Share this entry
Walras' law Syllabification: Wal·ras' law
Pronunciation: /ˈvalras ˌlô/

Definition of Walras' law in English:

A law stating that the total value of goods and money supplied equals that of goods and money demanded.


Example sentences
  • He does not view modern finance as being Walrasian, that is, a theory of mutual determination of markets, real and financial.
  • Schumpeter explicitly credits the equilibrium-based Walrasian system as a scientific foundation for economics.
  • According to Montes, Smith was not a proponent of a mathematical-deductive method and he was certainly not a proponent of an embryonic form of Walrasian general equilibrium theory.


1940s: named after M. E. Léon Walras (1834–1910), French economist.

Definition of Walras' law in:
Share this entry

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Subscribe to remove ads and access premium resources