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La neutralité du tâtonnement au regard de la répartition de la richesse dans la théorie de la production de Léon Walras. Le cas du tâtonnement sans bons des trois premières éditions des Éléments d'économie politique pure

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  • Élisabeth Huck

Abstract

After Bertrand?s criticism [1883], Walras introduces the rule of no trade out of equilibrium in his pure exchange theory. But, in the production theory of editions 1-3 of the Éléments, disequilibrium transactions occur in the course of the tâtonnement. An endogeneous redistribution of wealth could result in a hysteresis phenomenon but Walras attempts to prove the convergence of tâtonnement on general equilibrium. We show that this demonstration implies the neutrality of tâtonnement with respect to the distribution of wealth. The functioning hypotheses of the tâtonnement are aimed at eliminating any redistributive effect of desequilibrium transactions but this unfortunate attempt compels Walras to sacrifice the internal coherence of his model. Classification JEL : B13, D51

Suggested Citation

  • Élisabeth Huck, 2001. "La neutralité du tâtonnement au regard de la répartition de la richesse dans la théorie de la production de Léon Walras. Le cas du tâtonnement sans bons des trois premières éditions des Éléments d'éco," Revue économique, Presses de Sciences-Po, vol. 52(3), pages 729-738.
  • Handle: RePEc:cai:recosp:reco_523_0729
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    Cited by:

    1. Pascal Bridel & Elisabeth Huck, 2002. "Yet another look at Leon Walras's theory of tatonnement," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(4), pages 513-540.

    More about this item

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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