Studies in Applied EconomicsAuthor(s): Lon Walras\nFormat: Paperback\nPublisher: Taylor & Francis Ltd, United Kingdom\nImprint: Routledge\nISBN-13: 9781041275411, 978-1041275411\nSynopsis\nFirst Published in 2004. Studies in Applied Economics is an English translation of tudes dconomie politique applique [tel] by Lon Walras [tel]. Until now, lments dconomie politique pure [tel] was the only book by Walras available in English (Elements of Pure Economics, 1954). It contains the theory of general economic equilibrium under free competition, with the concept of utility maximization as its core. Walrass conclusion was that where free competition is possible, it should be the rule. So, in the present book, he advocates protective regulation, within which economic agents may compete freely. For water, gas or railway transport, for instance, where free competition is impossible, rules are formulated to maintain its advantages. Issues such as money, capital, credit, banking and the stock.