Greenwich conference 10/10-2016: Capitalism: Competition, Conflict, Crises. Anwar Shaikh

Tid: 10. oktober 2016 kl 17:00
Sted: Queen Anne Court QA180, University of Greenwich, London
Arrangør:  GPERC/Greenwich Political Economy Research Centre


This is an advance notice for you to hold the date of 10 October.
GPERC is delighted to be hosting Professor Anwar Shaikh.  Professor of Economics at The New School in New York City, Anwar Shaikh is one of the world’s leading heterodox economists.
He arrives at Greenwich having recently published what many consider to be his magnum opus, Capitalism: Competition, Conflict and Crises.  More details about the talk will be circulated shortly.
Dr. Jeff Powell, GPERC

Anwar Shaikh

  • Takes a unique approach in developing an economic model of modern capitalism without any reliance on conventional assumptions of either perfect or imperfect competition
  • Reconciles macro and micro aspects of growth, making this work extremely relevant to current growth theory
  • Critiques mainstream neoclassical economics and offers an alternative framework for understanding modern economies

Description of 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.

Annonceret af: Jørgen Lindgaard Pedersen


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