Situational analysis

Science is a trial-and-error process: ignorance is the starting point, great insights are few and far between. Economics is a failed science. The awkward mixture of theoretical and political economics has not produced satisfactory results with regard to material and logical consistency. Hence theoretical economics has to be extricated from political economics and reconstructed upon objective foundations. Advanced theory, i.e. assertions beyond the informative description of various subfields, is largely vacuous. Description, unsubstantiated modeling, psychologism, biologism, physicalism, sheer toolism, plain observationism, myopic empiricism, historicism, exegesis, rhetoric, or metaphor do not make a consistent and empirically valid theory. Orthodoxy cannot give a theoretical account of how the actual economy works, neither can Heterodoxy. Practitioners and down-to-earth empiricists cannot see beyond their noses. Within the accustomed conceptual frameworks, real progress is impossible. The situation calls for a new paradigm. The new paradigm calls for objective formal foundations. In the most general terms, the economics paradigm shift consists of switching from the behavior-centric bottom-up approach to the structure-centric top-down approach. This is comparable to the Copernican turn from Geo-centrism to Helio-centrism.

 

AXEC's mission is

  • to explain how the monetary economy works,

  • to elaborate the logical and material implications of the structural-systemic axiom set,

  • to identify the errors/mistakes in orthodox and heterodox approaches,

  • to communicate research results in the form of working papers that are freely accessible on SSRN,

  • to provide an AXECwiki knowledge platform,

  • to encourage independent testing of AXEC theorems,

  • to integrate viable pieces of existing theories into the overarching structural axiomatic paradigm,

  • to sharpen the demarcation between science/nonscience in economics and to bring forward science,

  • to protect the intellectual property rights of all contributors to the AXEC Project,

  • to accomplish the first complete paradigm shift on the web.

 

 

AXEC Project

Egmont Kakarot-Handtke

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80801 München

Germany

 

M +491792494356

F  +4932123491280

E  info@axec.org

 

Application of the AXEC® set

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Personal Lecture, request details

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AXEC® Registered Trademark

DPMA 30 2013 010 955



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... browse the AXEC working papers

 

How the Intelligent Non-Economist can Refute Every Economist Hands Down 2015

 

Major Defects of the Market Economy 2015

 

Essentials of Constructive Heterodoxy: Financial Markets 2015

 

Essentials of Constructive Heterodoxy: Behavior 2015

 

Essentials of Constructive Heterodoxy: Institutions 2015

 

Essentials of Constructive Heterodoxy: Employment 2015

 

Essentials of Constructive Heterodoxy: Profit 2015

 

Essentials of Constructive Heterodoxy: Money, Credit, Interest 2015

 

Essentials of Constructive Heterodoxy: Aggregate Demand 2015

 

Essentials of Constructive Heterodoxy: Say's Law 2015

 

Essentials of Constructive Heterodoxy: The Market 2015

 

Onblog Economics Muddle Busting 2014

 

Economics for Economists 2014

 

The Profit Theory is False Since Adam Smith. What About the True Distribution Theory? 2014

 

The Synthesis of Economic Law, Evolution, and History 2014

 

The Three Fatal Mistakes of Yesterday Economics: Profit, I=S, Employment 2014

 

The Law of Supply and Demand: Here it is Finally 2014

 

Towards Full Employment Through Applied Algebra and Counter-Intuitive Behavior 2014

 

Objective Principles of Economics 2014

 

Profit for Marxists 2014

 

The Truly General Theory of Employment: How Keynes Could Have Succeeded 2014

 

The Logic of Value and the Value of Logic 2014

 

Mr. Keynes, Prof. Krugman, IS-LM, and the End of Economics as We Know It 2014

 

Loanable Funds vs. Endogenous Money: Krugman is Wrong, Keen is Right 2014

 

Exchange in the Monetary Economy 2014

 

Mathematical Proof of the Breakdown of Capitalism 2014

 

Say's Law: A Rigorous Restatement 2013

 

Debunking Squared 2013

 

The Ideal Economy: A Prototype 2013

 

Redemption and Depression 2013

 

The Structural Price Mechanism 2013

 

Understanding Profit and the Markets: The Canonical Model 2013

 

How to Get Rid of Supply-Demand-Equilibrium 2013

 

Toolism! A Critique of Econophysics 2013

 

The Calculating Auctioneer, Enlightened Wage Setters, and the Fingers of the Invisible Hand 2013

 

Walras's Law of Markets as Special Case of the General Period Core Theorem 2013

 

Settling the Theory of Saving 2013

 

Confused Confusers: How to Stop Thinking Like an Economist and Start Thinking Like a Scientist 2013

 

Intertwined Real and Monetary Stochastic Business Cycles 2012

 

Make a Bubble, Take a Free Lunch, Break a Bank 2012

 

Keynes's Employment Function and the Gratuitous Phillips Curve Disaster 2012

 

The Common Error of Common Sense: An Essential Rectification of the Accounting Approach 2012

 

General Formal Foundations of the Virtuous Deficit-Profit Symmetry and the Vicious Debt Deflation 2012

 

Crisis and Methodology: Some Heterodox Misunderstandings 2012

 

Geometrical Exposition of Structural Axiomatic Economics (I): Fundamentals 2012

 

The Rhetoric of Failure: A Hyper-Dialog About Method in Economics and How to Get Things Going 2012

 

Zur axiomatische Einheit von Kreislauf-, Geld-, Preis- und Verteilungstheorie 2012

 

Income Distribution, Profit, and Real Shares 2012

 

Taxes, Profits, and Employment: A Structural Axiomatic Analysis 2012

 

The Emergence of Profit and Interest in the Monetary Circuit 2011

 

Trade, Productivity, Income, and Profit: The Comparative Advantage of Structural Axiomatic Analysis 2011

 

Why Post Keynesianism is Not Yet a Science 2011

 

The Value of Water and Diamonds: Back to Square One 2011

 

Matter Matters: Productivity, Resources, and Prices 2011

 

The Propensity Function as General Formalization of Economic Man/Woman 2011

 

The Wine Maker's Business and the Origin of Interest in a Monetary Economy 2011

 

When Ricardo Saw Profit, He Called it Rent: On the Vice of Parochial Realism 2011

 

Geometrical Exposition of Structural Axiomatic Economics (II): Qualitative and Temporal Aggregation 2011

 

Increasing Returns and Stability 2011

 

Primary and Secondary Markets 2011

 

Squaring the Investment Cycle 2011

 

Uniform Profit Ratios 2011

 

Reconstructing the Quantity Theory (II) 2011

 

Reconstructing the Quantity Theory (I) 2011

 

Unemployment Out of Nowhere 2011

 

Exploitation and Its Unintended Outcomes. An Axiomatic View of Marx's Surplus Value. 2011

 

Properties of an Economy Without Human Beings 2011

 

The Coherency of Money, Profit, Price, and Distribution 2011

 

Beginning, Crises, and End of the Money Economy 2011

 

What is Wrong With Heterodox Economics? Kalecki's Profit Theory as an Example 2011

 

Schumpeter and the Essence of Profit 2011

 

Keynes's Missing Axioms 2011

 

The Pure Logic of Value, Profit, Interest 2011

 

Scrap the Lot and Start Again 2011

 

***

 

Alternative access 

 

SSRN              current updating, latest revisions of working papers, direct downloads

MPRA             documentation, first versions of working papers, direct downloads

ECONBIZ       third party documentation, partly references and partly indirect downloads

COMMONS    equations, theorems, laws, graphics

 

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