Date of Birth: 
Place of Birth: Montpellier, Occitania, France
About Auguste Walras
- Auguste Walras (French: [val?as]; 1801–1866) was a French school administrator and (amateur) economist.
- He was the father of Léon Walras, who was deeply influenced by his father's view on economics.
- Auguste Walras convinced his son to give up his original literary aspirations to pursue economic studies.
- It was his idea to take rareté (scarcity) and utility as the source of value.
- He also encouraged him to use mathematical tools, probably under the inspiration of his former classmate Augustin Cournot.
- Auguste Walras found the value of goods by setting their scarcity relative to human wants.
- His own efforts in working out his theories did not extend beyond a sketch which Leon Walras was to draw upon.
- Auguste Walras' policy stance on nationalisation of land was also adopted by the young Walras.
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