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On the Nature of Economic Laws: Carl Menger and Léon Walras [Natura legilor economice în concepţia economiştilor Carl Menger şi Léon Walras]

Author

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  • Bălţătescu Ionela

    (Institutul de Economie Mondială, Academia Română)

Abstract

The purpose of the present paper is to emphasize, on the basis of a comparative study, the differences between Neoclassical School of economics and Austrian School’s approaches regarding the nature of economic laws – especially the differences between Carl Menger and Léon Walras’s conceptions. Their ideas depend largely on how each of them conceive the role and purpose of economic science.

Suggested Citation

  • Bălţătescu Ionela, 2015. "On the Nature of Economic Laws: Carl Menger and Léon Walras [Natura legilor economice în concepţia economiştilor Carl Menger şi Léon Walras]," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 03, September.
    • Handle: RePEc:oen:econom:y:2015:i:03:id:440
    as

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    More about this item

    Keywords

    nature of economic laws; Neoclassical School of economics; Austrian School of economics; Carl Menger; Léon Walras; human action;
    All these keywords.

    JEL classification:

    • B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches
    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian

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