
"The Principles of Economics" (by Leon Walras)
"The Principles of Economics" by Léon Walras introduces the idea of general equilibrium, where markets for goods, services, and resources interact simultaneously to find a balanced state. He emphasizes how supply and demand across all markets influence prices and allocations, creating a cohesive economic system. Walras also explores how choices made by consumers and producers lead to optimal resource distribution, highlighting the importance of prices as signals for balancing supply and demand. His work laid the foundation for modern economic theory, illustrating how interconnected markets adjust together toward equilibrium.