This chapter traces the evolution of general equilibrium theory from its inception by Walras to its early refinements by Pareto, Fisher, and Hicks. Walras provided the seminal model representing the simultaneous clearing of markets in a competitive economy, unifying economic phenomena through the principle of interdependence. Walras counted equations and variables of his mathematical model to argue for the existence of an equilibrium but was unable to prove its unicity and stability. To address the problem of ‘false trading’ (transactions at non-equilibrium prices causing path-dependence), Walras introduced the concept of tâtonnement (groping) with ‘written pledges,’ making the adjustment process virtual, thereby ensuring convergence to the equilibrium but sacrificing realism. This created a tension between virtual and actual market dynamics. Pareto refined the model, introducing ordinal utility and a concept of optimality separating the issues of efficiency and distribution within pure theory. He stressed the need for sociology to understand real-world complexities and non-logical actions. Within an original general equilibrium framework, Fisher, significantly advanced monetary theory, introducing the equation of exchanges and the debt-deflation theory of inflation. Hicks synthesized general equilibrium elements with Keynesian ideas through the IS-LM model and subsequent extensions to dynamics and stability analysis.