Walrasn.
/ˈvalrɑː/ Walras' law n. the mathematical theory of general economic equilibrium devised by Walras.
ΘΚΠ
society > trade and finance > management of money > management of national resources > [noun] > political economy > specific theories or doctrines
Ricardianism1827
protectionism1846
physiocracy1856
Smithianism1880
quantity theory1885
physiocratism1890
fiscalism1892
tariffism1903
cameralism1909
marginalism1912
rationalism1915
consumerism1921
Kondratieff1935
Keynesian economics1940
Keynesianism1942
Walras' law1942
Chicago school1949
Paretanism1949
neo-Keynesianism1961
Okun's Law1962
structuralism1962
monetarism1967
market fundamentalism1984
1942 O. Lange in O. Lange et al. Stud. Math. Econ. 50 I propose to call this identity Walras' law because Walras was the first to recognize its fundamental importance in the formulation of the mathematical theory of prices.
1964 Q. Jrnl. Econ. 78 485 Walras' Law..states that the value of all goods demanded, including money, is equal to the value of all goods supplied.
1972 T. Sowell Say's Law i. 34 Walras' Law states that the sum of the respective values (quantities times money prices) of goods supplied plus money supplied equals the sum of the respective values (quantities times money prices) of goods demanded plus money demanded.
Derivatives
Walrasian adj. /vælˈreɪsɪən/ of or pertaining to this theory.
/vælˈreɪsɪən/ of or pertaining to this theory.ΘΚΠ
society > trade and finance > management of money > management of national resources > [adjective] > of or relating to specific theories or doctrines
physiocratical1789
Smithian1801
physiocratic1804
protective1822
Ricardian1824
cameralistic1831
Marshallian1894
monetarist1914
Paretian1916
neoclassical1926
marginalist1929
Keynesian1931
underconsumptionist1936
pre-Keynesian1939
Walrasian1942
trickle-down1944
neo-Keynesian1947
Schumpeterian1950
structuralist1962
monetaristic1972
market fundamentalist1997
1942 W. Jaffé in O. Lange et al. Stud. Math. Econ. 37 The affinities..between these older Walrasian theories and their independently discovered Keynesian counterparts.
1963 Canad. Jrnl. Econ. & Polit. Sci. 29 535 (heading) A note on Marshallian versus Walrasian stability conditions.
1972 Times 26 Oct. 8/6 Sir John [Hicks]..moved away from the partial equilibrium approach of Alfred Marshall back towards the older Continental Walrasian ‘general equilibrium’ approach.
1983 Economics Lett. XIII. 49 The possibility of transfer paradoxes in Walrasian stable markets.
This entry has not yet been fully updated (first published 1986; most recently modified version published online September 2019).
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n.1942