11. Ideas and Men: Criticism of the French “Liberal School”

Léon Walras' critique of the French 'Liberal School' of economics reveals a complex web of ideological clashes and personal rivalries. The text delves into Walras' attacks on individual economists, such as Michel Chevalier, Henri Baudrillart, Paul Leroy-Beaulieu, Émile Levasseur, and Léon Say, highlighting their resistance to his mathematical approach and ideas on state intervention. The critique extends to the institutional strongholds of the 'Liberal School', including the Académie des sciences morales et politiques and the Journal des Économistes. Walras' criticisms are not merely theoretical but also personal, reflecting deep-seated animosities and professional jealousies. The text also explores the broader implications of these conflicts, including the stifling of innovative economic theories and the dominance of a conservative orthodoxy. Ultimately, the critique offers a nuanced understanding of the political and academic dynamics that shaped French economic thought in the 19th century.