What Happens When Economics Doesn’t Reflect the Real World?

Anwar Shaikh critiques neoclassical economics, arguing that perfect competition is a fantasy. He shares his journey in economics, motivated by the inadequacy of existing theories to explain real-world phenomena. Shaikh introduces the concept of 'real competition' and discusses consumer behavior using a stochastic approach. He emphasizes profitability as the core of capitalism and analyzes historical economic policies. Shaikh proposes a unified economic framework to better understand global issues like inequality and globalization.

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