See Also: Walras' law(dictionary)
Walras, (Marie-Esprit-) Leon(encyclopedia)

Walras' law (iou)



Walras' law noun phr. M20.
[M. E. L. Walras (1834-1910), French economist.]
Economics. The law that the total value of goods and money supplied equals that of goods and money demanded.
Walrasian adjective of or pertaining to the economic theories of Walras M20.