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Perhaps as important is the relation between the existence of solutions to a competitive equilibrium and the problems of normative or welfare economics.

— Gérard Debreu

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More quotes by Gérard Debreu

I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium.

L. Walras first formulated the state of the economic system at any point of time as the solution of a system of simultaneous equations representing the demand for goods by consumers, the supply of goods by producers and the equilibrium condition that supply equal demand on every market.

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