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Equilibrium Economics of Leon Walras
Equilibrium Economics of Leon Walras

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Does Walras's theory go beyond perfect competition? Most of the literature on Walras focuses on the Elements of Pure Economics. While this abundance of attention is partly due to the value the economist himself attached to this study, it has created an unbalanced view of his work.In The Equilibrium Economics of Leon Walras, Jan van Daal and Albert Jolink trace the development of Walras's consecutive models of general equilibrium through the five editions of his Elements. The authors also remedy the narrow interpretations of Walras's work by placing his equilibrium theories in a much broader context and argue that these models should be considered as an instrument in Walras's design for optimal economic order.The book falls into three distinct sections. Part I deals with some aspects of Walras's theory - the use of mathematics in economics, the notion of free competition, the notion of utility, and price formation in competitive markets. In Part II these aspects are synthesized in the equilibrium models. Part III outlines Walras's views on what he called the 'social question' and how it led him to formulate regulations with respect to monopoly and the production of public goods, and his ideas on state ownership of the land. The authors argue that all these elements can be brought together in a 'general general equilibrium model' that displays all the features of the models of Part II. Additional material on the life of Leon Walras, technical aspects of his theories and solutions to his equilibrium models and tatonnement can be found in the five appendices. The Equilibrium Economics of Leon Walras thus provides an invaluable introduction to the work of the great French economist.
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  • Autor/a Jan Van Daal
  • ISBN13 9780415001571
  • ISBN10 0415001579
  • Pàgines 193
  • Any Edició 1993
  • Fecha de publicación 03/05/1993
  • Idioma Alemany, Francès
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Equilibrium Economics of Leon Walras

Equilibrium Economics of Leon Walras (Alemany, Francès)

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