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On the modernity of Walras

Author

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  • Roger Guesnerie

    (Collège de France - Chaire Théorie économique et organisation sociale - CdF (institution) - Collège de France, PSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

This text is to appear in a volume produced at the occasion of the 100th anniversary of Léon Walras death. The first part (introduction) answers one initial demand (to the solicited authors), i.e the evaluation of Walras influence on their own research and more generally on contemporary research. The second part "Between the Capitol Hill and the Tarpeian Rock?" goes further into the discussion of the contemporary status of the intellectual schemes inherited from the development of the walrasian program. The third part argues that part of the questions raised by Walras, f.e those concerning the mechanics of price adjustments, have not yet received satisfactory answers. It then argued that a post-walrasian program, with a strong focus on the explanation of market expectations, is on the agenda.

Suggested Citation

  • Roger Guesnerie, 2010. "On the modernity of Walras," PSE Working Papers halshs-00565008, HAL.
    • Handle: RePEc:hal:psewpa:halshs-00565008
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00565008
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    Keywords

    Léon Walras; walrasian program; market expectations;
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