KakarotHandtke, Egmont (2013): Walras’s law of markets as special case of the general Triangle Theorem: a laconic proof.

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Abstract
From the set of the first three structural axioms follows the  economic  triangle theorem. It asserts that the product of the three key ratios, which characterize the firm, the market outcome, and the income distribution, is always equal to unity. The theorem contains only unitfree variables, is testable in principle, and involves no behavioral assumptions. The differentiated triangle theorem applies to an arbitrary number of firms. Therefrom Walras’s Law can be derived without recourse to demand and supply functions or the notion of equilibrium.
Item Type:  MPRA Paper 

Original Title:  Walras’s law of markets as special case of the general Triangle Theorem: a laconic proof 
Language:  English 
Keywords:  new framework of concepts; structurecentric; axiom set; market clearing; commodity market; labor market; full employment; wage rate flexibility 
Subjects:  C  Mathematical and Quantitative Methods > C0  General > C00  General D  Microeconomics > D4  Market Structure, Pricing, and Design > D40  General D  Microeconomics > D5  General Equilibrium and Disequilibrium > D50  General 
Item ID:  44547 
Depositing User:  Egmont KakarotHandtke 
Date Deposited:  22. Feb 2013 19:10 
Last Modified:  02. Mar 2013 03:06 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/44547 