Download The Vision of Leon Walras AudioBook Free

Original material by Dr. Donald Walker, Professor of Economics at Indiana University of Pennsylvania, Edited by Dr. Israel Kirzner of NY University and Mike Hassel of Knowledge Products, Produced by Pat Childs Léon Walras (1834-1910) transformed economics from a literary discipline into a mathematical, deterministic science. For the very first time, Walras expressed the view that all markets are related and this their relationships can be described and analyzed mathematically. These interrelated markets undergo a constant interactive adjustment process tending toward benign balance or “general equilibrium.” Walras compared this system to the stars, where changes in a single place may impact seemingly distant elements of the machine. This conception of economics resulted in important new insights about the stability of markets and about the capitalist economical system. The present day application of computers to general equilibrium models has created new ways to review and understand economical events. THE FANTASTIC Economic Thinkers Series are sound presentations that describe the major ideas of history’s most important economists.

Category: Philosophers