John Hicks

Sir John Richard Hicks ( born April 8, 1904 in Leamington Spa, England; † 20 May 1989) was a British economist. He is considered one of the most important and influential economists of the 20th century.

Life

Hicks studied economics at Oxford. He then became 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 to 1946 he was a professor at the University of Manchester. In 1946 he returned to Oxford, where he was Drummond Professor of Political Economics. He was knighted in 1964 and received in 1972, together with Kenneth Arrow the price of the Swedish Riksbank Economic Sciences in Memory of Alfred Nobel.

Scientifically, he stood out among other shows by the 1939 so-called Kaldor -Hicks published criterion by which the efficiency of compensation payments is described in welfare comparisons. His most influential contribution to economics was developed together with Hansen IS / LM model, with which he contributed much to the theories of John Maynard Keynes (see Keynesianism ) to popularize, where he later his dissatisfaction with the IS- LM model, which was rejected by students of Keynes as Joan Robinson, expressed and described it as "a classroom gadget".