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Léon Walras

Léon Walras
Léon Walras, French-Swiss economist and theorist (d. 1910)

Marie-Esprit-Léon Walras was a French mathematical economist and Georgist. He formulated the marginal theory of value and pioneered the development of general equilibrium theory. Walras is best known for his book Éléments d'économie politique pure, a work that has contributed greatly to the mathematization of economics through the concept of general equilibrium. The definition of the role of the entrepreneur found in it was also taken up and amplified by Joseph Schumpeter.

16 December 1834

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Born in the same month (December 1834): Kapiʻolani