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Studies in Applied Economics by Léon Walras

Studies in Applied Economics

by Léon Walras
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Book cover type: Paperback
  • ISBN13: 9781041275411
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Routledge
  • Publisher Imprint: Routledge
  • Publication Date:
  • Pages: 264
  • Original Price: USD 25.99
  • Language: English
  • Edition: 1
  • Item Weight: 372 grams
  • BISAC Subject(s): Economics / General

First Published in 2004. Studies in Applied Economics is an English translation of �tudes d'�conomie politique appliqu�e (1898) by L�on Walras (1834-1910). Until now, �l�ments d'�conomie politique pure (1874) was the only book by Walras available in English (Elements of Pure Economics, 1954). It contains the theory of general economic equilibrium under free competition, with the concept of utility maximization as its core. Walras's conclusion was that where free competition is possible, it should be the rule. So, in the present book, he advocates protective regulation, within which economic agents may compete freely. For water, gas or railway transport, for instance, where free competition is impossible, rules are formulated to maintain its advantages. Issues such as money, capital, credit, banking and the stock markets are also dealt with. The book's final chapter recapitulates the themes of Walras's three main works: �l�ments, �tudes d'�conomie sociale and this volume, �tudes d'�conomie politique appliqu�e. Walras's aim was to provide an economic blueprint for a social ideal where poverty and similar evils could be banished.

Léon Walras. Translated by Jan van Daal who is an expert on the life and works of Léon Walras. A former member of the Econometric Institute of the Erasmus University Rotterdam, he is now at the Centre Walras.

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