Walras in Spain（ 1874-1936）

Jesús Astigarraga Juan Zabalza

Abstract: This article focuses on the fate of Walras and Walrasian ideas in Spain, which should be contextualised within the coming of marginalism to Spain. Traditionally, it has been accepted that marginalism was almost forgotten by Spanish economists during the period of 1870 to 1936. This statement held on to the idea that Spanish econo- mists did not contribute in almost any way to the theoretical heritage at the time. However, this interpretation is misleading in that Spanish economists were well in- formed about the advances of economic theory and that they applied them to solve the problems of Spain’s economic backwardness. In particular, during the first third of the twentieth century, the main Spanish economists used a generic version of ‘na- tional equilibrium,’ which was merely a simplified adaptation of the Walrasian notion of equilibrium to the Spanish economy, for grappling with the problems of economic development. Three economists in particular, Antonio Flores de Lemus, Romà Per- piñá Grau and more specifically Manuel de Torres, used this version to support dif- ferent economic policies that were assumed to contend with economic backwardness. In doing so, they contributed to the introduction of marginalism, and in particular, Walrasian ideas into Spain. JEL Classification: B 13, B 31, D 50.

The central decades of the nineteenth

I The Reception of Marginalism century were characterised by the rule of the in Spain so-called ‘escuela economista’-economist In order to understand the low impact that school-whose members radically defended marginalism had in Spain, an analysis of the free trade and were highly influenced by gradual extinction of the classical political such French economists as Bastiat or Moli- economy and its gradual substitution by new nari. The group reached its pinnacle during approaches to economics is required. How- the 1860s and 1870s, when some members ever, this process of replacing the classical of the school served in government and in- political economy had certain peculiarities in fluenced economic policy. Theoretically, Spain, which will be briefly described below. however, the economist school was by no

The History of Economic Thought, Vol. 51, No. 1, 2009. Ⓒ The Japanese Society for the History of Eco- nomic Thought. 2 経済学史研究 51 巻 1 号 means original-they strongly believed that pleaded for competition that operates within Bastiat’s works contained the answers to a legal framework organised by the State. most economic problems（ Lluch and Alme- The State, however, also assumed social pol- nar 2000, 129-43）. icy. Both Catholics and Krausists, however, Things worsened and the last quarter of did not entirely reject marginalism; they the nineteenth century has unanimously been were simply not inclined to debate the latter appraised as a period of deep decadence of （Malo 1998, 378, 459-515）.1） As for the in- political economy in Spain（ Velarde 1974）. stitutional development of the political econ- On the other hand, the last members of the omy in Spain, neither group contributed to economist school like Carreras y González, the adoption of the neoclassical approach. Martín Rodríguez, Figuerola or Sanromá, The successive educational reformations, gradually passed away and the liberal eco- however, did result in placing the chairs for nomic agenda was unable to successfully political economic at the faculties of Law; contend with the problems that arose from thus, the majority of Spanish economists the economic crisis during the 1880s. Leav- held legal backgrounds, seemingly contribut- ing aside the remarkable response of revolu- ing to the disregard for marginalism. The tionary working-class movements, the re- prevalence of French economic literature- formist reaction was basically comprised of the main French journals at the time such as three approaches: the conservative approach Journal des économistes or L’économiste of some politicians who defended the inter- Français were profusely read in Spain-that ventionism of the State; the social-catholic did not pay particular attention to economic alternative to the classical political economy theory and the professional dispersion of and; the so-called Krausist economists. So- Spanish economists who devoted a consider- cial Catholicism was a heterogeneous move- able part of their time to politics, public de- ment that shared the acceptance of a moral bates and consulting, seems also to have framework inspired by the Church and the been an impediment to the introduction of moderate interventionism of the State in so- marginalism into Spain（ Almenar 2000, 82; cial issues in common. The movement pro- Laurent and Marco 1996）. moted the translation into Spanish of a wide The isolationism of the Spanish political range of works by Antoine, Hervé-Bazin, Le economy began to come to an end when An- Play, Pesch, Toniolo and many other Euro- tonio Flores de Lemus returned from Germa- pean social Catholics （Zabalza 2005）. By ny in 1903. Flores, together with Bernis and contrast, Krausist economists were some Zumalacárregui, carried out the first steps of kind of Spanish historicists that criticised the modernisation of Spanish economics in classical political economy on two princi- the first third of the twentieth century by ples: its lack of ethical foundation and the promoting the gradual introduction of Ger- narrow role attributed to State intervention- man neo-historicism and marginalism（ Ve- ism. They were inspired by Italian Civil Law larde 1990）. Whilst Flores and Bernis were experts or in some questions such as co-op- more connected to German neo-historicism erative movement by Fawcett, and they without ignoring the analytical advances of ASTIGARRAGA AND ZABALZA: WALRAS IN SPAIN（ 1874-1936） 3

British marginalists such as Marshall or cal school of economics and that he defend- Edgeworth, Zumalacárregui seems to have ed bimetallism（ Carreras y González 1881; been responsible for the introduction of mar- Madrazo 1874; Olózaga and Salvá 1892-93; ginalism and, in particular, the approach of Piernas 1903, 94-95）. the Lausanne School into Spain （Fuentes The most outstanding Krausist econo- 2001, 345-429）. However, the education on mists like Piernas Hurtado or Alvarez Buylla economics in the Spanish university seems seem to have been well prepared to grasp the to have ignored this reception, since margin- meaning of the marginal revolution, but they alism, as far as we know, was only taught in kept the debate grounded on a mere descrip- some specific academic spheres. A second tion of the principles of neoclassical eco- generation of economists advanced the ef- nomics, and in some cases such as Alvarez forts of this trio of pioneers. These econo- Buylla, they explicitly rejected the use of mists did not produce any theoretical contri- maths by Walras. In any case, they focused bution to economics with the exception of their attention on Austrian marginalists such Bernácer. However, some of them like Olar- as Menger or Böhm-Bawerk（ Malo 1998）. iaga or Fernández Baños seem to have com- Other minor Krausist economists like Jimén- pletely understood the meaning of neoclassi- ez, following the Italian Loria, considered cal economics （Almenar 2001）. However, the contributions to mathematical economics the most worthwhile contributions of the and in particular those by Walras as entirely Spanish to economic science were made in inaccurate （Perdices and Reeder 2003, the applied fields. In particular, during the 414-15）. The members of the liberal econo- 1930s and on the trail of Flores, both Romà mist school mentioned above seem to have Perpiñá and Torres took the notion of gener- perceived the significance of marginalism in al equilibrium as the analytical framework general and Walras’s contributions in partic- with which to address the Spanish backward- ular. Figuerola, for example, praised in 1880 ness as we will demonstrate below. the mathematical contributions of Walras as they confirmed, according to him, the princi- II Walras and General Equilibrium ples of free trade3）; and the economist and in Spanish Economic Literature winner of the Nobel Prize for Literature José （1874-1936） Echegaray declared in his memories to have The isolationist context described above did a profound knowledge of Walras’s work and not promote a propitious climate for the ex- to have planned a mathematical reinterpreta- pansion of Walrasian ideas in Spain. In fact, tion of the political economy, which actually the Spanish economists only marginally never was completed（ Cabrillo 2000, 486- mentioned Walras’s contributions to eco- 87; Pascual 2000, 540-41）.4） Summing up, nomics.2） The mentions, however, were the works of the Spanish economists of the mainly embedded within handbooks normal- last third of the nineteenth century reveal ly used to teach political economy at the fac- that they had heard of Walras’s contributions ulties of Law, and thus, they merely pointed to mathematical economics but not to what out that Walras belonged to the mathemati- extent they had understood them.5） 4 経済学史研究 51 巻 1 号

Flores’s return to Spain at the beginning wrote an intellectual biography of Pareto in of the twentieth century brought about a which he stressed and explained the close change in the pattern of reception of eco- connection between Walras and Pareto, re- nomic ideas in Spain. As mentioned, he be- garding the representation of general equilib- came fascinated by German neo-historicism rium through the system of simultaneous but did not neglect marginalism.6） Indeed, he equations （Zumalácarregui 1949, 40-49; was aware of Marshall and Walras’s contri- 1951）. He also declared that he evolved as butions during his time in Germany as we an econometrician in response to the Pareto will demonstrate below. However, Flores’s approach（ Zumalacárregui 1953-55）. main contribution to the spread of marginal- Based on these and other assertions made ism throughout Spain was, undoubtedly, the by Zumalacárregui during the 1940s and creation of a group of disciples such as Ro- 1950s, most historians have assumed that dríguez Mata, Viñuales, Reventós, Alvarez Zumalacárregui introduced the general equi- or Castañeda who gradually adopted margin- librium theory into Spain （Perdices and alism. Reeder 2003; Velarde 1990）. Unfortunately The historiography on the history of eco- we have no documentary evidence to con- nomic thought has considered Zumalacár- trast this hypothesis as he was not a prolific regui as the first Spanish economist who author. The teachings of Zumalacárregui, adopted marginalism as the canonical para- however, did not fall on deaf ears as he de- digm of economics at the beginning of the clared to have directed Castañeda and Torres, twentieth century. After his graduation in two of the most outstanding Spanish econo- Philosophy and Law at the University of mists, toward the mathematical approach Salamanca, he visited several European uni- to economics （Zumalacárregui 1946, XI- versities from 1900 to 1904. It seems that he XXXIX）. stayed at the University of Lausanne at one The 1920s and 1930s, however, seem to point at the beginning of the century and he have been a period in which the reception of might have kept intellectual contact with Walrasian ideas in Spain was more intense. Pareto. In fact, he claimed to be ‘. . . Pareto’s There are indications about the reception of disciple, whose doctrine I introduced into my the Lausanne School approach in the schools first syllabus［ in the Spanish university］. . . . of engineering. Rubio de Urquía examined a During a long time I was the only Spanish manuscript that contains the written notes mathematical economist in the Spanish uni- taken in 1928 by a student of political econ- versities’ （Zumalacárregui 1946, XXVII- omy at the School of Civil Engineering. Such XXVIII）. Upon his return to Spain, it seems lecture notes, according to Rubio de Urquía, that he was impressed by the contributions evinced the influence of the Lausanne of the Lausanne School and he decided to School（ Rubio de Urquía 2001, 774）. In fact, face the ‘rough’ task of reading Walras and there are other indications that demonstrate Pareto, which convinced him of the need to that the schools of engineering were a way improve his mathematical skills （Velarde of introducing mathematical economics. This 1990, 46）. Later, at the end of the 1940s, he was the case for the analysis of the Spanish ASTIGARRAGA AND ZABALZA: WALRAS IN SPAIN（ 1874-1936） 5

tax system by the engineer Corbellá and the nández Baños 1925; 1929）. The Italian inter- articles published in Revista de Obras Publi- mediation in the coming of Walrasian ideas cas-Journal of Public Works（ Ramos and into Spain was crucial as we will demon- Martínez 2008; Zabalza 2004）. Economics strate below with the case of Torres. In fact, also took on a new dimension in the faculties the most explicit and complete explanation of Law. Neoclassical orthodoxy and mathe- of the Walrasian model of general equilibri- matical methods gradually prevailed in the um in Spanish language must be found in so-called ‘Cursos especiales de estudios Barone and Serpieri’s treatises （Barone económicos, políticos y administrativos’ 1942; Serpieri 1940）. However, they were -Special courses on Economics, Politics translated into Spanish in the 1940s; there- and Administration-developed within the fore, not within the period for analysis of this Faculty of Law at the Central University article. Finally, it should be remarked that the （Madrid） during the 1930s （Velarde first Spanish version of Éléments by Segura 2001 b）.7） Walrasian ideas were also discov- was published in 1987, in the context of the ered through some translations of European introduction of neo-Walrasian models into handbooks like Historia de las doctrinas Spain（ Walras 1987）.9） económicas desde los fisiócratas hasta

nuestros días-The History of the Economic III Walrasian Ideas and Applied Economic Analysis in Spain at the Doctrines from the Physiocrats to the Present Beginning of the Twentieth Century Day-by Gide and Rist, which was translat- ed into Spanish in 1927 and Cassel’s As mentioned, this article holds that some of Economía Social Teórica （1933）-Theory the most outstanding Spanish economists of Social Economy.8） Nevertheless, it should used a certain notion of general equilibrium be stressed that the majority of the hand- theory as the analytical framework to study books used in Spain at the time, like the four the problems of development in the Spanish editions of Supino’s Principios de Economía economy and, therefore, applied analysis be- Política-Principles of Political Economy- came the method of penetration of Walrasian （1920, 1923, 1928, 1931） or other neo-his- ideas-and marginalism-into Spain during toricist treatises like Kleinwachter（ 1925） or the first third of the twentieth century. Since Weber（ 1935）, did not pay particular atten- this way of introduction of ideas has been ig- tion to Walras’s contributions and took a nored by historians, the article contributes to critical view of marginalism（ Zabalza 2001）. a better assessment of the impact of neo- Likewise, some Spanish economists, like classicism in Spain during this period. Fernández Baños, who had been very influ- enced by the Italians Amoroso and Barone, 1. Antonio Flores de Lemus and produced two reports that summarised neo- the Introduction of the Notion of classical economic theory and explained the ‘National Economic Equilibrium’ evolution of general equilibrium theory from Antonio Flores de Lemus was the first to in- the static Walrasian model through the mod- troduce the notion of ‘national equilibrium’ ern dynamic versions（ Almenar 2001; Fer- of productions, which in fact, given the re- 6 経済学史研究 51 巻 1 号

gional specialisation of the Spanish econo- It seems that Flores first heard about my, was simply the equilibrium of the Span- general equilibrium in Germany. According ish regional economies. Broadly speaking, to the available evidence, he had contact with the Spanish economy was integrated by three the Russian economist Bortkiewicz, who sectors. The unproductive production of ce- highly admired Walras and defended the real and cattle raising located in the heart of French-Swiss economist from the criticism the Iberian peninsula; mining, fisheries and of British economists, and in particular, from irrigation agriculture which were produc- Edgeworth’s negative opinion（ Bortkiewicz tions devoted to the exportation of goods and 1890）. Unfortunately, we know very little mostly situated in the peninsula periphery; about the intellectual relationship between and industry located in the Basque country Bortkiewicz and Flores apart from that he at- （North） and Catalonia （North East）. All tended Bortkiewicz’s lessons on maths and three, Flores, Perpiñá and Torres, assumed economics in Berlin, and that Bortkiewicz this structure as the premise of their respec- introduced Flores and Lexis. However, some tive economic analyses. of Flores’s mentions on this matter, and in particular a quotation taken from Flores’s In 1928, when Flores was as a technical writings in which he held that the model of advisor of the Finance Department, he ad- general equilibrium was due to Swiss and dressed the National Assembly of the Dicta- British economists, have been considered a torship and explicitly claimed the originality proof of Flores’s lack of understanding of of this idea10）: general equilibrium theory. However, as Ve- larde has suggested, the supposed incongru- There is not any work in the available ences of Flores is related to the criticism that ［Spanish］ economic literature that proper- Bortkiewicz made to Edgeworth on general ly tackles this problem［ the national eco- equilibrium （Velarde 1990, 80-81）.11） In nomic equilibrium］. I was indeed working fact, a detailed analysis of Bortkiewicz’s on this particular topic, when, unfortunate- book review on the second edition of Élé- ly, the Minister of Public Finance appoint- ments d’économie politique pure （1890） ed me as a government adviser and I left published in Revue d’économie politique, my scientific occupation. . . .（ Flores de shows how the debate between the Russian Lemus［ 1928］ 1969, 522） economist and Edgeworth did not focus on general versus partial equilibrium, but on the The notion of a ‘national economic equi- dynamism of the Walrasian model, which librium’ is by no means a peripheral piece of was considered crucial by Edgeworth in or- Flores’s analysis. On the contrary, upon this der to introduce a greater realism （Mar- idea he designed a model, which in fact was chionatti 2007）. Therefore, Bortkiewicz did never explicitly formulated, that underlaid not call into question the acceptation by Brit- his diagnosis of the causes of the Spanish ish economists of the general equilibrium economic backwardness and his proposals of approach, and Flores seems to be in agree- reformation. ment（ Bortkiewicz 1890, 85-86）. ASTIGARRAGA AND ZABALZA: WALRAS IN SPAIN（ 1874-1936） 7

Flores took the model of general equilib- ships between different economic sectors rium as a general analytical framework to based on the Walrasian general equilibrium. analyse the Spanish economy. Furthermore, His address to the National Assembly of the the notion of equilibrium was tinged through Dictatorship is clear on this: the introduction of qualitative characteristics of the Spanish economy, which demonstrates Perhaps, political economy is much in- the predominance of his neo-historicism debted to the so-called theory of general background. This approach is evident in the equilibrium due to English and Swiss manuscript ‘Bibliographical Notes on Olden- economists. They have stated that the eco- burg-Berufzühlingen: the Relationship be- nomic relationships that Classical econo- tween Agriculture and Industry in the Ger- mists had considered as causal relation- man Empire’ that belongs to Flores’s person- ships are now taken as functional relation- al archives and points out how ‘. . . the rela- ships, in which, the different terms are si- tionship of industry and agriculture depends multaneously cause and effect as it on the equilibrium between their qualitative happens in mathematical equations. and quantitative elements（’ Flores de Lemus （Flores de Lemus［ 1928］ 1969, 522） 1903）. The notion of a ‘national economic equi- The mention of the theory of general librium’ was first exposed by Flores in the equilibrium aimed at stating the unity and article ‘Spanien,’ which Ernst von Halle in- interdependence of the Spanish economy and cluded in Die Weltwirstchaft: Ein Jahr- und at reaching a political consensus on commer- Lesebuch（ 1906）. Years later, Flores began cial policy. In particular, Flores suggested to specify the pieces of such economic equi- the protection of the unproductive crop agri- librium. He pointed out that Spain was al- culture and livestock markets and the indus- most a closed economic system and econom- tries of the Catalonian and Basque regions. ic equilibrium should be established among By contrast, fisheries, mining and irrigation the national productions. Such equilibrium, agriculture productions should assume the however, should take into account that the burden of protection, and thus, their products ‘impulse of wealth’ emanates from the Span- will face higher custom duties abroad. Flores ish agriculture （Flores de Lemus ［1929］ justified his proposal pointing out that the 1976, 493-94）. climate and the existence of a subsoil rich in Flores brought attention to what he called mineral deposits, which means the existence the problem of the burden of protection of of a natural advantage, generated privileged the Spanish economy, which in fact was the incomes in productions such as mining- design of commercial policy in order to es- with the exception of coal mining-and irri- tablish the markets to be protected and the gation agriculture, which according to Flores productions that should assume higher cus- carried with them the responsibility of as- tom duties in foreign markets as a conse- suming the burden of protectionism. quence of Spanish protectionism. To resolve Suggesting that the most efficient pro- the problem, Flores stated structural relation- ductions of the Spanish economy should as- 8 経済学史研究 51 巻 1 号 sume the costs of protection does not fit well, the way to the most complete analysis by obviously, with the efficient allocation of re- Perpiñá and Torres in the 1930s. sources that stems from the theory of general equilibrium. Rather, it has to do with the neo- 2. Romà Perpiñá: Structural Analysis historicist approach that characterises and General Equilibrium Flores’s approximation of the problems in Romà Perpiñá was closely connected to the the Spanish economy. In particular, some el- agricultural sectors of the Valencia region, ements arose pertaining to his ideological which were specialised in irrigation agricul- background such as the idea of national eco- ture and whose products were destined for nomic cohesion that requires the sacrifice of exportation （Palafox 1993, XXXIX）. His some productions for the sake of the general main work, De economia hispana, which was welfare of the Spanish economy as a whole. first published in German in 1935 at the Uni- The following paragraph represents this idea: versity of Kiel where he resided for during a couple of years in the early 1930s, contains a . . .［ G］iven the Spanish productive struc- complete model of the Spanish economy in ture, the farmers that produce for exporta- which he used a basic notion of general equi- tion pay the cost of protecting Spanish librium to demonstrate the connections be- markets through the reduction of their in- tween the different Spanish economic pro- come with respect to a situation in which ductions（ XV）. protectionism does not exist. However, the Perpiñá, as well as Flores, roughly identi- income-and thus the national welfare- fied three main productive sectors. The first jointly produced is higher under protec- one was located in the centre of the Spanish tionism. Moreover, the Spanish industry peninsula and basically produced cereal and would not survive without the protection legumes. According to Perpiñá, these pro- of the government. （Flores de Lemus ductions survived due to high custom duties ［1928］ 1969, 520） that protected national markets from interna- tional concurrence and the intervention of Summing up, Flores rhetorically invoked the State that guaranteed a minimum price the Walrasian theory of general equilibrium （Perpiñá ［1936］ 1982, 379）. Industry, on when he addressed an audience that was not the other hand, was mainly located in the re- very interested in economics. Obviously, gions of Catalonia and the Basque Country Flores did not design a mathematical model （East and North Spain, respectively） and to state the precise relationships among the had a growing cost structure that emanated different producers and consumers, and from the high price of bread caused by grain therefore it is not worthwhile to asses his protection; the high railway tariffs due to contribution in terms of theoretical models. coal protection; the small size of the Spanish However, as he himself pointed out, he intro- markets that prevents the industry from duced the crucial idea of interdependency of growing returns; and finally, the assumption economic agents through quantities and pric- of the risks of bad crops through the mecha- es. What is really meaningful is that he paved nism of channelling credit from industrial to ASTIGARRAGA AND ZABALZA: WALRAS IN SPAIN（ 1874-1936） 9 agricultural areas. Therefore, these linkages depends on the intensity of the original between industry and agriculture compelled disequilibrium, the grade of transmission the former to demand their own protection to the rest of the ‘economic organism’ and but also the protection of the latter. As a re- the difficulties of the economic system to sult, agriculture in the heart of the peninsu- reach a new equilibrium（. Perpiñá 1931） la-whose production is subject to the law of diminishing returns-was not able to ab- Furthermore, Perpiñá points out the ex- sorb the production of the industry in which istence of a long-run mechanism that led to- the law of growing returns prevails. Finally, wards the equilibrium of productive sectors. Perpiñá attributed to the agricultural sector The question is whether the new equilibrium devoted to the production of exportation of the Spanish economy led to the reduction goods located in some parts of the Spanish or augmentation of production and social periphery and in particular in Valencia a cru- welfare. According to him: cial role: ［The problems］ to reach the equilibrium The production of the agricultural sector of the Spanish economy（ which tends to of the Spanish periphery grows at the same re-establish the balance at a lower point of pace than industry, and thus, it is able of production） are the commercial barriers absorbing the surplus of industrial produc- imposed by the great industrial countries tion that the grain agriculture sector of the to the main Spanish products. Some of heart of the peninsula is not. The former, these limitations seem to be reasonable therefore, shapes the booms and depres- given the reduction of purchasing power sions of industry inasmuch as it takes the （crisis） of the industrial countries and the surplus of industrial production up.（ Per- growing concurrence of countries that piñá［ 1936］ 1982, 390） have better conditions of costs, but others are the result of economic policies like It is at this point that Perpiñá introduced protectionism or the systems of colonial the idea of equilibrium of the national pro- preferences of the European powers（. Per- ductions. In previous contributions, Perpiñá piñá［ 1936］ 1982, 379） had pointed out the following: Leaving aside the interesting suggestions . . .［ E］conomic welfare as a goal of eco- made by Perpiñá, he pointed out the structur- nomics is the consequence of economic al nature of the crisis that demanded the shift equilibrium: equilibrium in production, of Spanish commercial policy. In fact, he equilibrium in trade, equilibrium between strongly proposed a change in the structure production and consumption. The disequi- of the Spanish economy through the promo- librium in any part of the economic proc- tion of the specialised production of exporta- ess pass on to the other parts, and welfare tion agricultural goods and industry, which ebbs and flows, and the occasional or long were the most efficient Spanish productive crisis pops up. . . . The lifespan of the crisis sectors. Therefore, he proposed replacing the 10 経済学史研究 51 巻 1 号

autarchic commercial policy with a new stituted by the town-country dialectic model based on free competition and the re- （Torres 1933 b）. In this context, the conflict moval of barriers to commerce （Perpiñá endures but moves to the sphere of the rela- ［1936］ 1982, 407）. tionships between industrial and agricultural Summing up, Perpiñá’s model was pri- productions. However, what is remarkable marily based on the notion of the ‘national from our point of view is that Torres focused equilibrium’ of Spanish productions, which on the analysis of the mechanism of prices as as seen, was remotely inspired by Walrasian the conflict arose: ideas. As well as Flores, he used a generic and simple notion of general equilibrium in . . .［ A］grarian working class also wished which economic agents make decisions us- high wages; however, high wages demand ing prices as data, and thus, the market oper- high prices of agricultural products. There- ates within the context of the particular fore, high prices of agrarian products con- structure of the Spanish economy and its cern equally to agrarian working class, policy restrictions. Nevertheless, Perpiñá’s farmers and agrarian owners. （Torres commercial policy responds much more to 1933 b） the allocation of resources derived from the free operation of market forces, and accord- Nevertheless, Torres held that the high ing to him, the historicist solution provided prices of agricultural products were not a by Flores to avoid dire economic and social real burden to industry. On the contrary, consequences to the cereal sectors will con- higher prices in agriculture increased the tribute to hasten the decadence of the Span- purchasing power of agriculture that eventu- ish economy （Perpiñá ［1932］ 1982, 115- ally brought about the increase of the de- 40, 131 and 134）. mand of industrial products（ Torres 1933 b）. Consequently, Torres stressed the intercon- 3. Manuel de Torres and the Italian nections among the industrial and agrarian Approach to General Equilibrium productions through the reciprocal demand Manuel de Torres, in contradistinction to and supply of products that also induced spill- Flores and Perpiñá, did not have a German over effects on the labour markets. background. His intellectual roots were Having assumed this normative back- founded in the rich Italian tradition of politi- ground, Torres merged it into the model of cal economy and probably influenced by Zu- equilibrium for Spanish agriculture, and in malacárregui, for whom he was research as- general, for Spanish productions that lay be- sistant at the University of Valencia. hind his writings during the 1930s. It seems Again, in contrast to Perpiñá and Flores, that the generic notion of equilibrium of na- Torres believed that agrarian activity was tional productions, coined by Flores, had a tied to a set of values that he believed were certain influence on economists such as specific to agriculture; thus, different from Torres or Perpiñá. However, to a greater de- urban life or industry.12） Therefore, the Marx- gree than Flores and Perpiñá, Torres empha- ist capitalists-proletariats dialectic was sub- sised the crucial role played by prices in the ASTIGARRAGA AND ZABALZA: WALRAS IN SPAIN（ 1874-1936） 11

economic equilibrium of Spanish produc- of Spanish agriculture depends on this ap- tions, and he explained how they specifically propriate level of prices, which at the same operated within Spanish agriculture. On the time, shapes the rise of industry since one hand, Torres was probably inspired by Torres-following Flores’s statement on the method used by Serpieri, connecting the this-believed that ‘. . .［ in Spain］ purchas- fluctuation of prices to the substitution of ing power comes from agriculture’（ Flores cultivations（ Serpieri 1925, 203-04）. Farm- de Lemus ［1929］ 1976, 493-94）; Torres ers, according to Torres, will intensify pro- 1935）. duction to such an extent that their marginal Torres used the model of interdependen- cost equals marginal revenue in order to cy of Spanish productions through prices to maximise profits, and thus, the fluctuations analyse the manner in which international of prices have a consequential effect on the deflation in the 1930s spread throughout extension of the different cultivations, and in Spain, and how domestic key elements and turn on the supply of agricultural goods institutional particularities contributed to （Torres 1933 c, 247）. Furthermore, he made worsening the economic crisis. Government, the model more dynamic when he connected according to Torres, may contribute to suc- the fluctuations of prices in previous periods cessfully traversing an economic crisis by to the adjustment of current production implementing economic measures that at- （Torres 1935, 242）. Torres extended this tempt to recover high levels of purchasing mechanism of interconnections of markets to power in agriculture; specifically, the control the entirety of agrarian products whether of prices and rate of exchange policies to re- they were raw materials, in-between products instate the equilibrium of agrarian produc- or final products: this was the case for grain, tions. Finally, the recovery of equilibrium flour and bread. Despite this, it was not and not social policy is what would guaran- clearly formulated by him; a more detailed tee social stability in the countryside and in- analysis of his writings demonstrates that dustrial areas. Torres also interconnected goods with fac- As mentioned, the influence of Walras tors markets. on Torres’s model took place through the in- Once Torres’s model was endowed with termediation of Italian economists who pre- a mechanism of adjustment, he analysed the viously had interpreted and, in some cases, equilibrium of Spanish agricultural produc- had applied the Walrasian model to analyse tions and assumed that the system had a so- Italian agriculture. First, it should be re- lution for the equilibrium price. However, in marked that Torres, probably inspired by its application, he moved away from the Luigi Einaudi-the renowned Italian expert Walrasian model and adopted what he called on Public Finance-perceived the general the ‘appropriate’ level of prices-the level of equilibrium theory as an excessively abstract prices for productions that guarantee, accord- theoretical construction. In fact, the group of ing to him, the maximum level of remunera- economists at the Laboratorio de Economía tion for agrarian products and equilibrium Política-Jannacone, Prato and Sella-in among them.13） Consequently, the prosperity Torino, led by Einaudi himself, assumed the 12 経済学史研究 51 巻 1 号 validity of theoretical models, but in practice, ed the prevalence of prices in the interde- they adopted a positivist approach to analyse pendency relationships of the economic vari- economic issues. Economic reality, for them, ables. Moreover, they also admitted the abili- was best suited to the idea of organic devel- ty of price control policies to achieve eco- opment than to a system of equations that nomic equilibrium in periods of emergency overemphasises the mechanical accounting such as the economic instability of the 1920s, for this reality. Nevertheless, Einaudi in par- in which the mechanism of the market was ticular, deemed the general equilibrium theo- not able to equal supply and demand. How- ry as a required benchmark for economic ever, Torres’s approach disagreed with Ein- analysis（ Gallegati 1984, 377-88）. On this audi’s on one crucial point. Whereas Einaudi point, we have documentary evidence that held that price control policies led the eco- Torres had profusely handled Il contributo nomic system to an equilibrium analogous to alla ricerca dell’ ottima imposta （1929）, the equilibrium that would have been which symbolised, according to Gallegati, reached by the operation of the market the use of general equilibrium theory as the mechanism, Torres, by contrast, believed that theoretical framework by Einaudi（ Beneyto the price of perfect competition was not de- and Torres 1933, 378; Gallegati 1984）. sirable, at least in with respect to the Spanish economy, and thus, it should not coincide Einaudi also seems to have influenced with the above mentioned appropriate level Torres on the crucial role played by prices in of prices reached through price control poli- the determination of equilibrium （Einaudi cies. Needless to say, the appropriate level of 1933）. If Einaudi held that the economy prices is not the result of the mechanism of hinged upon what he called ‘re prezzo（’ ‘king the market, but rather the intervention of the price’）, Torres declared that: State, which according to Torres must fix prices to a level whereby the economic goals . . .［ T］he hypothesis that I hold does not of the nation may be fulfilled. fit into the foundations of a liberal eco- On this particular point, Torres’s specific nomic system but on the foundations of adaptation of the general equilibrium theory any exchange economy system in which to the Spanish economy demonstrates the prevails a minimum level of economic strong influence of some of the Italian cor- freedom, which includes consumption and poratist economists, which had defined the labour choice freedom. The economic sys- national economic equilibrium as a position tems which assume such a basic principle that they considered much more convenient share the feature that the whole system of from the point of view of its social utility- equilibrium is shaped by prices, whichever or more exactly, from the perspective of were their further differences. （Torres what they referred to as national economic 1935） goals-than the equilibrium of free competi- tion（ Perillo 1982）. Therefore, the national Therefore, both authors continued the economic equilibrium or the equilibrium of Walras-Pareto tradition when they consider- national productions defined by Torres for ASTIGARRAGA AND ZABALZA: WALRAS IN SPAIN（ 1874-1936） 13 the Spanish economy is basically what Ital- um（ Bellanca 1994）.16） Finally, it should be ian corporatist economists called ‘corporatist said that Torres never pretended to tackle equilibrium,’ which enclosed normative and economic theory. It seems, nevertheless, that extra-economic components （Torres 1935, he accepted the existence of equilibrium. 242）.14） Torres, however, did not drift away However, questions such as uniqueness, the from the core elements of neo-classical epis- ‘tâtonnement’ system or the stability of equi- temology such as the homo oeconomicus that librium, which demands a profound explana- assumes the principle of self-interest, which tion given the introduction of the concept of in the most radical versions of corporatism national equilibrium, are not discussed in was replaced by what they referred to as Torres’s writings.17） ‘homo corporativus,’ which assumed national IV Summary and Final Comments economic goals（ Guidi 2000）. By contrast, Torres believed that the interventionism of The diffusion of Walras and Walrasian ideas the State through price control policies was in Spain is connected to the fate of marginal- enough to move self-interest towards general ism. During the last third of the nineteenth interest-the latter being represented by the century, there were no institutional, academic economic equilibrium that satisfies the na- and scientific conditions for the reception of tional economic goals above described. marginalism and only those economists with Moreover, it is important to note the influ- technical backgrounds such as Martín Ro- ence wielded by Serpieri upon Torres, who dríguez or Echegaray manifested an interest had taken Barone’s theory of equilibrium as towards mathematical economics. Unfortu- a model, and, had applied it to the agrarian nately, was not but mere interest that re- markets, making room for the intervention- vealed that some Spanish economists had in- ism of the State without shedding doubt on formation about Walrasian general the free operation of the market and the role equilibrium. However, what it is actually of private initiative.15） As Schumpeter noted, paradoxical is the Walras’s social reformism such contributions led to his theoretically ad- was neglected by Spanish economists. De- mitting that the interventionism of the State spite the fact other economists as Schäffle or may improve the competitive mechanism of Wagner, who were considered to be as too the market（ Schumpeter 1985, 1075-77）. radicalised were, however, well-known in Some other features of Torres’s model Spain and their ideas widely discussed in the confirm the Italian sources of approaching writings of Spanish economists.18） the problem of economic equilibrium; for The turn-of-the-century created a better example, the theory of ‘prezzi connessi’ intellectual climate for the intellectual and -connected prices-which was developed institutional reception of foreign economic by some Italian economists like Pantaleoni doctrines due mainly to the instruction of a or Fanno who grouped goods into the family group of disciples by Flores. The Walrasian of substitute goods in such a way that as- general equilibrium theory, however, had its sumed an alternative midway between Wal- maximum real impact on applied economics rasian and Marshallian versions of equilibri- since three of the main economists of the 14 経済学史研究 51 巻 1 号 first third of the twentieth century took a ge- more accurate use of the Walrasian model neric notion of national equilibrium as the did not discuss the crucial aspects of general framework in which to analyse some prob- equilibrium. lems of the Spanish economy and suggest Jesús Astigarraga: University of Zaragoza, Spain some final comments. Regardless of what the Juan Zabalza: University of Alicante, Spain level of understanding of the Walrasian ap- proach might have been, there is little doubt that Spanish economists did not ignore the Notes general equilibrium theory. In addition, the 1） On the nature and possible connections of international diffusion of economic ideas did Krausist economist to other European histor- not clear a direct pathway between the origi- icist economist, see Velarde （2001） and nal ideas or authors and the eventual recep- Malo（ 1998）. tor. In fact, throughout this article, what we 2） By contrast, Leon’s father’s work, Teoría refer to as Walrasian ideas embraces the de la riqueza social, ó resúmen de los prin- concepts that emanate originally from Wal- cipios fundamentales de la Economía politi- ca, had been immediately translated into ras but were taken from different intermedi- Spanish in 1850（ and re-issued in 1857）. ate sources. The Spanish case in particular 3） The mentions by Figuerola to Walras are demonstrates how Walrasian ideas infiltrated always contextualised within the debate free Spain through other economic traditions. Fi- trade vs. protectionism. In particular, he in- nally, Flores and Perpiñá symbolised how terpreted Walras as the economist who dem- abstract theory was used in Spain to analyse onstrated through geometry and algebra the the country’s specific economic problems. law of exchange, and thus, the positive con- They likely read the original works of and in sequences of the policy of free trade（ Cabril- particular Walras’s Élements. However, as lo 1991, XXXVI）. 4） Martín Rodríguez, who was another out- demonstrated, we do not have enough infor- standing member of the economist school, mation to state the extent by which they included Walras in the group of modern deepened the knowledge of Walrasian gen- economists that continued in the direction eral equilibrium theory as they only used it spearheaded by Physiocrats and Smith. Some to point out the interdependency of the Span- historians have pointed out that Rodríguez’s ish productive sectors through the mecha- mathematical background enabled him to nism of prices, leaving aside the discussions understand and receive marginalism in gen- on other aspects of the Walrasian model. On eral and Walras’s contributions in particular. the other hand, they strongly believed in the Furthermore, it has been defended that he existence of certain structural and institu- held a definition of economic science com- parable to Robbins’s definition of economics tional conditions that were different in Spain （Iparraguirre 1975）. In any case, we have to those of other European countries, which not found evidence on the extent of his un- implied that the theoretical background was derstanding of Walras’s general equilibrium merely a remote frame of reference to ap- theory. plied analysis. Even Torres who, according 5） Jevons, Marshall and Fisher’s works, how- to his writings, demonstrated a wider and ever, were profusely translated into Spanish. ASTIGARRAGA AND ZABALZA: WALRAS IN SPAIN（ 1874-1936） 15

6） In 1920 he wrote a syllabus on political self did not understand the problems of economy in which he included what he con- uniqueness of the system of simultaneous sidered to be the most crucial literature on equations in the 1920s（ Martín Rodríguez economics at the time. Walras’s works were 2001, 435-36） embedded within. 12） Torres branded agriculture as a ‘way of 7） V. A. Álvarez said to have worked up an life’ following the Italian agrarian economist interest on economics after reading Pareto’s Arrigo Serpieri（ 1925; 1929）. On the pare- Manuel in a library in Paris in 1917 tian origin of the ‘way of life’ term, see Bellia （Sánchez 1991, 45）. （1993, 69-81）. 8） It is known that Cassel’s contribution was 13） For a detailed description of Torres’s a simplified version of Walras’s model as he model, see Zabalza（ 1995, 63-101）. did not incorporate the equations of consum- 14） See Faucci（ 1990） and Bellanca（ 1994） er equilibrium. La teoría monetaria y el ciclo on the different approaches to economic económico-Monetary Theory and the Trade equilibrium by Italian economists. Cycle-by F. Hayek was translated into 15） On this particular point, the parallelism Spanish by L. Olariaga in 1936. with authors such as Alberto Breglia should 9） The famous English version by Jaffé was be remarked, as he defended the intervention not published until 1954. The Japanese ver- of prices to favour certain groups and char- sion, on the other hand, was published in acterised the corporatist market as an institu- 1933 by J. Teduka（ Misaki 2006, 169）. See tion in which absolute freedom prevails on a catalogue of Walras’s literature in French the demand side and prices are controlled on and other foreign languages in Walker the supply side（ Faucci 1990, 15; Breglia （2006）. 1934, 392-93）. 10） In 1923 Primo de Rivera successfully or- 16） Conditions such as the Marshallian con- ganised a coup d’etat that inaugurated the stancy of marginal utility of money are now authoritarian period of the Dictatorship that applied to the equilibrium of the family of extended until 1930. The liberal parliament ‘substitute goods.’ See Bellanca（ 1994） on was replaced by the National Assembly, this and other features of the model of ‘prezzi wherein political parties were substituted by connesi’-connected prices. representatives of the different economic and 17） On the different forms and interpretations administrative interests. of the ‘tâtonnement’ process contained in 11） Franco, who was Flores’s disciple, pre- Walras’s Eléments, see Bridel and Huck pared a report on the state of the art of eco- （2002） and Walker（ 2006, 259-87）. nomic theory in Spain, which was included 18） We have not found any mention in the in the collection published by Hans Mayer in Spanish economic literature of Études 1927 in Germany（ Die Wirtschftstheorie der d’économie sociale or Études d’économie Gegenwart, Viena Julius Springer 1927）. In politique appliqué that is basically the nor- this report, Franco stated that Flores believed mative part of Walras’s work in which he that the Walrasian general theory was not tackled the social question. On this norma- able to clarify the problems with the solution tive part of Walras’s work, see Van Daal of equilibrium since the system of equations （2006, 51-67）. remained indeterminate. However, as Martín Rodríguez has pointed out, Franco’s remarks References are imprecise, probably because Franco him- Almenar, S. 2000. El desarrollo del pensamiento 16 経済学史研究 51 巻 1 号

clásico en España. In Economía y econo- science économique. Concept, définition. mistas españoles. Tomo 4. La economía Madrid y Paris: L. de F. Fe and Guillaumin. clásica, edited by E. Fuentes. Barcelona: Einaudi, L. 1933, Trincee economiche e corpor- Galaxia Gutenberg-Círculo de Lectores: ativismo. La Riforma Social nov.-dec.: 7-92. 633-736. -. 2001. Olegario Fernández Baños: de la Faucci, R. 1990. Il pensiero economico italiano geometría a la econometría. In Economía y fra le due guerre. Un’epoca di transizione? economistas españoles. Tomo 6. La mod- Le coordinate teorico-istituzionali del peri- ernización de los estudios de economía, odo. Quaderni di Storia dell’economia Po- edited by E. Fuentes. Barcelona: Galaxia litica VIII（ 2-3）: 3-22. Gutenberg-Círculo de Lectores: 585-674. Fernández Baños, O. 1925. Nociones fundamen- Barone, E. 1942. Principios de Economía Políti- tales de Economía Matemática y algunas ca. Madrid: Revista de Derecho Privado. de sus aplicaciones. Zaragoza: Tip. ‘La Bellanca, N. 1994. La teoría italiana dei prezzi Académica.’ connessi: Ferrara, Pantaleoni, Fanno. -. 1929. Recientes progresos de la ciencia Rassegna Economica 5（8 3-4）: 673-704. económica. Madrid: Industrial Gráfica. Bellia, F. 1993. La nozione serpieriana di agri- Flores de Lemus, A. 1903. Notas bibliográficas cultura. In Arrigo Serpieri e la sua costruz- sobre Oldenburg-Berufzühlingen: La rel- ione teorica fra economía politíca, edited ación entre la agricultura y la industria en by A. Martinelli and P. Nanni. Firenze: Of- el Imperio alemán. Flores de Lemus’s Per- ficine Grafiche Stianti: 69-81. sonal Archive Sign 1-1010. Beneyto, J. and M. de Torres. 1933. Historia -［. 1929］ 1976. Cambio y precios. La expe- derecho comparado, técnica y legislación riencia española. Hacienda Pública Es- española vigente. Barcelona: Clarasó. pañola 42-43:490-500. Bortkiewicz, L. von 1890. Leon Walras, Éle- -［. 1928］ 1969. Sobre el problema económi- ments d’économie politique pure, Deux- co de España. Un debate en la Asamblea ième edition. Revue d’économie politique 4 Nacional de la Dictadura. In Lecturas de （1）: 80-86. economía española, edited by J. Velarde. Breglia, A. 1934. Prezzi in mercato corporativo. Madrid: Gredos: 517-23. La Riforma Sociale luglio: 381-401. Fuentes, E. 2001. Francisco Bernis: el tercer in- Bridel, P. and E. Huck. 2002. Yet Another Look térprete de la modernización de los estudi- at Leon Walras’s Theory of ‘tâtonnement.’ os económicos en España. In Economía y European Journal of the History of Eco- economistas españoles. Tomo 6. La mod- nomic Thought 9（ 4）: 513-40. ernización de los estudios de economía, Cabrillo, F. 1991. El pensamiento económico de edited by E. Fuentes. Barcelona: Galaxia Laureano de Figuerola. In Figuerola, L., Gutenberg-Círculo de Lectores: 345-429. Escritos económicos. Madrid: Instituto de Gallegati, M. 1984, Analisi parciale e teoria Estudios Fiscales. pura: l’economia politica marshalliana in -. 2000. Laureano Figuerola o el reformismo Italia（ 1855-1925）. Annali della Fondazi- economista. In Economía y economistas one Luigi Einaudi XVIII: 377-88. españoles. Tomo 4. La economía clásica, Guidi, M. 2000. Corporative Economics and the edited by E. Fuentes. Barcelona: Galaxia Italian Tradition of Economic Thought: A Gutenberg-Círculo de Lectores: 483-97. Survey. Storia del Pensiero Economico 40 Carreras y González, M. 1881. Philosophie de la （I）: 31-58. ASTIGARRAGA AND ZABALZA: WALRAS IN SPAIN（ 1874-1936） 17

Iparraguirre, D. 1975. Historiografía del pen- economía hispana y otros ensayos. Madrid: samiento económico español. Anales de FIES: VII-LVII. Economia 3a época（ 25-26）: 5-38. Pascual, J. 2000. Algunas notas sobre la figura Kleinwachter, F. Von. 1925. Economía Política. de José Echegaray como economista. In Barcelona: Imp. Luis Cortina. Economía y economistas españoles. Tomo Laurent, E. and L. Marco. 1996. Le Journal des 4. La Economía Clásica, edited by E. économistes ou l’apologie du libéralisme Fuentes. Barcelona: Galaxia Gutenberg- （1841-1940）. In Les revues d’économie Círculo de Lectores: 535-41. politique en France（ 1751-1994）, edited Perdices, L. and J. Reeder. 2003. Diccionario de by L. Marco. Paris: L’Harmattan: 79-120. Pensamiento economico en España（ 1500- Lluch, E. and S. Almenar. 2000. Difusión e in- 2000）. Madrid: Fundacion ICO-Síntesis. fluencia de los economistas clásicos en Es- Perillo, F. D. 1982. Introduzione. In La teoria paña（ 1776-1870）. In Economía y econo- economica del corporativismo, edited by F. mistas españoles. Tomo 4. La Economía D. Perillo and E. Zagari. Napoli: ESI: Clásica, edited by E. Fuentes. Barcelona: 325-60. Galaxia Gutenberg-Círculo de Lectores: Perpiñá, R. 1931. Equilibrio. Diario de Valencia 93-170. 23 de octubre: 1-2. Madrazo, S. D. 1874. Lecciones de Economía -.［ 1932］ 1982. El interés colectivo política. Madrid: Calleja. económico en Cataluña y Valencia. In Per- Malo, J. L. 1998. Pensamiento económico y piñá, R. De Economía Crítica （1930- filosofía social en la España del siglo XIX. 1936）. Valencia: Institució Alfons el Mag- Liberalismo, krausismo y reformas social- nánim: 115-40. es. Unpublished Ph. D. Dissertation: Uni- -.［ 1936］ 1982. De Economía Hispana. versity of Zaragoza. Contribución al Estudio de la Constitución Marchionatti, R. 2007. On the Application of Económica de España y de su Política Mathematics to Political Economy. The Económica, especialmente la comercial ex- Edgeworth-Walras-Bortkievicz controver- terior. In Perpiñá, R., De Economía Crítica sy, 1889-1891. Cambridge Journal of Eco- （1930-1936）. Valencia: Institució Alfons nomics 2:291-308. el Magnánim: 9-57. Martín Rodríguez, M. 2001. Flores de Lemus y Piernas, J. M. 1903. Principios elementales de la la nueva economía política española del si- ciencia económica. Madrid: L.V. Suárez. glo XX. In Economía y economistas es- Ramos, J. L. and T. Martínez. 2008. Las ideas pañoles. Tomo 6. La modernización de los económicas de los ingenieros de caminos: estudios de economía, edited by E. Fuentes. la Revista de Obras Públicas（ 1853-1936）. Barcelona: Galaxia Gutenberg-Círculo de Investigaciones de Historia Económica 11: Lectores: 155-63. 9-38. Misaki, K. 2006. Perspectives sur l’histoire de la Rubio de Urquía, R. 2001. Un texto para la his- pensée économique française: de la Physio- toria de la difusión de la Escuela de Lausa- cratie a la libre concurrence organisée de na en España: los ‘Apuntes de economía Walras. Hikone Ronso 35（6 1）: 161-79. política’ de Carlos Orduña Zarauz, de 1928. Olózaga, J. M. and M. Salvá. 1892-93. Tratado In Economía y Economistas españoles. de Economía Política. Madrid: Imprenta de Tomo 6. La modernización de los estudios José Perales y Martínez. de economía, edited by E. Fuentes. Barce- Palafox, J. 1993. Introducción. In Perpiñá, R., De lona: Galaxia Gutenberg-Círculo de Lec- 18 経済学史研究 51 巻 1 号

tores: 771-81. edited by E. Fuentes. Barcelona: Galaxia Sánchez, A. 1991. Valentín Andrés Álvarez. Un Gutenberg-Círculo de Lectores: 853-89. economista del 27. Zaragoza: PUZ. Walker, D. A. 2006. Walrasian Economics. Schumpeter, J. A. 1985. Historia del Análisis Cambridge: Cambridge Univ. Press. Económico. Barcelona: Ariel. Walras, L. 1987. Elementos de economía políti- Serpieri, A. 1925. La politica agraria in Italia e ca pura o Teoría de la riqueza social. Ma- i recenti provedimenti legislativi. Piacenza: drid: Alianza Editorial. Federazione Consorzi Agrari. Weber, A. 1935. Introducción al estudio de la -. 1940. Principios de economia política Economía Política. Barcelona: Bosch. corporativa. Madrid: Revista de Derecho Zabalza, J. 1995. El pensamiento económico- Privado. agrario valenciano en el siglo XX. Manuel Torres, M. de 1933 a. El coste de producción en de Torres 1930-1936. Alicante: Instituto agricultura y la renta de la tierra. Agricul- de Cultura Juan Gil-Albert. tura abril: 245-48. -. 2001. The Spread of Italian Economic -. 1933 b. Sobre el tópico del proletario y el Thought in Spain 1850-1945: From His- burgués. Diario de Valencia. 14 de diciem- toricism to Corporatism. In From Econo- bre: 1-2. mists to Economists: The International -. 1933 c. Por una política española genuina- Spread of Italian Economic Thought, mente valenciana. Diario de Valencia. 19 1750-1950, edited by P. F. Asso. Firenze: de diciembre: 1-2. Polistampa: 255-82. -. 1935. Por una política económico agraria. -. 2004. La contribución de Manuel de Agricultura marzo, VII, 74:71-723. Torres al desarrollo de la disciplina de la Van Daal, J. 2006. León Walras’s Economics: economia agraria en España（ 1930-1960）. From Pure to Normative? In From Walras Revista de Historia Agraria 32:113-39. to Pareto, edited by J. G. Backhouse and -. 2005. Catholicism and Political Economy J. A. Hans Maks. New York: Springer: in Spain（ 1880-1950）. The contribution of 51-67. Italians. Il Pensiero Economico Italiano Velarde, J. 1974. Introducción a la historia del XIII（ 2）: 79-104. pensamiento Económico español en el sig- Zumalacárregui, J. M. 1903. Ensayo sobre el lo XX. Madrid: Editora Nacional. origen y desarrollo de la propiedad comu- -. 1990. Economistas españoles contem- nal en España hasta el final de la Edad poráneos. Primeros maestros. Madrid: Es- Media. Madrid: Hijos de J. A. García. pasa Calpe. -. 1946. Prefacio to Allen, R. G. D. Análisis -. 2001 a. La oleada historicista y el pen- matemático para economistas. Madrid: M. samiento económico español. In Economía Aguilar: I-XLVIII. y economistas españoles, Tomo 5. Las crit- -. 1949. Vilfredo Pareto. Anales de icas a la economía clásica, edited by E. Economía oct-dic, IX（ 36）: 357-459. Fuentes. Barcelona: Galaxia Gutenberg- -. 1951. Vilfredo Pareto（ 1848-1923）. Ma- Círculo de Lectores: 321-88. drid: CSIC. -. 2001 b. Los estudios superiores de -. 1953-55. Del equilibrio económico a la economía de 1857 a 1936. In Economía y econometría. Anales de Economía XIII- economistas españoles. Tomo 6. La mod- XIV（ 49-60）: 3-38. ernización de los estudios de economía,