Leon Walras

Léon Walras was a French-born economist who pioneered the development of general equilibrium theory and marginal utility theory. He 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. He also advocated for the nationalization of land and the abolition of taxes other than a land tax. He was influenced by rationalism, utilitarianism, and Georgism. He taught at the University of Lausanne and founded the Lausanne school of economics. He was also interested in social reform, cooperatives, and philosophy. He retired in 1892 and died in 1910 from heart failure. He is widely regarded as one of the greatest economists of all time.