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

Anwar Shaikh


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


Affiliations are at time of print publication.

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

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Part I Foundations of the Analysis

Part II Real Competition

Part III Turbulent Macro Dynamics