Anwar Shaikh is Professor of Economics at the Graduate Faculty of Political and Social Science of the New School for Social Research. He received his BSc. from Princeton University and his PhD from Columbia University. He is an Associate Editor of the Cambridge Journal of Economics, and was a Senior Scholar and member of the Macro Modeling Team at the Levy Economics Institute of Bard College from 2000-2005. He received a Distinguished University Teaching Award from the New School in 2003, and in 2009 he was awarded an Honorary Doctorate, Honoris Causa, from Universidad Nacional Mayor de San Marcos, in Lima, Peru. He has served on many major committees at the New School, and has served three times as Chair of the Department of Economics of the Graduate Faculty.

Dr. Shaikh is the author of four books, the most recent being Capitalism: Competition, Conflict, Crises (2016, Oxford University Press). His recent articles include “The First Great Depression of the 21st Century”, Socialist Register 2011, Fall 2010; “Reflexivity, Path-Dependence and Disequilibrium Dynamics”, the Journal of Post Keynesian Economics, Fall 2010; “Economic Policy in a Growth Context: A Classical Synthesis of Keynes and Harrod”, 2009, Metroeconomica, 60(3), pp. 455-494; “Competition and Industrial Rates of Return”, 2008 Issues in Economic Development and Globalisation, Philip Arestis, John Eatwell (eds.), Palgrave MacMillan. He has also written on international trade, finance theory, political economy, U.S. macroeconomic policy, the welfare state, growth theory, inflation theory, crisis theory, and inequality on the world scale, and past and current global economic crises.

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General Equilibrium Theory: Sound and Fury, Signifying Nothing?

Article | Aug 16, 2016

Does general equilibrium theory sufficiently enhance our understanding of the economic process to make the entire exercise worthwhile, if we consider that other forms of thinking may have been ‘crowded out’ as a result of its being the ‘dominant discourse’? What, in the end, have we really learned from it?