Sir John Hicks
| Sir John Hicks | |
|---|---|
| Born |
John Richard Hicks 8 April 1904 Warwick, England |
| Died | 20 May 1989 (aged 85) Blockley, England |
| Nationality | British |
| Institution |
Gonville & Caius College, Cambridge London School of Economics University of Manchester Nuffield College, Oxford |
| School or tradition |
Neo-Keynesian economics |
| Alma mater | Balliol College, Oxford |
| Influences | Friedrich Hayek, Lionel Robbins, Erik Lindahl |
| Contributions |
IS/LM model Capital theory, consumer theory, general equilibrium theory, welfare theory, induced innovation |
| Awards | Nobel Memorial Prize in Economic Sciences (1972) |
| Information at IDEAS / RePEc | |
Sir John Richard Hicks (8 April 1904 – 20 May 1989) was a British man considered one of the most important and influential economists of the twentieth century. The most familiar of his many contributions in the field of economics were his statement of consumer demand theory in microeconomics, and the IS/LM model (1937), which summarised a Keynesian view of macroeconomics. His book Value and Capital (1939) significantly extended general-equilibrium and value theory. The compensated demand function is named the Hicksian demand function in memory of him.
In 1972 he received the Nobel Memorial Prize in Economic Sciences (jointly) for his pioneering contributions to general equilibrium theory and welfare theory.
Hicks was born in 1904 in Warwick, England, the son of Dorothy Catherine (Stephens) and Edward Hicks, a journalist at a local newspaper.
He was educated at Clifton College (1917–22) and at Balliol College, Oxford (1922–26), financed by mathematical scholarships. During his school days, and in his first year at Oxford, he specialised in mathematics but also had interests in literature and history. In 1923, he moved to Philosophy, Politics and Economics, the "new school" just being started at Oxford, graduating with second-class honors and, so he states, "no adequate qualification in any of the subjects" that he had studied.
From 1926 to 1935 Hicks lectured at the London School of Economics and Political Science. He started as a labour economist and did descriptive work on industrial relations but gradually he moved over to the analytical side, where his mathematics background returned to the fore. Hick's influences included Lionel Robbins and such associates as Friedrich von Hayek, R.G.D. Allen, Nicholas Kaldor, and Abba Lerner – and Ursula Webb, who, in 1935, became his wife.
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