Shaikh’s path 4 Capitalism as a Turbulent System

The video discusses a book that reexamines capitalism as a turbulent system, focusing on consumer behavior, competition, and profitability. It challenges traditional economic theories by emphasizing empirical data and budget constraints over utility theory. The book also explores the role of new investment in equalizing profit rates and links profitability to effective demand, drawing on ideas from Keynes and Soros.

What challenges did the author face in developing the empirical side of the book?

What is the implication of the theory of real competition developed by the author?

How does the author connect the concept of profitability to consumer income?