Walrasian
(en)
referring to the theories of 19th-century Swiss economist Leon Walras (that relative prices can find a system-wide or general equilibrium)
Highlighted phrases
walrasian
The idea that those relative prices can find a system-wide equilibrium is the heart of the neoclassical theory of value, a theory often called "Walrasian"
footnote 14
notable
7 years, 5 months ago