keynes: socialist, liberal or conservative?’ Plus Keynes was a political agenda pusher, NOT a scientist. Plus Keynes had NO idea of profit. Plus Right question “Keynes: scientist or useful political idiot?”

NEP Link to Controlled demolition of MMT ― an exercise in elementary logic. See * below.

MNE Controlled demolition of MMT ― an exercise in elementary logic. Comment on Randall Wray on ‘JAPAN DOES MMT?’.

MNE Lost post. Link.

MNE Links on MMT-Progressives push Wall Street’s agenda. Comment on James Meadway/TRIBUNE on ‘Against MMT’. See * below.

MNE Quick MMT 101 refutation. Comment on Scott Fullwiler on ‘Quick(?) MMT 101 lesson’.

LPS Links on History and Economics. Comment on Lars Syll on ‘History matters!’. See * below.

MNE Dialectic: the swampies’ methodology of choice

Comment on Matt Franko on ‘Dialectic Method’.

BB The missing elephant of full employment policy.

Comment on Bill Mitchell on ‘Talking of elephants ― plain old, garden variety fiscal policy’. See * below.

MNE The missing elephant of full employment policy.

Comment on Bill Mitchell on ‘Talking of elephants ― plain old, garden variety fiscal policy’.

EV MMT: doom or survival? Comment on Stephanie Kelton on ‘Modern Monetary Theory Is Not a Recipe for Doom’.

MNE MMT: doom or survival? Comment on Stephanie Kelton on ‘Modern Monetary Theory Is Not a Recipe for Doom’.

BLO MMT: doom or survival? Comment on Stephanie Kelton on ‘Modern Monetary Theory Is Not a Recipe for Doom’.

MNE Comment on L. Randall Wray’s ‘How to Pay for the Green New Deal’.

NEP Comment on L. Randall Wray’s ‘How to Pay for the Green New Deal’.

BDL Finally, the embarrassment of economics is over.

Comment on Robert Heilbroner/Brad DeLong on ‘The Embarrassment of Economics’.

MNE Finally, the embarrassment of economics is over. Comment on Robert Heilbroner/Brad DeLong on ‘The Embarrassment of Economics’.

OWN No MMT illusions! YOU are going to pay for it.

LPS Links on Austerity. Comment on Robert Skidelsky/Lars Syll on ‘Alesina’s ‘expansionary austerity’ — a tale of scientific delusion’. See * below.

MNE Links on McKinsey’s ‘A new look at the declining labor share of income in the United States’. See * below.

LPS You know you are in the political Circus Maximus when economists talk about Democracy or Liberty.

Comment on Warren Mosler on ‘Entweder wir glauben an die Demokratie oder nicht; Either we believe in Democracy or not’. See * below.

MNE You know you are in the political Circus Maximus when economists talk about Democracy or Liberty. Comment on Warren Mosler on ‘Entweder wir glauben an die Demokratie oder nicht; Either we believe in Democracy or not’.

TRU MMT and the Green New Deal: Where is the snag? (II). Comment on Richard Murphy on ‘Growth, MMT and the Green New Deal’.

MNE MMT and the Green New Deal: Where is the snag? (II). Comment on Richard Murphy on ‘Growth, MMT and the Green New Deal’.

MNE Just one more day: How MMT delays the breakdown of Capitalism. Comment on Bill Mitchell on ‘Japan Finance Minister getting paranoid about MMT’.

BB Just one more day: How MMT delays the breakdown of Capitalism. Comment on Bill Mitchell on ‘Japan Finance Minister getting paranoid about MMT’. See * below.

MNE MMT and the Green New Deal: Where is the snag?. Comment on Randall Wray on ‘How To Pay For The War’.

NEP Link to 'How to pay for the war and to be bamboozled by economists.' See * below.

MNE How to pay for the war and to be bamboozled by economists. Comment on Randall Wray on ‘How To Pay For The War’.

HET MMT, money, value, and transcendental Capitalism. Comment on Peter Cooper on ‘Currency Acceptance, Currency Value, and Transcending Capitalism’.

MNE MMT, money, value, and transcendental Capitalism. Comment on Peter Cooper on ‘Currency Acceptance, Currency Value, and Transcending Capitalism’.

ES Economists’ silly kindergarten games. Comment on Barkley Rosser on ‘Robert J. Samuelson Denounces Economists’. Plus Another silly kindergarten game economists play is the peer-recommendation/mutual-hype/self-congratulation game. Plus The finer points of logic, though, are a moot point among the confused confusers of economics. Plus Political economists are agenda pushers, theoretical economists are scientists. Plus

For 200+ years now, economists do not know what profit is. Because of this foundational blunder, economics is scientifically worthless.

BB Economics debate ― just another variant of hardcore wrestling. Comment on Bill Mitchell on ‘Inflation hysteria as central bankers discuss yield curve control’. See * below.

MNE Economics debate ― just another variant of hardcore wrestling. Comment on Bill Mitchell on ‘Inflation hysteria as central bankers discuss yield curve control’.

MNE Links on Asad Zaman’s ‘Defining Islamic Economics’.

EV Economics a science? Surely you are joking, Mr. Cochrane. Comment on John Cochrane on ‘Smith, MMT, and science in economics’. See * below.

MNE Links on Dirk Ehnts’ ‘Schumpeter on Knapp’.

TGE Economics a science? Surely you are joking, Mr. Cochrane. Comment on John Cochrane on ‘Smith, MMT, and science in economics’.

BB Settling the MMT―Inflation issue for good.

Comment on Bill Mitchell on ‘US Congress hypocrites lose the plot’. See * below.

MNE Settling the MMT―Inflation issue for good.

Comment on Bill Mitchell on ‘US Congress hypocrites lose the plot’.

AM Links on Andy Merrifield’s ‘Marx at his limits’. See * below.

MNE Links on Andy Merrifield’s ‘Marx at his limits’. See * below.

MNE Links on Dirk Ehnts’ ‘Keynes on the quantity theory and techniques of recovery’.

MNE Economics ― nothing but claptrap, twaddle, drivel, slip-slop, wish-wash, waffle, and proto-scientific garbage. Comment on Peter Cooper on ‘Currency Value in Terms of Socially Necessary Labor’. Plus The value of money does not depend on “Socially Necessary Labor”.

ES Economics: The greatest scientific hoax in modern times. Comment on Ikonoclast on ‘Mathematics and the constructions and emergent outcomes of socioeconomic phenomena’. Plus Barkley Rosser either has not realized the dismal state of economics or he is part of the false-hero-memorial scam. Plus

“I am sorry, but I am not gong to bother 'intepreting' Egmont. He does seem to have lost it calling you an 'asshole.'” Plus Economics is a fake science beginning with economic textbooks#2 and ending with the faux Nobel. Plus Which of the two macroeconomic sectoral balances equation is true? Plus Science is binary true/false with NOTHING in between. Plus Economics is proto-scientific garbage to this day because economists are too stupid for the elementary mathematics that underlies macroeconomics.

To be continued at Onblog_6

* AXEC does not guarantee that their comments can at any time be recovered from where they have been posted initially because the availability depends on the publication policy of the blog owner which is implicitly accepted on entering a debate. Normally, the content can be regained from the AXEC Blog.

Alternatively, search posts with Google: "Egmont Kakarot-Handtke" + search item + ....