TEACHING GENERAL EQUILIBRIUM THEORY IN THE EARLY TWENTIETH CENTURY: AN ANALYSIS OF TREATISES

Lúcia Regina Centurião

Journal of the History of Economic Thought, 2025, vol. 47, issue 3, 394-416

Abstract: This paper investigates the teaching of Walrasian general equilibrium theory in the early twentieth century through an analysis of three treatises: Arthur Bowley’s The Mathematical Groundwork of Economics (1924), Gustav Cassel’s The Theory of Social Economy (1924), and Étienne Antonelli’s Principes d’économie pure (1914). Despite their original contributions, the three works were also intended to be read by students. Examining these treatises contributes to a historical understanding of pre-war economics education literature and sheds light on the evolution of mathematical economics, particularly within the context of the educational process. The paper concludes that while all three treatises presented Léon Walras’s general equilibrium framework, they simultaneously reflected diverse fundamental beliefs about economic science, such as its objective and scope. Notably, there was no singular dominant group appropriating Walras’s model. However, a content analysis revealed structural similarities among the treatises.

Date: 2025
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