School of Lausanne
Neoclassical school of thought in economics founded at the University of Lausanne by two of its Professors: Léon Walras and Vilfredo Pareto. The "School of Lausanne" is associated with the development of general equilibrium theory as well as the marginalist revolution Marginalism.
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“The scope of modern government in what it can and ought to accomplish for its people has been widened far beyond the principles laid down by the old “laissez faire” school of political rights, and the widening has met popular approval.”
—William Howard Taft (1857–1930)
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