Walras was one of the three leaders of the marginalist revolution, even though his greatest work, Elements of Pure Economics (1874), was published three years after dissemination of marginalist ideas by William Stanley Jevons and Carl Menger.
Professor at the University of Lausanne, Switzerland, Walras is credited for having founded what subsequently became known, under direction of his Italian disciple, the economist and sociologist Vilfredo Pareto, as the Lausanne school of economics.
Walras was one of the three leaders of the marginalist revolution, even though his greatest work, Elements of Pure Economics (1874), was published three years after dissemination of marginalist ideas by William Stanley Jevons and Carl Menger.
Walras (pronounced "Valrasse") was one of the three progenitors of the "Marginalist Revolution" of 1871 - although his great work, Elements of Pure Economics, was published in 1874, three years after Jevons and Menger.
In 1893, Walras was suceeeded by his young admirer, Vilfredo Pareto and the two men formed the core (and some argue the full extent) of the Lausanne School.
Walras envisaged these works to be complementary to the Elements and considered the three volumes as integral and essential pillars for his theory.
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