Valras Brief biography

Leon Walras - Brief Biography Leon Walras was an epoch -making French economist, one of the leading representatives of the Ne -classical school of political economy. He became the first scientist to propose the mathematization of the economy. He personally deduced the formula for general economic equilibrium, became the author of the law of equality of supply and demand of the economic system in modern interpretation.

He was the son of another prominent economist and philosopher Auguste Valras. The beginning of the path Leon Valras was born on December 16 in Evre in France. The father of the future great economist was Auguste Valras, also an economist, one of the founders of the theory of marginalism, in fact, the first macroeconomic theory of market analysis. Initially, Leon did not want to follow the stupids of his father, entering the University of Paris with a degree in Literature.

He graduated from him in G. later, he also tried to study at the Mining University, but did not graduate from him, trying to become a journalist. In journalism, Leon also did not succeed. Then he returned to his vocation - the social sciences - and decided to continue his father's work. Valras-Jr.: The career of an economist, in the framework of economic science, Leon became the successor of the case of his OCTU.

He absorbed the basic ideas of his works, such as the introduction of elements of socialism into a harmonious model of the state economy, which implies, in particular, the nationalization of all lands. From his father, he also inherited a fundamentally new methodological approach to the economy - mathematization.

In other words, he represented the economy more as accurate than humanitarian science, the laws of which can be expressed by objective formulas. He became invited to gain popularity as economist Leon Valras with G. after a triumphal speech he was invited to teach and work in this institution, to which Leon agreed. At the University of Lausann, he worked as well as until his resignation of the department of the department, the main achievements of Valras Jr.

as an economist, who had developed the theory of general economic equilibrium, who had the demand for the demand, was considered to be equal to the proposal, including in world economics. Leon became one of the first economists to consider economic processes globally, and not in separate countries. Confessing his theory, he warned the great powers of his time from the pursuit of building production, believing that sooner or later products would simply have nowhere to be saved, which will lead to an increase in international tension.

The prediction of Valras was partly came true, because the economic race led to the First World War, which Leon did not find. Valras also was the first to allocate four types of markets - financial, consumer services, labor and capital. The first to propose mathematical formulas for describing economic processes, becoming one of the founders of marginalism in the economy.

The conclusion of Leon Walras is considered one of the outstanding economists of the BB line. Its slender economic models remain relevant to this day, and although their achievement is doubtful, they have become a bar, an objective feature for measuring the economic successes of states around the world. Use the site search. There is everything in history.