Marshallian and Walrasian Theory, Complementary or Alternative Approaches ? The Views in Presence

The aim of this paper is to examine economists? views about the relationship between Marshallian and Walrasian theory. Are they complementary, as is usually believed, or do they constitute alternative research programmes? My paper compares two viewpoints on this matter, the conciliatory and the antagonistic views. After describing these, I present my own standpoint: I do believe that there is a Marshall Walras divide but I have serious objections to the way in which the argument for this divide is usually made. In particular, I object to the tendency to treat the Marshallian approach as good and the Walrasian one as bad. In the last part of the paper, I dispute the view held by several authors that an embryonic general equilibrium model is to be found in Marshall's Principles