Capitalism and Anwar Shaikh

Michael Roberts Blog

The most important book on Marxist economics this year will be Anwar Shaikh’s Capitalism – competition, conflict, crises.

As one of the world’s leading Marxist economists, Anwar Shaikh, has taught at The New School for Social Research for more than 30 years, authored three books and six-dozen articles.  This is his most ambitious work.  As Shaikh says, it is an attempt to derive economic theory from the real world and then apply it to real problems.  Shaikh applies Marxist categories and theory to all the major economic issues, including those that are supposed to be the province of mainstream economics, like supply and demand, relative prices in goods and services, interest rates, financial asset prices and technological change.

Shaikh says that his “approach is very different from both orthodox economics and the dominant heterodox tradition.”  He starts from “Perfect firms, perfect individuals, perfect knowledge, perfectly selfish behavior, rational…

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