The Hand(s) Behind Walras’ and Pareto’s Invisible Hand
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The Hand(s) Behind Walras’ and Pareto’s Invisible Hand
Journal of Contextual Economics – Schmollers Jahrbuch, Online First : pp. 1–8
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Pascal Bridel, Walras-Pareto Centre, Faculty of Social and Political Sciences, Quartier UNIL-Mouline, Bâtiment Géopolis, 1015 Lausanne, Switzerland
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Abstract
Following Mittermaier’s search for “the hand behind the invisible hand” and using some results of my research on the so-called Lausanne school, this article attempts to discuss the two very different invisible hands behind Walras’ and Pareto’s respective version of general equilibrium. Unlike Mittermaier, today, researchers on Walras and Pareto are blessed with the existence of both men’s collected writings allowing them to get a much broader view of what exactly are the hands behind their respective versions of the general equilibrium invisible hand.