Studies in Applied Economics

By Léon Walras

First Published in 2004. Studies in Applied Economics is an English translation of ?tudes d'?conomie politique appliqu?e (1898) by L?on Walras (1834-1910). Until now, ?l?ments d'?conomie 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: ?l?ments, ?tudes d'?conomie sociale and this volume, ?tudes d'?conomie politique appliqu?e. Walras's aim was to provide an economic blueprint for a social ideal where poverty and similar evils could be banished.

• Format: Hardcover
• Language: English
• ISBN: 0415346177
• ISBN13: 9780415346177
• Release Date: December 2004
• Publisher: Routledge
• Length: 264 Pages