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5 - To Which Kind of Welfare Did Léon Walras Refer?
from Part I - Plurality of Welfare in the Making of Welfare Economics
- By Richard Arena
Edited by Roger E. Backhouse, Antoinette Baujard, Tamotsu Nishizawa
Book:

Welfare Theory, Public Action, and Ethical Values

Published online:

04 March 2021

Print publication:

25 March 2021, pp 118-134
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Summary

Léon Walras is often assumed, at least implicitly, to be a welfarist on the grounds that his work is generally considered to be the origin of the first social welfare theorems and therefore a forerunner of Pareto optimality. This chapter argues that such a view contradicts the basic foundations of Walras’s economic and social philosophy and especially his conceptions of society and of individuals. If we take seriously Walras’s distinction between “general social conditions” (“conditions sociales générales”) and “specific personal positions” (“positions personnelles particulières”), we can develop an alternative interpretation of his views on welfare, which leads in turn to a different, non-welfarist, conception of the Walrasian view of the state.