Jon Hicks English economist Date of Birth: 08.04.1904 Country: Great Britain

Biography of John Hicks

Sir John Richard Hicks, an English economist, was born on April 8, 1904, in Warwick, England. His father was a journalist for a local newspaper. Hicks attended Clifton College from 1917 to 1922 and Balliol College, Oxford, from 1922 to 1926. Initially, he focused on studying mathematics, but he also had an interest in literature and history. In 1923, he shifted his main focus to philosophy, politics, and economics, which were becoming increasingly popular at Oxford. According to his own assessment, he did not become sufficiently qualified in any of these disciplines.

From 1926 to 1935, Hicks taught at the London School of Economics and Political Science (LSE). He initially started as a labor economist and made notable contributions in the field of labor relations. However, over time, he shifted his focus to the analytical side of economics, where his mathematical knowledge proved invaluable. Hicks was influenced by Lionel Robbins, as well as several colleagues, including Friedrich von Hayek, R.G.D. Allen, Nicholas Kaldor, Abba Lerner, and Ursula Webb, the latter of whom became Hicks' spouse in 1935.

From 1935 to 1938, Hicks lectured at Cambridge, where he was also a fellow of Gonville & Caius College. During this time, he dedicated most of his efforts to completing his book "Value and Capital," which was based on his accumulated knowledge from his time in London.

From 1938 to 1946, Hicks was a professor at the University of Manchester. It was during this period that he produced his main work on welfare economics, applied to social accounting. In 1946, Hicks returned to Oxford, initially as a research fellow at Nuffield College. From 1952 to 1965, he served as a professor of political economy, and from 1965 to 1971, he continued his academic work as a research fellow at All Souls College, even after retirement. Additionally, John was an honorary fellow of Linacre College.

One of Hicks' early works as a labor economist developed into a full-fledged book titled "The Theory of Wages." This work continues to be considered a standard in the field of wage regulation. Among his other notable works are "Capital and Growth," "A Market Theory of Money," and "Mr Keynes and the Classics: A Suggested Interpretation." Hicks was knighted in 1964 and awarded the Nobel Prize in Economics alongside Kenneth J. Arrow in 1972. He donated his monetary reward to the London School of Economics and Political Science.

Hicks passed away on May 20, 1989, in the English village of Blockley, Cotswold, Gloucestershire.