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Walras Economics
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Book Synopsis Léon Walras: Elements of Theoretical Economics by : Léon Walras
Download or read book Léon Walras: Elements of Theoretical Economics written by Léon Walras and published by Cambridge University Press. This book was released on 2014-10-23 with total page 591 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Equilibrium Economics of Leon Walras by : Albert Jolink
Download or read book The Equilibrium Economics of Leon Walras written by Albert Jolink and published by Routledge. This book was released on 1993-09-02 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors examine Walras' general equilibrium models, tracing their development through his major work Elements of Pure Economics, and also placing them in the broader context of his design for optimal economic order.
Book Synopsis General Equilibrium Analysis by : Pascal Bridel
Download or read book General Equilibrium Analysis written by Pascal Bridel and published by Routledge. This book was released on 2013-03-01 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2010 marks the hundredth anniversary of the death of Léon Walras, the brilliant originator and first formaliser of general equilibrium theory – one of the pillars of modern economic theory. In advancing much derided practical solutions Walras also displayed more concern for the problems of living in a second best world than is common in modern pure theories of the invisible hand, efficient market hypothesis, DSGE macroeconomics or the thinking of some contemporary free market admirers all based on general equilibrium theory. This book brings contributions from the likes of Kenneth Arrow, Alan Kirman, Richard Posner, Amartya Sen and Robert Solow to share their thoughts and reflections on the theoretical heritage of Léon Walras. Some authors reminisce on the part they played in the development of modern general economics theory; others reflect on the crucial part played by general equilibrium in the development of macroeconomics, microeconomics, growth theory, welfare economics and the theory of justice; others still complain about the wrong path economic theory took under the influence of post 1945 developments in general equilibrium theory.
Book Synopsis Elements of Pure Economics by : Léon Walras
Download or read book Elements of Pure Economics written by Léon Walras and published by Routledge. This book was released on 2013-10-16 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: Elements of Pure Economics was one of the most influential works in the history of economics, and the single most important contribution to the marginal revolution. Walras' theory of general equilibrium remains one of the cornerstones of economic theory more than 100 years after it was first published.
Book Synopsis Walrasian Economics by : Donald A. Walker
Download or read book Walrasian Economics written by Donald A. Walker and published by Cambridge University Press. This book was released on 2006-01-16 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: In order to understand the various strands of general equilibrium theory, why it has taken the forms that it has since the time of Léon Walras, and to appreciate fully a view of the state of general equilibrium theorising, it is essential to understand Walras's work and examine its influence. The first section of this book accordingly examines the foundations of Walras's work. These include his philosophical and methodological approach to economic modelling, his views on human nature, and the basic components of his general equilibrium models. The second section examines how the influence of his ideas has been manifested in the theorising of his successors, surveying the models of theorists such as H. L. Moore, Vilfredo Pareto, Knut Wicksell, Gustav Cassel, Abraham Wald, John von Neumann, J. R. Hicks, Kenneth Arrow, and Gerard Debreu. The treatment also examines models of many types in which Walras's influence is explicitly acknowledged.
Book Synopsis Barriers to Riches by : Stephen L. Parente
Download or read book Barriers to Riches written by Stephen L. Parente and published by MIT Press. This book was released on 2002-01-25 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why isn't the whole world as rich as the United States? Conventional views holds that differences in the share of output invested by countries account for this disparity. Not so, say Stephen Parente and Edward Prescott. In Barriers to Riches, Parente and Prescott argue that differences in Total Factor Productivity (TFP) explain this phenomenon. These differences exist because some countries erect barriers to the efficient use of readily available technology. The purpose of these barriers is to protect industry insiders with vested interests in current production processes from outside competition. Were this protection stopped, rapid TFP growth would follow in the poor countries, and the whole world would soon be rich. Barriers to Riches reflects a decade of research by the authors on this question. Like other books on the subject, it makes use of historical examples and industry studies to illuminate potential explanations for income differences. Unlike these other books, however, it uses aggregate data and general equilibrium models to evaluate the plausibility of alternative explanations. The result of this approach is the most complete and coherent treatment of the subject to date.
Book Synopsis Topological Methods in Walrasian Economics by : E. Dierker
Download or read book Topological Methods in Walrasian Economics written by E. Dierker and published by Springer. This book was released on 1974-02-15 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic framework; Introduction to the mathematics; Differentiable manifolds and mapping, tangents, vectorfields; Regular equilibria. A first approach; Scarf's example; Excess demand functions; Debreu's theorem on the finiteness of the number of equilibria of an economy; Continuity of the Walras correspondence for demand functions; Density of transversal intersection; Regular economies; Stability questions and the number of equilibria; Large economies; Some standard notation.
Book Synopsis Studies in Social Economics by : Léon Walras
Download or read book Studies in Social Economics written by Léon Walras and published by Routledge. This book was released on 2010-04-25 with total page 623 pages. Available in PDF, EPUB and Kindle. Book excerpt: Léon Walras (1834–1910) is one of the four or five most important economic theorists in the history of the science. The present book is a complete English translation of the second edition (1936) of his Études d’économie sociale (1896), in which he applies economic theory to real problems, presents the essence of his normative economic ideas, and reveals himself to have also been a great thinker on human nature, justice, mores, and the structure of scientific inquiry and knowledge. The book will be of interest to researchers and postgraduate students in the area of the history of economics as well as those interested in Walrasian topics, such as social justice, taxation, intellectual property, and land ownership.
Book Synopsis Walras' Economics by : Michio Morishima
Download or read book Walras' Economics written by Michio Morishima and published by Cambridge University Press. This book was released on 1981-09-03 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1977, this book is a companion to Professor Morishima's book Marx's Economics which was published in 1973. As he did so successfully with Marx, Morishima intended with this book to change the standard assessment of his subject's contribution to the development of economic thought. The standard view was that Walras provided, in the second half of the nineteenth century, the basis for general equilibrium theory. He was thus regarded as a microeconomist, a founder of marginalism; but Morishima argues that, while Walras certainly made important contributions in that area, it is his attempt to build a macroeconomics on that foundation that should be regarded as his main achievement. This book will provoke great interest amongst all economists and advanced students of economic theory and its history.
Book Synopsis Ricardo's Economics by : Michio Morishima
Download or read book Ricardo's Economics written by Michio Morishima and published by Cambridge University Press. This book was released on 1990-10-25 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, together with Marx's Economic and Walras' Economics, completes a sequence of titles by Professor Morishima on the first generation of scientific economists. The author's assessment of Ricardo differs substantially from the established views adopted by economists and historians of economic thought. While economists such as Pasinetti, Caravale and Samuelson have concentrated on macroeconomic interpretations of Ricardo, and historians of economic thought have emphasised his labour theory of value, Morishima takes a different course. In this book the author concentrates on Ricardo's main work, The Principles, and shows that his economics is the prototype of mathematical economies without the symbols and formulae. Morishima then translates Ricardo's economics into mathematical language to find a general equilibrium system (very similar to Walras') concealed within. The analysis also contradicts the conventional view that marginalism emerged in opposition to classical economics, showing instead that Ricardian analysis is firmly based on marginalist principles, using prices, wages and profits rather than labour values. The book ends with a discussion of the historical character of economic theory and an attempt to specify the epoch of Ricardian economics.
Book Synopsis Equilibrium Analysis by : Werner Hildenbrand
Download or read book Equilibrium Analysis written by Werner Hildenbrand and published by North Holland. This book was released on 1988 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hardbound. This book has its origins in a previous volume by the same authors, Introduction to Equilibrium Analysis''. Within the context of the exchange economy two solutions or themes proposed by Walras and Edgeworth are developed. The first consists of finding those allocations obtained through the decentralization of the choices of individuals by prices. The second, of allocations which are not objected to coalitions by individuals. This volume should be suitable for final year undergraduate courses or for graduate students. A thorough understanding of the material treated here will be invaluable to the reader in appreciating the economic literature. In particular, he will learn to treat with caution many of the assertions found in that literature.
Book Synopsis Studies in the History of French Political Economy by : Gilbert Faccarello
Download or read book Studies in the History of French Political Economy written by Gilbert Faccarello and published by Psychology Press. This book was released on 1998 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the evolution of economic thought in France from the sixteenth to twentieth century and explores the key economists, themes and controversies which are important in the context of recent research.
Book Synopsis The Evolutionist Economics of Leon Walras by : Albert Jolink
Download or read book The Evolutionist Economics of Leon Walras written by Albert Jolink and published by Routledge. This book was released on 2005-08-18 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Léon Walras’s Economic Thought by : Kayoko Misaki
Download or read book Léon Walras’s Economic Thought written by Kayoko Misaki and published by Taylor & Francis. This book was released on 2023-12-05 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Introduction to Equilibrium Analysis by : W. Hildenbrand
Download or read book Introduction to Equilibrium Analysis written by W. Hildenbrand and published by Elsevier. This book was released on 2014-07-22 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advanced Textbooks in Economics, Volume 6: Introduction to Equilibrium Analysis: Variations on Themes by Edgeworth and Walras focuses on the approaches developed and instituted by Edgeworth and Walras in the study of equilibrium analysis. The book first underscores exchange economies, core of a game, and large economies. Discussions focus on economies with a continuum of agents, Walras equilibrium, prices and demand, balancedness, and commodity space. The manuscript then ponders on limit theorems for the core and existence of competitive equilibria. Topics include equilibria without convexity of preferences, existence of equilibria for economies with convex preferences, individual demand, emergence of prices, asymptotic equal treatment for most, uniform boundedness of core allocations, and limit theorems for type and replica economies. The publication examines continuous, upper, and lower hemi-continuous correspondences, fixed point theorems, and separation of convex sets. The book is a vital source of data for economists and researchers interested in equilibrium analysis.
Book Synopsis Studies in Applied Economics, Volume II by : Léon Walras
Download or read book Studies in Applied Economics, Volume II written by Léon Walras and published by Routledge. This book was released on 2007-11-21 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is Volume II in a series on Studies in Applied Economics and looks at the theory of the production of social wealth in the areas of agriculture, industry, commerce banking and stock markets. The two volumes form a translation from French of Walras’s two main books, Études d’économie politique appliquée (Théorie de la production de la richesse sociale) (1898) and Études d’économie sociale (Théorie de la répar[1]tition de la richesse sociale) (1896).
Book Synopsis Philosophy of Mathematics and Economics by : Thomas A. Boylan
Download or read book Philosophy of Mathematics and Economics written by Thomas A. Boylan and published by Routledge. This book was released on 2018-04-09 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the failure of economics to predict the recent economic crisis, the image of economics as a rigorous mathematical science has been subjected to increasing interrogation. One explanation for this failure is that the subject took a wrong turn in its historical trajectory, becoming too mathematical. Using the philosophy of mathematics, this unique book re-examines this trajectory. Philosophy of Mathematics and Economics re-analyses the divergent rationales for mathematical economics by some of its principal architects. Yet, it is not limited to simply enhancing our understanding of how economics became an applied mathematical science. The authors also critically evaluate developments in the philosophy of mathematics to expose the inadequacy of aspects of mainstream mathematical economics, as well as exploiting the same philosophy to suggest alternative ways of rigorously formulating economic theory for our digital age. This book represents an innovative attempt to more fully understand the complexity of the interaction between developments in the philosophy of mathematics and the process of formalisation in economics. Assuming no expert knowledge in the philosophy of mathematics, this work is relevant to historians of economic thought and professional philosophers of economics. In addition, it will be of great interest to those who wish to deepen their appreciation of the economic contours of contemporary society. It is also hoped that mathematical economists will find this work informative and engaging.
