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From Walras to Pareto (Hardcover, 2006 ed.)
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From Walras to Pareto (Hardcover, 2006 ed.)
Series: The European Heritage in Economics and the Social Sciences, 4
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One may have various reasons for compiling a volume of papers
devoted to and inspired by Walras and Pareto. Pareto succeeded
Walras in 1893 on the chair of Political Economy at the University
of Lausanne. The relation between the two was not always without
tensions, although Pareto, on the occasion of his 25 years jubilee
celebration, at least in part, transferred the honours offered to
him to Walras. Indeed, one may say that to a substantial extent
important parts of the works of Pareto would not have been possible
without the insights of Walras. Both eminent scientists also have
in common that the image of their inheritance professed to the
common university trained economic scholars ('cutes') is a highly
restricted caricature of the fullnes of their essential insights
and contributions, and students of sociology or politicology may
even finish their academic studies without ever having heard the
name of Pareto. What cutes know about Walras amounts to the
following caricature. Walras developed the general economic
equilibrium model, but did not care about uniqueness and stability
of an equilibrium. who announces price vectors to establish the
equilibrium. The model presupposes perfect information and is
static and certainly not dynamic. Walras had a bias towards free
competition and laisser faire and neglected monopoly and taxation.
Pareto is known by the cutes as the founding father of welfare
economics. At best, one is informed the notions of
Pareto-optimality conditions and the first and second welfare
theorems. But welfare economics is in general disappearing from the
university research and teaching programs, replaced as it is by
consumer and producer surpluses in the nowadays flourishing partial
industrial economics programs. In this thought-provoking
collection, ten international scholars offer reflections and new
interpretations of Walras' and Pareto's unique contributions to
topics as broad as the over-arching important of the social
sciences, the development of modern microeconomics and (in
particular) econometrics, political economy and public choice, and
political sociology. economic history, political sociology, and the
social sciences.
General
Imprint: |
Springer-Verlag New York
|
Country of origin: |
United States |
Series: |
The European Heritage in Economics and the Social Sciences, 4 |
Release date: |
September 2006 |
First published: |
2006 |
Editors: |
Jurgen Backhaus
• J.A. Hans Maks
|
Dimensions: |
235 x 155 x 9mm (L x W x T) |
Format: |
Hardcover
|
Pages: |
138 |
Edition: |
2006 ed. |
ISBN-13: |
978-0-387-33756-2 |
Categories: |
Books >
Business & Economics >
Economics >
General
|
LSN: |
0-387-33756-3 |
Barcode: |
9780387337562 |
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