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General equilibrium theory is an instrument for the analysis of market economies. The wide range of concepts used in general equilibrium stems from the complexity of market economies. In this article, I provide an overview of some important steps in the development of general equilibrium theory. Then, I show that theoreticians working with general equilibrium models will seldom arrive at definite conclusions without precise references to quantitative observations.

Neoclassical General Equilibrium Theory as a Source of Powerful Concepts, Although Confronted with the Complexity of Market Economies