john hicks

Sir John Richard Hicks (April 8, 1904 - May 20, 1989) was one of the most important and influential economists of the twentieth century. Hicks was born in Leamington Spa in Warwickshire, England, and was educated at Clifton College and Balliol College, Oxford. Subsequently he became a lecturer at the LSE. He spent the years from 1935 to 1938 at the University of Cambridge, mainly occupied with writing on his book Value and Capital. From 1938 to 1946 Hicks was a Professor at the Victoria University of Manchester. In 1946 he returned to Oxford, first being a research fellow of Nuffield College (1946-1965), then becoming Drummond Professor of Political Economis (1952-1965), and, after that, research fellow of All Souls College (1965-1971). Hicks shared the Bank of Sweden Prize in Economic Sciences in 1972. He developed the famous "compensation" criteria called Kaldor-Hicks efficiency for welfare comparisons in 1939. He collaborated much with the economist Sir R G D Allen, a Professor at LSE. His most influential contribution has come to be called the Hicks-Hansen IS-LM Model which, based on the theories of John Maynard Keynes (See Keynsianism, Macroeconomics), describes the economy as a balance between three commodities: money, consumption and investment.

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Hicks, John Hicks, John Hicks, John Hicks, John

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