ContentThe content of this website has been carefully prepared. However, AXEC does not guarantee the accuracy, completeness, or quality of the information provided, or that it is up-to-date. Liability claims against AXEC in respect of material or immaterial damage caused by the use or non-use of the information offered or by inaccurate or incomplete information are in principle ruled out provided that there is no provable culpable intent or gross negligence on AXEC’s part. AXEC expressly reserves the right to alter, amend or delete parts of the site or the entire offering, or to cease publication, without prior notice.

Precis: This site is about theoretical economics and claims that AXEC's objective-structural-systemic-macro axiom set is superior to conventional formal starting points of economic analysis.  This claim is open to scrutiny according to the criteria of formal and material consistency. One is not obligated to apply the structural axiom set provided one possesses already the correct formal foundations, which is improbable given the unacceptable state of conventional economics. The selection or acceptance of axioms is a matter of individual scientific serendipity, freedom, and responsibility, that is, by no means arbitrary. The macro- axiomatic variables are measurable and the logical implications of the axiom set are testable in principle. Should an independent test lead to the refutation of one of the AXEC theorems notice will be given here. No such test is known to AXEC as of February 2021. AXEC anticipates the corroboration of the macro-axiom set from independent testing. In view of all relevant circumstances, there is good reason to apply the macro-axiom set as clearly defined and the most promising analytical starting point of economic research. As far as one can see, AXEC is the sole economic Paradigm that embodies a consistent profit theory, which in turn is the precondition for the scientific understanding of the market economy.


Original Research: The substitution of behavioral axioms by structural-systemic axioms constitutes a Paradigm Shift. Paradigms are incommensurable. The shift implies that AXEC refuses conventional approaches because of their methodological defects. Empirical research that consists mainly of data collection and state-of-the-art statistical analysis is not affected by the Paradigm Shift; only the interpretation of results may be affected. AXEC starts anew, it does not join any conventional approach in the attempt to refine or correct the incorrigible. By its very nature, original research is found at first in one place only; it is, for instance, excluded from Wikipedia. From AXEC's original research follows that the entry Profit in Wikipedia, and probably in other encyclopedias and similar publications, is unacceptable according to the criteria of logical and material consistency, which are the ultimate scientific criteria (see Profit and Essentials and Textbooks in AXECwiki). According to Wikipedia and others, the corpus of conventional economic literature is a reliable source, according to AXEC's original research, it is not (see Profit). It is the correct axiomatic foundation that makes an approach reliable in the first place. All other criteria are secondary and potentially misleading. Original research returns to the basics and is almost inevitably antithetic to the common sense of the day. However, critique or refutation is not an end in itself. The constructive originality of the structural-systemic axiom set consists of formal and material consistency.


Authenticity: AXEC does not actively scan the internet, the blogosphere, or social media whether someone gives an account/ interpretation/assessment of the structural axiomatic Paradigm. Because of rigorous formalization, any misapprehension of the Paradigm is virtually impossible. However, given the substandard level of some economics blogs/bloggers, it cannot be excluded that misrepresentations exist at a given point in time. Third-party comments, approval/disapproval, recommendations, and all the rest of non-scientific communication are neither encouraged nor authorized by AXEC; requested are independent empirical tests. Sophisticated users are supposed to recognize defective arguments and check upon them. The original sources are available on SSRN. There is not the slightest uncertainty about the objective content of the structural-systemic axiom set — it is indeed the defining property of axioms that they leave virtually no room for misconstruction. What is not yet known is the full scope of implications. Therefore, there is plenty of room for exploration and discovery (see Terms of use).


Focus: AXEC does not enter into discussions other than formal and material consistency, nor about what other economists might have really meant but have not expressed clearly, nor about philosophical, political, sociological, psychological, or other aspects of the economy, nor about individual merit/demerit of economists past and present. The focus is on how the actual economy — and in particular the profit mechanism — works. The existence of other aspects is, of course, not denied, they are excluded for methodological reasons. There is no hindrance to reintegrate them once the consistent economic theory is established.


Update: AXEC will take notice of serious attempts to logically or empirically refute the systemic axioms/theorems and will make, if necessary, corrections/ clarifications/rebuttals in the working papers and on this site. No serious attempt is known to AXEC as of February 2021.


LinksAXEC is not responsible for the content, availability, correctness, or accuracy of the linked sites or of the offerings, links, or advertisements therein. It is not liable for illegal, incorrect, or incomplete content or in particular for damages arising from the use or non-use of the information provided on linked sites.


CopyrightThe copyright for any material created by AXEC is reserved. Any duplication or use of objects such as images, diagrams, sounds or texts in other electronic or printed publications is not permitted without AXEC's agreement. All rights of contributors to AXECwiki remain in the hands of the contributors. When you plan to use the content of this website or of the working papers please send first a notification to

Trademark: The AXEC axiom set and its logical implications are protected by trademark. See also Terms of use. The permission to use the AXEC axiom set does not imply any endorsement or liability for the content produced with it. The authentic interpretation of the structural-axiomatic formal core, as far as it has been explicitly worked out, remains with AXEC (see working papers and blog). Clearly, the deductive content of the axiom set is much greater than this. AXEC is neutral with regard to the content that is produced by licensees within actually given legal bounds. The rights and responsibilities for every content produced by referring to the structural-systemic axiom set remain fully with the licensee. AXEC encourages exploration/experimentation but does not take responsibility for the correct application of scientific methods by users of the new formal core of theoretical economics. AXEC does not engage or participate in any marketing, PR, or promotion activities that are inappropriate in scientific communication, which consists essentially of axiomatization, argument, and proof.


Disclaimer (I): No kind of agreement or contract is created between you and the owners or users of this site, the owners of the servers upon which it is housed, individual contributors to these pages, or project administrators, sysops, or anyone else connected with the AXEC project subject to your claims against them directly.


Disclaimer (II): Research reported in AXEC working papers is not the result of a for-pay consulting relationship; there is no conflict of interest of any sort; the author, and exclusively the author, has the right to deposit the papers in open access repositories and to submit them for publication; parts of an arbitrary length of any of the working papers are and will be used by the author in other papers, books, websites, blogs, and other media without explicit reference. The right to make corrections or minor textual improvements on re-utilization is reserved.


Disclaimer (III): The purpose of the AXEC Project is not to hand out advice about how to avoid taxes, to get rich on the stock market, to be successful in business, to increase the wealth of nations, to run an economy, to maximize welfare, to prevent national/global bankruptcy, to improve the institutional setup, to get out of national/global depression, or how to save humankind or a subgroup thereof. The effective solution of economic problems and the attainment of worthwhile goals presupposes the correct economic theory, which in turn presupposes the correct axiom set, which becomes the ultimate source of accountable advice. Because of this, this site is strictly about axiomatization. Economic advice of any sort is an entirely separate matter.


Disclaimer (IV): Under no circumstances will AXEC be liable to any person or business entity for any direct, indirect, special, incidental, consequential, or other damages based on any use of this site or any other source to which it refers, including, without limitation, any lost profits, business interruption, or loss of programs or information. 

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Imprint/Impressum: See Identity


ValidityShould parts or individual forms of wording in this text not, no longer, or not fully comply with applicable law, this does not affect the content or validity of the remaining parts of the document.


AXEC in brief: Independent scientific economic research; new Paradigm; rectification of profit theory; refutation of Walrasianism, Keynesianism, Marxianism, Austrianism, MMT, and Pluralism.