IDEAS home Printed from https://ideas.repec.org/a/taf/eujhet/v19y2012i5p765-783.html
   My bibliography  Save this article

Marshall and Walras: Incompatible bedfellows?

Author

Listed:
  • Michel De Vroey

Abstract

The standard view about the relationship between the Marshallian and the Walrasian approaches is that they are complementary to each other. My aim in this paper is to show that, on the contrary, they constitute alternative sub-research programmes within the wider neoclassical paradigm. I make my point by contrasting the two approaches against the following benchmarks: the purpose of economic theory according to Marshall and Walras; their views as to the role of mathematics; their specific ways of tackling complexity; the conception of equilibrium underpinning their theories; and, finally, their trade organisation assumptions.

Suggested Citation

  • Michel De Vroey, 2012. "Marshall and Walras: Incompatible bedfellows?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 19(5), pages 765-783, October.
    • Handle: RePEc:taf:eujhet:v:19:y:2012:i:5:p:765-783
    DOI: 10.1080/09672567.2010.540345
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/09672567.2010.540345
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09672567.2010.540345?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Wagner, Alfred, 1891. "Marshall's Principles of Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
    2. Peter Groenewegen, 1995. "A SOARING EAGLE: Alfred Marshall 1842–1924," Books, Edward Elgar Publishing, number 193.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. De Vroey Michel & Duarte Pedro Garcia, 2013. "In search of lost time: the neoclassical synthesis," The B.E. Journal of Macroeconomics, De Gruyter, vol. 13(1), pages 965-995, January.
    2. Michel De Vroey, 2014. "Backhouse and Boianovsky on "disequilibrium theory". A review article of transforming modern macroeconomics. Exploring disequilibrium microfoundations, 1956-2003," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 21(4), pages 724-742, August.
    3. De Vroey, Michel, 2011. "Lucas on the relationship between theory and ideology," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 5, pages 1-39.
    4. Richard Arena & Katia Caldari, 2019. "Léon Walras and Alfred Marshall: Microeconomic Rational Choice or Human and Social Nature?," GREDEG Working Papers 2019-33, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    5. Michel De Vroey, 2012. "Microfoundations: A Decisive Dividing Line between Keynesian and New Classical Macroeconomics?," Chapters, in: Microfoundations Reconsidered, chapter 5, Edward Elgar Publishing.
    6. Pierrick Clerc & Michel De Vroey, 2020. "Brunner Versus Friedman: Diverging Aspirations For The Monetarist Project," LIDAM Discussion Papers IRES 2020027, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    7. Michel de Vroey, 2018. "The History of Recent Macroeconomics Through the Lens of the Marshall-Walras Divide," LIDAM Discussion Papers IRES 2018018, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    8. Richard Arena & Katia Caldari, 2019. "Léon Walras and Alfred Marshall : microeconomic rational choice or human and social nature?," Working Papers halshs-02400844, HAL.
    9. Poitras, Geoffrey, 2018. "The pre-history of econophysics and the history of economics: Boltzmann versus the marginalists," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 507(C), pages 89-98.
    10. Marek Hudik, 2019. "Two interpretations of the rational choice theory and the relevance of behavioral critique," Rationality and Society, , vol. 31(4), pages 464-489, November.
    11. Michel De Vroey, 2010. "Getting rid of Keynes ? A survey of the history of macroeconomics from Keynes to Lucas and beyond," Working Paper Research 187, National Bank of Belgium.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Richard Nielsen & Felipe Massa, 2013. "Reintegrating Ethics and Institutional Theories," Journal of Business Ethics, Springer, vol. 115(1), pages 135-147, June.
    2. Michael V. White, 2015. "A peculiar archaeology: Searching for Mr Giffen's behaviour," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 22(1), pages 26-50, February.
    3. Yariv, Leeat & Jackson, Matthew O., 2018. "The Non-Existence of Representative Agents," CEPR Discussion Papers 13397, C.E.P.R. Discussion Papers.
    4. SAITO Yukiko, 2013. "Role of Hub Firms in Geographical Transaction Network," Discussion papers 13080, Research Institute of Economy, Trade and Industry (RIETI).
    5. Emanuela Marrocu & Raffaele Paci & Stefano Usai, 2013. "Productivity Growth In The Old And New Europe: The Role Of Agglomeration Externalities," Journal of Regional Science, Wiley Blackwell, vol. 53(3), pages 418-442, August.
    6. Kristien Werck & Bruno Heyndels & Benny Geys, 2008. "The impact of ‘central places’ on spatial spending patterns: evidence from Flemish local government cultural expenditures," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 32(1), pages 35-58, March.
    7. Michal Brzezinski, 2010. "Marshall in Poland," Chapters, in: Tiziano Raffaelli & Giacomo Becattini & Katia Caldari & Marco Dardi (ed.), The Impact of Alfred Marshall’s Ideas, chapter 11, Edward Elgar Publishing.
    8. Giulia Faggio & Olmo Silva & William C Strange, 2020. "Tales of the city: what do agglomeration cases tell us about agglomeration in general? [The anchor tenant hypothesis: exploring the role of large, local, R&D-intensive firms in regional innovation ," Journal of Economic Geography, Oxford University Press, vol. 20(5), pages 1117-1143.
    9. Paola Tubaro, 2009. "Is individual rationality essential to market price formation? The contribution of zero-intelligence agent trading models," Journal of Economic Methodology, Taylor & Francis Journals, vol. 16(1), pages 1-19.
    10. H. W. Arndt, 1984. "Political Economy," The Economic Record, The Economic Society of Australia, vol. 60(3), pages 266-273, September.
    11. Roberto Ganau & Andrés Rodríguez-Pose, 2022. "Does urban concentration matter for changes in country economic performance?," Urban Studies, Urban Studies Journal Limited, vol. 59(6), pages 1275-1299, May.
    12. Amy Glasmeier, 2007. "Book Reviews," Regional Studies, Taylor & Francis Journals, vol. 41(6), pages 867-870.
    13. Han, Feng & Ke, Shanzi, 2016. "The effects of factor proximity and market potential on urban manufacturing output," China Economic Review, Elsevier, vol. 39(C), pages 31-45.
    14. Diemer, Andreas & Regan, Tanner, 2022. "No inventor is an island: Social connectedness and the geography of knowledge flows in the US," Research Policy, Elsevier, vol. 51(2).
    15. Duranton, Gilles & Puga, Diego, 2014. "The Growth of Cities," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 5, pages 781-853, Elsevier.
    16. Otsuka, Akihiro, 2023. "Industrial electricity consumption efficiency and energy policy in Japan," Utilities Policy, Elsevier, vol. 81(C).
    17. Martin, Philippe & Mayer, Thierry & Mayneris, Florian, 2011. "Spatial concentration and plant-level productivity in France," Journal of Urban Economics, Elsevier, vol. 69(2), pages 182-195, March.
    18. Yener Altunbaş & Edward Jones & John Thornton, 2013. "Knowledge spillovers and the growth of British cities," Applied Economics Letters, Taylor & Francis Journals, vol. 20(2), pages 162-166, February.
    19. Markus Bugge, 2011. "Creative Distraction: Lack of Collective Learning in Adapting to Online Advertising in Oslo, Norway," Industry and Innovation, Taylor & Francis Journals, vol. 18(2), pages 227-248.
    20. Gibbons, Stephen & Silva, Olmo, 2008. "Urban density and pupil attainment," Journal of Urban Economics, Elsevier, vol. 63(2), pages 631-650, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:eujhet:v:19:y:2012:i:5:p:765-783. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/REJH20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.