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179.9K views
50 years ago, I discovered economics textbooks were teaching lies.
71 empirical studies proved the supply curve wrong. Samuelson admitted defeat in 1966 but never updated his textbook.
Between 89-99% of firms report constant or falling marginal costs, not rising ones.
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115.1K views
1/ I've just accomplished something no economist has done in 80 years.
For the first time ever, I've created the complete accounting model of Keynes' revolutionary "Bankor" proposal the international monetary system that could have prevented decades of financial crises.
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🔥 Top post: The Dead Parrot of Mainstream Economics · 242.1K views
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50 years ago, I discovered economics textbooks were teaching lies.
71 empirical studies proved the supply curve wrong. Samuelson admitted defeat in 1966 but never updated his textbook.
Between 89-99% of firms report constant or falling …
The biggest economic myth of our time: "Government prints money, creates inflation, destroys economy."
Here's what 30 years of research actually shows:
Since 2000, private banks created 91% of new money through lending - not government p…
I'm calling out the lie that housing is unaffordable due to "supply issues"
After analyzing data from the top 15 countries over 50+ years, I can prove it's actually banks that did this.
They've been allowed to pour unlimited mortgage mo…
1/ I've just accomplished something no economist has done in 80 years.
For the first time ever, I've created the complete accounting model of Keynes' revolutionary "Bankor" proposal the international monetary system that could have preven…
@WxNB_ Welcome to the new normal, until it’s replaced by something much worse.
I have tears in my eyes because the NHS has discovered a tear in my retina just 2 days after I first saw symptoms and 3 hours after I came to Moorfields Eye Hospital. I’m just about to get laser surgery. Without the NHS I could have gone b…
Mainstream economics is fundamentally flawed.
Ignoring the role of energy in production is like ignoring the engine in a car.
We need models that reflect reality, not fantasies.
Neoclassical economics is a cult, not a science.
It clings to outdated models that ignore reality.
We need an economics grounded in realism, not fantasy.
Neoclassical economists underestimate climate change's impact.
A 1.4% GDP fall prediction is laughable.
Realistically, we face total economic collapse if we don't act now.
It's time to rethink our economic models and policies.
The myth that everyone benefits from rising share prices is just that—a myth.
The working class owns a trivial amount of shares, while the rich hold the majority.
By increasing share prices, we only benefit those who are already weal…
To avoid economic stagnation:
1) Stop equating government budgets with household budgets.
2) Focus on reducing private debt, not public debt.
3) Implement policies that increase the money supply in the economy.
Ignoring these steps leads…
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