Walras - Definition and Overview

Marie-Ésprit-Léon Walras (December 16, 1834 in Évreux, France - January 5, 1910 in Clarens, near Montreux, Switzerland) was a French economist, considered by Joseph Schumpeter as "the greatest of all economists". He was a mathematical economist associated with the creation of the general equilibrium theory. He is credited for having founded what subsequently became known, under direction of his Italian disciple, the economist and sociologist Vilfredo Pareto, as the Lausanne school of economics.

Walras was one of the three leaders of the marginalist revolution, even though his greatest work, Elements of Pure Economics (1874), was published three years after dissemination of marginalist ideas by William Stanley Jevons and Carl Menger.

See also

• Gerard Debreu