General Equilibrium Analysis: A Century after Walras by Pascal BridelGeneral Equilibrium Analysis: A Century after Walras by Pascal Bridel

General Equilibrium Analysis: A Century after Walras

EditorPascal Bridel

Hardcover | July 14, 2011

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2010 marks the hundredth anniversary of the death of L' Walras, the brilliant originator and first formaliser of general equilibrium theory ' one of the pillars of modern economic theory. In advancing much derided practical solutions Walras also displayed more concern for the problems of living in a second best world than is common in modern pure theories of the invisible hand, efficient market hypothesis, DSGE macroeconomics or the thinking of some contemporary free market admirers all based on general equilibrium theory.

This book brings contributions from the likes of Kenneth Arrow, Alan Kirman, Richard Posner, Amartya Sen and Robert Solow to share their thoughts and reflections on the theoretical heritage of L' Walras. Some authors reminisce on the part they played in the development of modern general economics theory; others reflect on the crucial part played by general equilibrium in the development of macroeconomics, microeconomics, growth theory, welfare economics and the theory of justice; others still complain about the wrong path economic theory took under the influence of post 1945 developments in general equilibrium theory.

Pascal Bridelis Professor at the Department of Economics and Political Economy at the University of Lausanne, Switzerland.
Title:General Equilibrium Analysis: A Century after WalrasFormat:HardcoverDimensions:168 pages, 9.21 × 6.14 × 0.98 inPublished:July 14, 2011Publisher:Taylor and FrancisLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0415594642

ISBN - 13:9780415594646


Table of Contents

PrefacePascal Bridel 1. Walras: Pioneer of Illuminating ComplexityWilliam J. Baumol  2. L' Walras and Monetary Economics  3. The Normative Origins of General Equilibrium Theory: Or Walras's Attempts at Reconciling Economic Efficiency and Social JusticePascal Bridel 4. Walras, Keynes, and the 'Great Recession'Richard A. Posner 5. The Stability of General Equilibrium - What Do We Know and Why Is It Important?Franklin M. Fisher 6. The Computation of Equilibria for the Walrasian Model: A Personal AccountHerbert E. Scarf 7. Walras, Non-Clearing Markets and Imperfect CompetitionJean-PascalB'ssy 8. General Equilibrium Theory and Public FinanceAnthony B. Atkinson 9. Macroeconomics and the Uses of General EquilibriumRobert M. Solow 10. Credit Instruments and Information to General EquilibriumKenneth J. Arrow 11. Walras's Unfortunate LegacyAlan Kirman 12. On Walras's ModernityRoger Guesnerie