John Hicks - Definition and Overview

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 a professor at the University of Oxford for most of his life, and 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 also a Professor at LSE.

Hicks was born in Leamington Spa in Warwickshire, England. 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.

See also

• List of economists
• List of economics consultancies and think tanks
• Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel
• Liberalism
• List of liberal thinkers

External links

• http://www.nobel-winners.com/Economics/john_richard_hicks.html