Capitalism: Competition, Conflict, Crises

4.42 avg rating
( 24 ratings by Goodreads )
 
9780199390632: Capitalism: Competition, Conflict, Crises

Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection.

In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: 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, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.

"synopsis" may belong to another edition of this title.

About the Author:


Anwar Shaikh is Professor of Economics at the Graduate Faculty of Political and Social Science of the New School University and Associate Editor of the Cambridge Journal of Economics. From 2000-2005, he was Senior Scholar and member of the Macro Modeling Team at the Levy Economics Institute of Bard College.

Review:


"Anwar Shaikh's Capitalism offers the prospect of an intellectual renewal more comprehensive than any so far attempted. Both the range and the depth of his book, covering in detail mainstream and heterodox, micro- and macroeconomics, are without parallel in contemporary literature."

-- New Left Review


"Capitalism is a book for economists and brave activists who want to get a bigger grip on the underlying processes of capitalism...those readers who stick to the task will be rewarded with new insights into the capitalist process and insightful critiques of mainstream and heterodox arguments."

--"International Socialism


"An excellent lexicon of the long-term genesis, content, and journey of capitalism... provides readers with one-stop shopping -- an excellent repository of everything anyone would desire to know to be more informed about this formidable social institution."

-- Choice


"[Capitalism] is different, it's not political, it's written for economics scholars and explores the fundamental categories on which neoclassical economics is built, that is; 'rational' consumers, U-shaped supply curves, flat demand functions and the fiction of an equilibrium at which marginal-utility equals marginal-cost. The author's scalpel eviscerates every one of these categories from the inside that is from within economic discourse and using empirical economic data. This book will resonate for a long time."

-- Kumar David, Colombo Telegraph


"Anwar Shaikh has always been an independent, free spirit. He has great economic intuition and technical skills. He has absorbed the literature of classical political economy, Marx's writings, modern economic theory, and applied work. He also is well versed in philosophy and in historical writings. His mentors include Smith, Ricardo, Marx, Keynes, Sraffa, Joan Robinson, Kalecki, Goodwin, Godley, Pasinetti and Taylor. All these influences and more come together in Capitalism: Competition, Conflict, Crises, his magnum opus.


In an extraordinary blend of original theory and careful empirical work, we have possibly the most comprehensive structure since Marx's Capital, within which to understand and analyse the many inter-related processes that constitute modern advanced capitalism. His book provides both deep understanding, and a platform on which to erect appropriate policies, with which to tackle the revealed malfunctionings and undesirable social outcomes. It would not be Shaikh's fault if others do not take up the challenge."

-- G. C. Harcourt, Reader in the History of Economic Theory, Emeritus, University of Cambridge and Visiting Professorial Fellow, School of Economics, UNSW Australia


"Anwar Shaikh's magnum opus is one of the most important works of political economy to have come out in a generation. In a time when economics is becoming ever more recondite and otherworldly, Shaikh shows that an economic theory based on real abstractions is not only necessary, but also possible. This is a work of lasting importance, not just for economists, but for anyone interested in how capitalism works."

-- Vivek Chibber, Professor of Sociology, New York University


"An amazing feat. Anwar Shaikh's Capitalism covers exchange, production, costs, competition, money, macro-dynamics, profit, wages and trade, with theory, history and evidence complete. Deeply erudite and beautifully written, it is at once a stunning renovation of classical and Keynesian economics and a relentless demolition of sophistries. A book to savor and to teach; there hasn't one like it for 150 years."

-- James K. Galbraith, author of The End of Normal and of Inequality: What Everyone Needs to Know


"This new book by Anwar Shaikh is a veritable tour de force from a unique economist who skillfully links deep insights from classical economic theory with cutting edge ideas in econophysics and economic complexity to penetratingly deal with issues from microeconomic competition through macroeconomic dynamics and turbulence."

-- J. Barkley Rosser, Jr., Professor of Economics and Kirby L. Cramer, Jr. Professor of Business Administration, James Madison University


"About this title" may belong to another edition of this title.

Top Search Results from the AbeBooks Marketplace

1.

Anwar Shaikh
ISBN 10: 0199390630 ISBN 13: 9780199390632
New Quantity Available: 1
Seller:
book-net
(Sugarland, TX, U.S.A.)
Rating
[?]

Book Description Book Condition: New. New Book. Bookseller Inventory # 0199390630SBK

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 42.83
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

2.

Anwar Shaikh
Published by Oxford University Press
ISBN 10: 0199390630 ISBN 13: 9780199390632
New Quantity Available: > 20
Seller:
INDOO
(Avenel, NJ, U.S.A.)
Rating
[?]

Book Description Oxford University Press. Book Condition: New. Brand New. Bookseller Inventory # 0199390630

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 39.34
Convert Currency

Add to Basket

Shipping: US$ 3.50
Within U.S.A.
Destination, Rates & Speeds

3.

Shaikh, Anwar
Published by Oxford University Press (2016)
ISBN 10: 0199390630 ISBN 13: 9780199390632
New Hardcover Quantity Available: 1
Seller:
The Vintage Vagabonds
(Oak Ridge, NC, U.S.A.)
Rating
[?]

Book Description Oxford University Press, 2016. Hardcover. Book Condition: New. Dust jacket has light shelf/shipping wear. Corners and edges lightly rubbed. Clean text. Bookseller Inventory # WF-161003027

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 42.08
Convert Currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, Rates & Speeds

4.

Shaikh, Anwar
ISBN 10: 0199390630 ISBN 13: 9780199390632
New Quantity Available: > 20
Seller:
Paperbackshop-US
(Wood Dale, IL, U.S.A.)
Rating
[?]

Book Description 2016. HRD. Book Condition: New. New Book. Shipped from US within 10 to 14 business days. Established seller since 2000. Bookseller Inventory # VU-9780199390632

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 51.37
Convert Currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, Rates & Speeds

5.

Shaikh, Anwar
Published by Oxford University Press Inc (2016)
ISBN 10: 0199390630 ISBN 13: 9780199390632
New Quantity Available: 4
Seller:
Books2Anywhere
(Fairford, GLOS, United Kingdom)
Rating
[?]

Book Description Oxford University Press Inc, 2016. HRD. Book Condition: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Bookseller Inventory # FU-9780199390632

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 45.70
Convert Currency

Add to Basket

Shipping: US$ 12.07
From United Kingdom to U.S.A.
Destination, Rates & Speeds

6.

Anwar Shaikh
Published by Oxford University Press Inc, United States (2016)
ISBN 10: 0199390630 ISBN 13: 9780199390632
New Hardcover Quantity Available: 1
Seller:
The Book Depository US
(London, United Kingdom)
Rating
[?]

Book Description Oxford University Press Inc, United States, 2016. Hardback. Book Condition: New. Language: English . Brand New Book. Neoclassical economical theory uses aspects of perfect functioning of markets as part of its basic assumptions and introduces imperfections as analysis proceeds forward. Many types of heterodox economics insist on dealing with imperfect competition but project backwards to a previous perfect state. In Capitalism, Anwar Shaikh demonstrates 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, Shaikh s theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post Keynesian approaches to the same issues. The object of analysis is the economics of capitalism, and economic thought on the subject is addressed in that light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text. Bookseller Inventory # AOP9780199390632

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 58.27
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

7.

Anwar Shaikh
Published by OUP USA 2016-02-12, Oxford |New York, NY (2016)
ISBN 10: 0199390630 ISBN 13: 9780199390632
New Hardcover Quantity Available: 5
Seller:
Blackwell's
(Oxford, OX, United Kingdom)
Rating
[?]

Book Description OUP USA 2016-02-12, Oxford |New York, NY, 2016. hardback. Book Condition: New. Bookseller Inventory # 9780199390632

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 51.09
Convert Currency

Add to Basket

Shipping: US$ 8.05
From United Kingdom to U.S.A.
Destination, Rates & Speeds

8.

Shaikh, Anwar
ISBN 10: 0199390630 ISBN 13: 9780199390632
New Quantity Available: 2
Seller:
Pbshop
(Wood Dale, IL, U.S.A.)
Rating
[?]

Book Description 2016. HRD. Book Condition: New. New Book.Shipped from US within 10 to 14 business days. Established seller since 2000. Bookseller Inventory # IB-9780199390632

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 55.57
Convert Currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, Rates & Speeds

9.

Anwar Shaikh
Published by Oxford University Press Inc, United States (2016)
ISBN 10: 0199390630 ISBN 13: 9780199390632
New Hardcover Quantity Available: 1
Seller:
The Book Depository
(London, United Kingdom)
Rating
[?]

Book Description Oxford University Press Inc, United States, 2016. Hardback. Book Condition: New. Language: English . Brand New Book. Neoclassical economical theory uses aspects of perfect functioning of markets as part of its basic assumptions and introduces imperfections as analysis proceeds forward. Many types of heterodox economics insist on dealing with imperfect competition but project backwards to a previous perfect state. In Capitalism, Anwar Shaikh demonstrates 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, Shaikh s theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post Keynesian approaches to the same issues. The object of analysis is the economics of capitalism, and economic thought on the subject is addressed in that light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text. Bookseller Inventory # AOP9780199390632

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 59.98
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

10.

Anwar Shaikh
Published by Oxford University Press (2016)
ISBN 10: 0199390630 ISBN 13: 9780199390632
New Hardcover First Edition Quantity Available: 1
Seller:
Irish Booksellers
(Rumford, ME, U.S.A.)
Rating
[?]

Book Description Oxford University Press, 2016. Hardcover. Book Condition: New. book. Bookseller Inventory # M0199390630

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 62.97
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

There are more copies of this book

View all search results for this book