Top 6 Quotes & Sayings by Sir John Richard Hicks

Explore popular quotes and sayings by a British economist Sir John Richard Hicks.

Last updated on April 14, 2025.

Sir John Richards Hicks 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 (1937), which summarised a Keynesian view of macroeconomics. His book Value and Capital (1939) significantly extended general-equilibrium and value theory. The compensated demand function is named the Hicksian demand function in memory of him.

British - Economist | April 8, 1904 - May 20, 1989

Source: Wikipedia

Some of the most serious fallacies of traditional economics have been due to confusion between optimum and equilibrium conditions; the apparent influence of Dr. Pangloss upon the development of economic thought is for the most part nothing but pure intellectual error.

Sir John Richard Hicks

The best of all monopoly profits is a quiet life.

Sir John Richard Hicks

Investment is a flighty bird which needs to be controlled.

Sir John Richard Hicks

There is much of economic theory which is pursued for no better reason than its intellectual attraction; it is a good game. We have no reason to be ashamed of that, since the same would hold for many branches of mathematics.

Sir John Richard Hicks

We ought to define a man's income as the maximum value which he can consume during a week, and still expect to be as well off at the end of the week as he was at the beginning.

Sir John Richard Hicks

The theory of the determination of wages in a free market is simply a special case of the general theory of value. Wages are the price of labour.

Sir John Richard Hicks