Name: Studies in Applied Economics
SKU: 64814664
Price: 552.00 ZAR
Availability: InStock
Author: Leon Walras
ISBN: 9781041275411

Type

Physical Book

Publisher

Routledge

Author

Leon Walras

Year

2025

Pages

264

Format

Paperback

Dimensions

23.4x15.6 cm

ISBN13

9781041275411

Studies in Applied Economics

Leon Walras (Author) · Routledge · Paperback

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Synopsis "Studies in Applied Economics"

First Published in 2004. Studies in Applied Economics is an English translation of Études d’économie politique appliquée (1898) by Léon Walras (1834–1910). Until now, Éléments d’économie 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: Éléments, Études d’économie sociale and this volume, Études d’économie politique appliquée. Walras’s aim was to provide an economic blueprint for a social ideal where poverty and similar evils could be banished.