Capitalism: Competition, Conflict, Crises Instant

The market is not regulated by an "invisible hand" ensuring efficiency, but by the most efficient producers ("regulating capitals") who establish the low-cost price-point, forcing others to adapt or die.

Firms are not price-takers; they are active rivals struggling for market share.

Conflict is seen as a foundational element, not an anomaly, of the capitalist system. Capitalism: Competition, Conflict, Crises

Shaikh argues that the neoclassical model of "perfect competition" is unrealistic and ideologically driven. Instead, he proposes a theory of :

Prices and profit rates do not stay equalized; rather, they fluctuate continuously around a moving, "gravitating" center. 2. Conflict in Capitalist Dynamics The market is not regulated by an "invisible

The drive to maximize profits ("surplus value") inherently leads to a struggle over wage levels and labor effort.

Competition shapes global patterns of trade, finance, and investment, reinforcing imbalances between developed and developing economies. Shaikh argues that the neoclassical model of "perfect

Competition acts as a form of "economic warfare" where producers constantly attempt to lower costs through wage reduction, technological innovation, and increased efficiency.