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Walras and the NeoWalrasian Diversion

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  • Costa, Manuel Luís

Abstract

This paper addresses the question: How did the promising program set out in Leon Walras' mature writings come to be taken as laying the ground for a totally different line of problems in his later writings and in modern microeconomic theory? The study of Walras' mature work (see Walker, 1996) offers an instructive object lesson in the way in which an interesting line of enquiry leads gradually to analytical difficulties and then to “solutions†that evade issues and constitute a major diversion of analysis down roads not initially contemplated by its originator. This paper attempts to trace the development of that detour from the main road of economic analysis in Walras' mature work to the side road of abstract exercises in contemporary neowalrasian literature.

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  • Costa, Manuel Luís, 1998. "Walras and the NeoWalrasian Diversion," Journal of the History of Economic Thought, Cambridge University Press, vol. 20(1), pages 51-69, March.
    • Handle: RePEc:cup:jhisec:v:20:y:1998:i:01:p:51-69_00
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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.

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