2. From the Theory of Five Stages to the “Industrial and Commercial Regime”

This chapter delves into Léon Walras's theory of economic stages and his vision of the 'industrial and commercial regime' during the 19th century. It explores his ideas related to 'modern industry', the industrial revolution, the role of machinery, and the relationship between science and industry. The text also examines Walras's theory of the different stages of economic evolution of society, including the 'savage stage', 'pastoral stage', 'agricultural stage', 'industrial stage', and 'commercial stage'. It highlights the characteristics of the 'industrial and commercial regime' that emerged during the 19th century and its future prospects. The chapter also discusses the transition from one stage to another, the role of revolutions in this process, and the impact of the 'industrial and commercial regime' on economic thought and social organisation. Walras's views on the threat of 'Americanism' to European civilisation are also explored, providing a unique perspective on the economic and social transformations of the time.