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
Conflict is seen as a foundational element, not an anomaly, of the capitalist system. The market is not regulated by an "invisible
Prices and profit rates do not stay equalized; rather, they fluctuate continuously around a moving, "gravitating" center. 2. Conflict in Capitalist Dynamics not an anomaly