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Capitalism – Competition, Conflict, Crises - Oxford Scholarship Online
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Capitalism: Competition, Conflict, Crises

Anwar Shaikh

Abstract

The purpose of this book is to demonstrate that most of the central propositions of economic analysis can be derived without any reference to hyperrationality, optimization, perfect competition, perfect information, representative agents or so-called rational expectations. These include the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, the theory ... More

Keywords: hyperrationality, perfect competition, classical competition, capitalism, economic analysis, general crises

Bibliographic Information

Print publication date: 2016 Print ISBN-13: 9780199390632
Published to Oxford Scholarship Online: March 2016 DOI:10.1093/acprof:oso/9780199390632.001.0001

Authors

Affiliations are at time of print publication.

Anwar Shaikh, author
Professor of Economics, New School for Social Research, New York

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Contents

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Front Matter

Title Pages

List of Figures

List of Tables

Preface and Acknowledgments

Part I Foundations of the Analysis

1 Introduction

2 Turbulent Trends and Hidden Structures

3 Micro Foundations and Macro Patterns

4 Production and Costs

5 Exchange, Money, and Price

6 Capital and Profit

Part II Real Competition

7 The Theory of Real Competition

8 Debates on Perfect and Imperfect Competition

9 Competition and Inter-Industrial Relative Prices

10 Competition, Finance, and Interest Rates

11 International Competition and the Theory of Exchange Rates

Part III Turbulent Macro Dynamics

12 The Rise and Fall of Modern Macroeconomics

13 Classical Macro Dynamics

14 The Theory of Wages and Unemployment

15 Modern Money and Inflation

16 Growth, Profitability, and Recurrent Crises

17 Summary and Conclusions

End Matter

Appendix 2.1 Sources and Methods for Chapter 2

Appendix 4.1 Production Flows and Stocks in National Accounts

Appendix 4.2 Numerical Calculations for Figures 4.1–4.18

Appendix 5.1 Citations of Key Points in Marx’s Theory of Money

Appendix 5.2 Sources and Methods for Chapter 5

Appendix 6.1 Algebra of Profit and Surplus Labor

Appendix 6.2 The Rate of Profit as a Real Rate

Appendix 6.3 Gross and Net Capital Stocks

Appendix 6.4 Marx and Sraffa on Fixed Capital as a Joint Product

Appendix 6.5 Measurement of the Capital Stock

Appendix 6.6 Measurement of Capacity Utilization

Appendix 6.7 Empirical Methods and Sources

Appendix 7.1 Data Sources and Methods for Chapter 7

Appendix 9.1 Matrix Algebra of Classical Price Theory

Appendix 9.2 Sources and Methods for Chapter 9

Appendix 10.1 Sources and Methods for Chapter 10

Appendix 11.1 Data Sources and Methods for Chapter 11

Appendix 12.1 Sources and Methods for Chapter 12

Appendix 13.1 Stability of Multiplier Processes

Appendix 14.1 Dynamics of the Classical and Goodwin Models

Appendix 14.2 Data Sources, Methods, and Regressions

Appendix 15.1 Sources and Methods for Chapter 15

Appendix 16.1 Sources and Methods for Chapter 16

Appendix 17.1 Sources and Methods for Chapter 17

Note on Abbreviations

References

Author Index

Subject Index