chapter  4
4 Walras, Keynes, and the ‘Great Recession’
ByRICHARD A. POSNER
Pages 10

I am honored, but also humbled, to be asked to write about Léon Walras, as my knowledge of general-equilibrium theory in general, and of Walras’s contribution in particular, is meager. But the subject is inescapable to one like me who has written about the current economic crisis (Posner 2009 and 2010), and so I shall make bold to venture a few tentative remarks about the subject.