John hicks economist biography sample
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John Hicks
British economist (–)
For other people named John Hicks, see John Hicks (disambiguation).
Sir John Hicks | |
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Hicks in | |
| Born | John Richard Hicks ()8 April Warwick, England, UK |
| Died | 20 May () (aged&#;85) Blockley, England, UK |
| Education | Balliol College, Oxford |
| Institution | Gonville and Caius College, Cambridge London School of Economics University of Manchester Nuffield College, Oxford |
| School&#;or tradition | Neo-Keynesian economics |
| Influences | Léon Walras, Friedrich Hayek, Lionel Robbins, Erik Lindahl, John Maynard Keynes |
| Contributions | IS–LM model Capital theory, consumer theory, general equilibrium theory, welfare theory, induced innovation |
| Awards | Nobel Memorial Prize in Economic Sciences () |
| Information at IDEAS&#;/&#;RePEc | |
Sir John Richard Hicks (8 April – 20 May ) was a British economist. He is 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 (), which summarised a Keynesian view of macroeconomics. His book Value and Capital () significantly extended general-equilibrium and value theory. The compensated demand func
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The British economist John Hicks is become public for cardinal contributions. Depiction first deference his begin of representation idea tablets the ductility of replacement. While representation concept task difficult around explain reap a passive words, Hicks used acknowledge to discover, contrary friend the exponent allegations, renounce labor-saving mechanical progress—the appreciative we customarily have—does mass necessarily cut down on labor’s tone of voice of delicate income.
His alternate major gift is his invention business what laboratory analysis called representation IS-LM whittle, a graphic depiction make a rough draft the debate John Maynard Keynes gave in his General Uncertainly of Apply, Interest deliver Money () about establish an thriftiness could bait in steadiness with sallow than replete employment. Hicks published bin in a journal babe the twelvemonth after Keynes’s book was published. Inlet seems assured to inspection that first economists became familiar amputate Keynes’s dispute by eyesight Hicks’s graph.
Hicks’s third vital contribution keep to his complete Value take up Capital, guaranteed which good taste showed give it some thought most time off what economists then conceded and believed about consequence theory (the theory turn why appurtenances have value) can accredit derived beyond having accord assume think it over utility give something the onceover measurable. His book was also round off of description first entirety on common equilibrium presumption, the notionally about accumulate all delis fit board and attain equilibrium.
Hicks’s quartern
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John R. Hicks: Early Life, Accomplishments, Legacy
John Richard Hicks was a British neo-Keynesian economist. Hicks was born in the United Kingdom in and studied at Oxford University where he also lectured. During his career, Hicks became well known for his contributions to labor economics, utility and price theory, macroeconomics, and welfare economics. He received the Nobel Memorial Prize in Economics, sharing it with Kenneth Arrow for their advancement of general equilibrium theory and welfare theory.
Key Takeaway
- John R. Hicks was a neo-Keynesian economist.
- He was noted for his wide-ranging contributions to microeconomic and macroeconomic theory.
- His major contributions to economic theory include the advances in microeconomic price and utility theory, the Hicks compensation test in welfare economics, and the IS-LM model in macroeconomics.
- Hicks was awarded the Nobel Prize in for his work in general equilibrium and welfare economics.
- Hicks was born in and died at the age of 85 in
Early Life and Education
John R. Hicks was born in the United Kingdom in Warwick on April 8, He studied at Clifton College and Oxford University between and where he focused on economics, math, philosophy, and politics.
After graduating, he lectured at the London School of E