Pure economics is, in essence, the theory of price determination under a hypothetical regime of absolute free competition.
L'economie politique pure est, en essence, la theorie de la determination des prix sous un regime hypothetique de libre concurrence absolue.
Economists
Léon Walras
Born 1834, France. Formulated general equilibrium as simultaneous equations. Ignored in lifetime, called greatest pure theorist by Schumpeter. Founded the Lausanne school.
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