Walras, Leontief, and the Interdependence of Economic Activities

Robert E. Kuenne

The Quarterly Journal of Economics, 1954, vol. 68, issue 3, 323-354

Abstract: I. Introduction, 323. — II. The Walrasian model, 325; the household sector, 325; the entrepreneurial sector, 336; the investment sector, 341; secondary conditions, 344. — III. Criticism of the Walrasian model, 345; the static nature of the model, 345; the purely competitive nature of the model, 347; the omission of important sectors from the model, 349. — IV. The Leontief open system, 349.

Date: 1954
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