The Legacy of Leon Walras

This important two-volume collection of over sixty published articles presents a major study of Leon Walras's intellectual legacy and reveals how Walras's ideas contributed significantly to the formation of the mainstream of modern microeconomic theory. The collection comprises two groups of writings. The first, consisting of interpretations of his ideas, discuss his contributions to the theory of general equilibrium, including his special models of capital and of money, his applications of theory to the formation of economic policies, and his use of it in connection with his concepts of economic justice and an ideal economy. The second group shows current uses of Walras's ideas, including models dealing with Walrasian equilibrium, Walras's law, Cournot-Walras models, Walrasian ideas in the context of game-theoretic analysis, the Walras correspondence, and WALRAS, an econometric model of the general equilibrium effects of agricultural policies. The Legacy of Leon Walras will be an invaluable source to all those interested in the development of modern microeconomic theory, including teachers of economics, researchers, historians of economic thought and students.