Professor Anwar Shaikh presents - Real Economic Analysis: A Theoretical and Empirical Alternative For Micro and Macro Economics
About this event Professor Anwar Shaikh, renown classical political economist and critic of both neoclassical and post-Keynesian approaches, discusses two themes of his magnum opus Capitalism: Competition, Conflict, Crises. First, Professor Shaikh examines the sociopathy of neoclassical consumer choice theory, which denies that the individual must be "socially situated, structured and shaped by nationality, gender, ethnicity, and class. " Next, Professor Shaikh will trace the history of post-WWII macroeconomics, tying the failures of the Social Democratic and Neoliberal policy regimes to unsound theoretical foundations. Shaikh suggests that a new profit-driven approach must be excavated from the combined insights of Smith, Ricardo, Marx, and Keynes, in which the macroeconomy is viewed as an inherently turbulent system, regulated by real competition and profit equalisation.