Léon Walras

Thinkers1834 to 1910Economist

Works

  • Éléments d'économie politique pure, two parts, 1874 and 1877, 1874

In Thinking Tools

Known for

A French economist at Lausanne who reached the marginal theory of value independently of Jevons and Menger and founded general equilibrium theory, which treats all markets as a system of simultaneous equations whose prices clear together through a process of trial and error he called tâtonnement.

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