Suchergebnisse

2010 marks the hundredth anniversary of the death of Léon Walras, the brilliant originator and first formaliser of general equilibrium theory - one of the pillars of modern economic theory. In advancing much derided practical solutions Walras also displayed more concern for the problems of living in a second best world than is common in modern pure theories of the invisible hand, efficient market hypothesis, DSGE macroeconomics or the thinking of some contemporary free market admirers all based on general equilibrium theory.This book brings contributions from the likes of Kenn.

Cet article examine les usages faits par Pareto de sa théorie économique pure dans la construction de sa sociologie. Après une discussion des différences méthodologiques (discipline quantitative vs discipline qualitative) et de la continuité conceptuelle entre économie pure et sociologie, l'article examine la notion d'utilité (ophélimité), les parallèles entre l'équilibre économique général et l'équilibre social du Traité de sociologie générale pour finalement aborder la difficile réconciliation dans le cadre de l'économie du bien-être naissante entre l'optimum parétien et l'utilité sociale maximum. Cette contribution permet de rappeler aux économistes qu'au-delà de la « première approximation » de la théorie du choix rationnel fondée sur des agents pour lesquels la société n'est que « fonctionnelle », Pareto propose en fait une introduction à une théorie de l'action érigée au sein d'une société dans laquelle les individus font preuve d'un degré substantiel de sociabilité.

This article examines the evolution of Sismondi's price theory as well as his concept of market from 1803 to 1838. Sismondi's early 1803 price theory in terms of supply and demand is first examined and contrasted with that of Smith in the Wealth of Nations. The progressive alterations brought to this initial formulation are discussed with the help of the relevant chapters from Nouveaux Principes ([1819] 1827) and from Études (1836–1838). In price theory terms, throughout the years Sismondi grew more and more skeptical about the process through which these prices would come about. Connecting this analytical issue with his concept of republican justice, he comes to the conclusion that a market economy characterized by unlimited competition will never lead to a socially desirable solution: such an order is neither efficient, nor natural or spontaneous and political economy is not morally neutral. In short, for Sismondi, the market never stood alone while, for him, the Ricardian approach gave nearly exclusive pride of place to market in the pursuit of wealth and happiness.