Overview

This book offers an in-depth exploration of the genesis of Léon Walras's work and its impact on the history of economics. Through a thorough examination of both published and unpublished writings, correspondence, and personal notes, the book reveals new insights into Walras’s intellectual evolution and his overall conception of economics. It traces the formation of his theoretical framework, the elements of his “political and social economy,” and his aspirations for a “liberal and humanitarian scientific socialism.” The book is organized into five parts: Part I investigates the influences shaping Walras’s thought, including his relationship with his father, Auguste Walras, and the intellectual legacy of Jean-Baptiste Say. This section also discusses Walras's views on the stages of historical development, reflecting on the industrial and commercial transformations of his time and his framework for categorizing the social and political sciences. Part II examines the development of Walras’s general equilibrium theory, the role of free competition within a “pure economy,” and the reception of his ideas in Italy and France. It highlights the historical and intellectual context surrounding his theoretical innovations. Part III addresses Walras’s approach to the teaching of economics, with a focus on avoiding intellectual rigidity, particularly in France. It explores his work in social and applied economics at Lausanne and his efforts to shape academic resources, such as library acquisitions, to support this vision. Part IV critiques French liberalism, analyzing Walras’s responses to figures like Louis Blanc and the Saint-Simonians, and discusses his editorial work with Le Travail, which advocated cooperative approaches. Part V highlights Walras’s reformist ideas, including his vision for labor market organization, the state's role in land repurchase to replace taxes, the regulation of public services and natural monopolies, and his ideas on democracy, particularly his campaign for professional representation of interests. This comprehensive analysis appeals to scholars and students of the history of economic thought and anyone interested in understanding the formation and legacy of Walras’s work.

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9783032046697

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Jean-Pierre Potier, Professor Emeritus of Economics at Université Lumière-Lyon 2 and Member of the Triangle research center, is Distinguished Scholar in the history of economic thought, focusing on 19th- and 20th-century France and Italy. He has authored numerous essays on this subject and has played a pivotal role in editing the Collected Works of prominent economists Léon Walras and Jean-Baptiste Say. Recently, he co-published, with Nicolas Chaigneau, the French translation by Léon Walras of W. Stanley Jevons’s Theory of Political Economy (Classiques Garnier, 2023).

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