Overview
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.
- | Author: Anwar Shaikh
- | Publisher: Oxford University Press
- | Publication Date: Dec 07, 2018
- | Number of Pages: 1024 pages
- | Language: English
- | Binding: Paperback
- | ISBN-10: 0190938269
- | ISBN-13: 9780190938260
