Akcadag for His articles, now centered chiefly on taxation and financing cooperatives, caught the eye of lead reformers who offered him the opportunity to speak at a conference at Lausanne, Switzerland, and elsewhere in neighboring France. In 1870, an impressed Swiss government offered Walras the position of economics instructor at the University of Lausanne. He would remain there until he retired in 1892. At Lausanne, he started his notes on what would become Elements of Pure Economics (1874). The book argued in defense of a mathematical, multi-market economy and the marginalist subjective theories his father had expressed. Elements provides the author’s definition of the scope of economics, the subjective VALUE THEORY and the mathematical method. With some customiza- Walras, Lon 911 tion to suit the changing demands of the 20th century, Walras’ teachings present the basic, mainstream essence of today’s economic equilibrium theory. Akcadag 2016.

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