Capitalism: Competition, Conflict, Crises 95%

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.

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

Real competition creates intense conflict between companies, industries, and nations, as producers fight for a share of the total global profit. The market is not regulated by an "invisible