The Vision of Léon Walras

The Vision of Léon Walras

Léon Walras (1834–1910) transformed economics from a literary discipline into a mathematical, deterministic science. For the first time, Walras expressed the view that all markets are related and that their relationships can be described and analyzed mathematically. These interrelated markets undergo a constant interactive adjustment process tending toward benign balance or “general equilibrium.” Walras compared this system to the stars, where changes in one… (more)

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Book Details  


Publisher: Knowledge Products (April 03, 2006)

Duration: 85:20 hours

File size: 245 MB

Language: English


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