The equilibrium economics of Léon Walras:
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
London u.a.
Routledge
1993
|
| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XIII, 193 S. graph. Darst. |
| ISBN: | 0415001579 |
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MARC
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| 245 | 1 | 0 | |a The equilibrium economics of Léon Walras |c Jan van Daal and Albert Jolink |
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| 264 | 1 | |a London u.a. |b Routledge |c 1993 | |
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Record in the Search Index
| _version_ | 1804122795386339328 |
|---|---|
| adam_text | CONTENTS
Preface ix
Acknowledgements xii
Conventions xiii
Part I Prologue
1 ON THE USE OF MATHEMATICS IN
ECONOMIC ANALYSIS 3
Mathematics and economic theory 3
Mathematics and economic practice 5
Walras and the objections against the use of mathematics 6
Walras and the mechanical analogies 6
2 FREE COMPETITION AND GENERAL
EQUILIBRIUM 8
Free competition 8
General equilibrium 10
3 ON THE NOTION OF UTILITY AS
DEVELOPED BY WALRAS 13
Social wealth 13
Valories and value in exchange 14
Utility and demand 17
4 WALRAS S GRAPHIC ANALYSIS OF THE
EXCHANGE OF TWO GOODS 20
Demand as an aggregate 20
Market equilibrium 22
Some special cases 24
Part II Walras s equilibrium models
5 WALRAS S EXCHANGE MODEL 29
v
CONTENTS
The theorem of maximum utility of commodities 29
The individual demand functions 32
Exchanging two goods 33
Bartering an arbitrary number of goods 34
Exchanging an arbitrary number of goods 36
Discussion 39
L 6 THE NOTION OF CAPITAL 41
The three categories of capital 41
Capital in the production process 43
7 THE ENTREPRENEUR 44
The entrepreneur 44
Profits and losses 46
8 PRODUCTION 49
Fixed coefficients of production 49
Flexible coefficients of production 51
Marginal productivity 52
9 WALRAS S PRODUCTION MODEL 55
Individual demand and supply 56
The model 57
Discussion 59
10 THE RATE OF NET INCOME AND THE
FUTURE 61
Prices, depreciation and returns to capital 61
Savings 63
11 WALRAS S MODEL OF CAPITAL FORMATION 67
The individual demand and supply equations 67
The twentieth century model of capital formation 69
Optimal allocation of capital 72
Dynamics and uncertainty 73
The role of the entrepreneur in capital formation 74
12 ON THE FUTILITY OF LESSONS 26 AND 27
OF THE ELEMENTS 77
The nineteenth century model of capital formation 77
The theorem on the optimality of capital formation 78
Discussion 81
13 CIRCULATING CAPITAL 83
The notion of circulating capital 83
The model of capital formation with circulating capital 85
vi
CONTENTS
14 A PRELUDE TO THE MONEY MODELS 89
Developments in monetary thought 89
The nineteenth century cash balances approach 90
Walras s macro money model 91
15 WALRAS S EQUILIBRIUM MODEL WITH
FIAT MONEY 94
The individuals cash balances 94
The supply of money 95
The demand for money 97
Equilibrium in the market for money services 98
The price equations 99
Walras s quantity theory of money 99
Payments in the fiat money model 100
16 WALRAS S EQUILIBRIUM MODEL WITH
COMMODITY MONEY 102
The model 102
Discussion 105
On the nature of money in Walras s models 105
Part III Extension
17 REALITY AND REALISTIC UTOPIAS 109
Simplification or generalization? 109
A Utopian reality 111
18 FREE COMPETITION REVISITED 113
Laissez faire and free competition 114
The organization of production 115
The distribution of income 118
19 WALRAS S GENERAL GENERAL
EQUILIBRIUM MODEL 120
Synthesis: Wair as s Utopian reality 120
Discussion 126
Appendices
I A LIFE SKETCH OF LEON WALRAS 129
The antecedents 129
Like father, like son 130
The beginning of a career 131
Professor at Lausanne 132
The years of rest 134
vii
CONTENTS
II ON WALRAS S WORKS 135
Publishing the complete economic works 135
Leon Walras s economicautobibliography 137
III LETTER FROM LEON WALRAS TO
HERBERT SOMERTON FOXWELL 148
IV THE EQUATIONS OF WALRAS S COMPLETE
MODELS 151
The model with fiat money 151
The model with commodity based money 155
V ON THE EXISTENCE OF EQUILIBRIUM AND
ON TATONNEMENT 159
Counting variables and equations 159
Modern proofs 160
Tatonnement 163
Notes 167
References 183
Index of names 188
Subject index 190
viii
|
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| discipline | Wirtschaftswissenschaften |
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| illustrated | Illustrated |
| indexdate | 2024-07-09T17:19:33Z |
| institution | BVB |
| isbn | 0415001579 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-005551846 |
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| physical | XIII, 193 S. graph. Darst. |
| publishDate | 1993 |
| publishDateSearch | 1993 |
| publishDateSort | 1993 |
| publisher | Routledge |
| record_format | marc |
| spelling | Daal, Jan van Verfasser aut The equilibrium economics of Léon Walras Jan van Daal and Albert Jolink 1. publ. London u.a. Routledge 1993 XIII, 193 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Walras, Leon Walras, Léon <1834-1910> Walras, Léon 1834-1910 (DE-588)118806068 gnd rswk-swf Evenwichtsmodellen (Economie) gtt Mathematisches Modell Equilibrium (Economics) Mathematical models Gleichgewichtstheorie (DE-588)4071876-1 gnd rswk-swf Walrasianisches Gleichgewicht (DE-588)4121896-6 gnd rswk-swf Walras, Léon 1834-1910 (DE-588)118806068 p Gleichgewichtstheorie (DE-588)4071876-1 s DE-604 Walrasianisches Gleichgewicht (DE-588)4121896-6 s DE-188 Jolink, Albert Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005551846&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Daal, Jan van Jolink, Albert The equilibrium economics of Léon Walras Walras, Leon Walras, Léon <1834-1910> Walras, Léon 1834-1910 (DE-588)118806068 gnd Evenwichtsmodellen (Economie) gtt Mathematisches Modell Equilibrium (Economics) Mathematical models Gleichgewichtstheorie (DE-588)4071876-1 gnd Walrasianisches Gleichgewicht (DE-588)4121896-6 gnd |
| subject_GND | (DE-588)118806068 (DE-588)4071876-1 (DE-588)4121896-6 |
| title | The equilibrium economics of Léon Walras |
| title_auth | The equilibrium economics of Léon Walras |
| title_exact_search | The equilibrium economics of Léon Walras |
| title_full | The equilibrium economics of Léon Walras Jan van Daal and Albert Jolink |
| title_fullStr | The equilibrium economics of Léon Walras Jan van Daal and Albert Jolink |
| title_full_unstemmed | The equilibrium economics of Léon Walras Jan van Daal and Albert Jolink |
| title_short | The equilibrium economics of Léon Walras |
| title_sort | the equilibrium economics of leon walras |
| topic | Walras, Leon Walras, Léon <1834-1910> Walras, Léon 1834-1910 (DE-588)118806068 gnd Evenwichtsmodellen (Economie) gtt Mathematisches Modell Equilibrium (Economics) Mathematical models Gleichgewichtstheorie (DE-588)4071876-1 gnd Walrasianisches Gleichgewicht (DE-588)4121896-6 gnd |
| topic_facet | Walras, Leon Walras, Léon <1834-1910> Walras, Léon 1834-1910 Evenwichtsmodellen (Economie) Mathematisches Modell Equilibrium (Economics) Mathematical models Gleichgewichtstheorie Walrasianisches Gleichgewicht |
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