Is Walras’s Theory so Different from Marshall’s?
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This paper shows that Marshall’s theory is generally equivalent to Walras’s one.
It shows that Walras used two types of demand functions: (1) the original (ordinary) demand curve (function); and (2) the derived (general) demand function.
Marshall also used both types of demand curves (function); however he did so in a very simplified and vague manner.
Therefore, Friedman’s statement that they are alternative theories is mistaken.