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    Lindley Fraser's Copy of
    Léon Walras'
    Elements

    Léon Walras. [Lindley Fraser's copy]. Éléments d'Économie Politique Pure ou Théorie de la Richesse Sociale. Lausanne: F. Rouge, 1889. Second edition, revised, corrected and enlarged. From the library of the economist Lindley Fraser, signed and dated on front free endpaper: "L.M. Fraser/ Queen's/ [Oxford/ October, 1928]". Octavo. xxiv, 523 pages. French text. Six folding plates. Bound in cream buckram with title in black on spine, faded date printed askew at foot. Binding rubbed and soiled, spine and boards darkened, front joint cracking. Pages in gathering "19" with creases and indentations, few holograph pencil notes, over sewing visible at Plate II facing page 192. Pages in general with light edge wear, creases, occasional foxing and minor soiling. Very good.

    More Information:

    In 1870, at the age of 36 he [Leon Walras] was narrowly voted into a newly-created post of professor of political Economy at the University of Lausanne where he remained for over 20 years. Once he obtained the Lausanne Chair...Most of his efforts were taken up with polishing successive editions of the "Elements" (1889, 1896, 1900), each of which added huge chunks to the first edition. Posthumous appreciation of Walras's monumental achievement has grown so markedly since the 1930s that he may now be the most widely-read nineteenth-century economist after Ricardo and Marx, particularly since the translation of the "Elements" into English in 1954.

     

    Quoting Schumpeter 'As far as pure theory is concerned, Walras is in my opinion the greatest of all economists. His system of economic equilibrium, uniting as it does the quality of the only work by an economist that will stand comparison with the achievements of theoretical physics'. (Blaug - Great Economists Before Keynes pp. 262-264).

     

    Lindley Fraser (1904-1963) was a British economist and broadcaster. In 1928 he became a fellow at Queen's College Oxford where he was described as "a man of most acute mind and versatile gifts". Among his students was Harold Wilson, later Prime Minister of the United Kingdom. (ODNB).



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