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Marie-Esprit-Léon Walras (French: ; 16 December 1834 – 5 January 1910) was a French mathematical economist and Georgist. He formulated the marginal theory of value (independently of William Stanley Jevons and Carl Menger ) and pioneered the development of general equilibrium theory .
Léon Walras, in full Marie-Esprit-Léon Walras, (born December 16, 1834, Évreux, France—died January 5, 1910, Clarens, near Montreux, Switzerland), French-born economist whose work Éléments d’économie politique pure (1874–77; Elements of Pure Economics) was one of the first comprehensive mathematical analyses of general economic ...
Marie-Esprit-Léon Walras (December 16, 1834 – January 5, 1910) was a French economist. Although not influential in his lifetime, his contributions to economic theory later came to be studied and respected worldwide. Separately, but almost simultaneously with William Stanley Jevons and Carl Menger, Walras developed the idea of marginal ...
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Léon Walras (1834-1910), whose full name was Marie Esprit Léon Walras (the final “s” is sounded), is celebrated among economists and econometricians as the first to have formulated a multiequational general equilibrium model of economic relationships. He was born on December 16, 1834, in Évreux, a provincial town of Normandy, France.
Walras’s sole academic job was as an economics professor at the University of Lausanne in Switzerland. This location was not ideal: because the dominant thinking in economics at the time was in Britain, it was difficult for Walras to affect the rest of the profession.
Léon Walras: Father of general equilibrium theory. With no formal training as an economist and with very unorthodox views and methods perceived as esoteric, Léon Walras struggled to be admitted into the community of economic scholars as a peer, let alone an authority.
Léon Walras is widely and rightfully regarded as the father of general equilibrium theory. From any biography, the principal elements of Walras's life can be told. He was the son of the French proto-marginalist economist and schoolteacher, Auguste Walras .
Leon Walras is known primarily for developing general equilibrium analysis. He took a very abstract and theoretical problem about how all markets in an economy are related, applied sophisticated mathematics to the problem, and arrived at a solution.
Léon Walras is the 35th most popular economist, the 553rd most popular biography from France (up from 582nd in 2019) and the 6th most popular French Economist. Léon Walras is most famous for his work in the field of economics. He is known for being the first person to develop a mathematical model of the economy as a whole.
French economist Marie-Esprit-Léon Walras (16 December 1834–5 January 1910) is best known for revolutionizing economics with his mathematical formulation of the mechanics of the price system. He presented equations that tied together theories of production, exchange, money and capital.
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