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In his fourth edition of Éléménts d'économie politique pure (1900), León Walras introduced the device of written pledges to eliminate path dependency: sellers of products and services write out commitments to supply certain quantities at suggested prices with no commodities actually produced and supplied until a set of prices is found at which supply and demand are equal simultaneously in every market. This brought about very serious alterations to the character of the book. Unfortunately, these changes resulted in an incomplete, internally contradictory, and occasionally incoherent text. This translation, therefore, by two leading scholars of León Walras' work, Donald A. Walker and Jan van Daal, revisits the third edition of this seminal work, including Walras' brilliant explanation of his comprehensive model, with all its richness derived from reality. Growing research into Walras' work indicates that it was this third edition that contained his best theoretical research and a translation of this edition of the book is now a necessity.
The existing literature on Walras has focused on his Elements of Pure Economics to an extent which has unbalanced our view of his work. Jan van Daal and Albert Jolink pay very careful attention to Walras' general equilibrium models, tracing their development through the five editions of his Elements. But they also place his equilibrium exercises in
Bienvenue dans la collection Les Fiches de lecture d’Universalis Ouvrage fondateur avec ceux de Stanley Jevons (1871) et de Carl Menger (1871) de la révolution marginaliste en économie, les Éléments d’économie politique pure se distinguent par l’ambition de représenter les faits économiques comme un ensemble de relations interdépendantes. Une fiche de lecture spécialement conçue pour le numérique, pour tout savoir sur Éléments d'économie politique pure ou théorie de la richesse sociale de Léon Walras Chaque fiche de lecture présente une œuvre clé de la littérature ou de la pensée. Cette présentation est couplée avec un article de synthèse sur l’auteur de l’œuvre. A propos de l’Encyclopaedia Universalis : Reconnue mondialement pour la qualité et la fiabilité incomparable de ses publications, Encyclopaedia Universalis met la connaissance à la portée de tous. Écrite par plus de 7 400 auteurs spécialistes et riche de près de 30 000 médias (vidéos, photos, cartes, dessins...), l’Encyclopaedia Universalis est la plus fiable collection de référence disponible en français. Elle aborde tous les domaines du savoir.
This study offers a new perspective of Walras' pure, applied and social economics. Through archival research at the University of Lausanne, Jolink considers Walras' ideas on philosophy and philosophy of science based on a newly constructed taxonomy. Walras' work is placed in a broader context by stressing the nineteenth century cultural and historical background in which he lived. This further gives an insight into the relationship between the romanticism of the early nineteenth century and logical positivism of the twentieth century.
This book sheds new light on the general equilibrium theory of Léon Walras (1834–1910) from a historical perspective. Walras's construction of general equilibrium theory marked the dawn of modern economics, and the theory was greatly developed in the 20th century. However, Walras's own intentions and ideas behind the theory are still not fully understood. This book aims to clarify the intellectual background of Walras’s 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's general equilibrium theory. In Part 2, the book explores Walras's 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’s economic thought is one of the foundational sources of modern economics. An accurate and in-depth understanding of it will provide a new perspective on the problems faced by modern economics and open future possibilities for economics as a social science. This book offers new insights not only to researchers and students of the history of economics but also to all those interested in the origins of modern economics.
First Published in 2004. Routledge is an imprint of Taylor & Francis, an informa company.