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Sir John Richard Hicks Edit Profile

economist

Sir John Richard Hicks was a British economist. He is considered as one of the most important and influential economists of the 20th century.

Career

John Hicks was a lecturer at the London School of Economics and Political Science, where he met Friedrich Hayek. From 1935 to 1938 he was at the University of Cambridge, where he wrote his major work, "Value and capital". From 1938 to1946 he was a professor at the University of Manchester. At 1946 he returned to Oxford and worked as the Professor of Political Economics. He was knighted in 1964 and received the Nobel Prize in 1972 (together with Kenneth Arrow).

Achievements

  • He is the inventor of so-called Kaldor-Hicks criterion, which describes the efficiency of compensation payments for welfare comparisons. IS / LM model, which Hicks contributed, popularized the theories of John Maynard Keynes and made Hicks one of the most influential economists in the world.

Works

  • book

    • Value and Capital, 1939