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Leon Walras’s Economic Thought: The General Equilibrium Theory in Historical Perspective
Leon Walras’s Economic Thought: The General Equilibrium Theory in Historical Perspective
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Excellent- More about Leon Walras’s Economic Thought: The General Equilibrium Theory in Historical Perspective
This book explores the general equilibrium theory of Léon Walras (1834–1910) from a historical perspective, reconsidering his relationship with predecessors Adam Smith, Jean-Baptiste Say, and Achylle Nicolas Isnard, and exploring his views on the labor market, entrepreneurship, and non-selfish human nature. It provides a new perspective on the problems faced by modern economics and opens possibilities for its development as a social science.
Format: Hardback
Length: 132 pages
Publication date: 05 December 2023
Publisher: Taylor & Francis Ltd
This book provides a fresh perspective on the general equilibrium theory of Léon Walras (1834–1910) from a historical standpoint. Walras' development of general equilibrium theory marked the dawn of modern economics, and the theory was significantly advanced in the 20th century. However, Walras' own intentions and ideas behind the theory remain largely misunderstood.
This book aims to shed light on the intellectual background of Walras economics by delving into his original writings, which have not received much attention until now. Part 1 of the book reconsiders the relationship between Walras and his predecessors, Adam Smith (1723–1790), Jean-Baptiste Say (1767–1832), and Achylle Nicolas Isnard (1749–1803), who are believed to have had a decisive influence on Walras' general equilibrium theory. In Part 2, the book explores Walras' views on the labor market, entrepreneurship, and non-selfish human nature, including concepts like sympathy, which have been overlooked in his general equilibrium theory and subsequently misunderstood to this day.
Walras' economic thought is considered one of the foundational sources of modern economics. A comprehensive and accurate understanding of it will provide a new perspective on the problems faced by modern economics and open up new possibilities for economics as a social science.
This book offers valuable insights not only to researchers and students of the history of economics but also to anyone interested in the origins of modern economics.
Weight: 421g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032434407
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