Leon Walras podcast

This is from Economics in Ten podcast, season six, episode five. Walras was central to the Marginal Revolution, the shift in the late 19th century that transformed how economists think about value and price, and his general equilibrium theory laid the groundwork for how we model markets interacting with each other. Schumpeter called him ‘the greatest economist’, a bold claim that the episode interrogates with the usual mix of biography and ideas. This one is a bit more abstract than some other episodes, but for students who want to understand where modern price theory actually comes from, it’s genuinely illuminating. Best suited as extension material for students who are already confident with supply and demand and want to dig deeper into the theory.  Listen here