Hicks, Sir John R.
▪ British economistin full Sir John Richard Hicksborn April 8, 1904, Leamington Spa, Warwickshire, Englanddied May 20, 1989, Blockley, GloucestershireEnglish economist who made pioneering contributions to general economic equilibrium theory and, in 1972, shared (with Kenneth J. Arrow (Arrow, Kenneth J.)) the Nobel Prize for Economics. He was knighted in 1964.Hicks made major contributions to many areas of 20th-century economics; four, in particular, stand out. First, he showed that, contrary to what Karl Marx (Marx, Karl) had believed, labour-saving technological progress does not necessarily reduce labour's share of the income. Second, he devised a diagram—the IS-LM diagram—that graphically depicts John M. Keynes (Keynes, John Maynard)'s conclusion that an economy can be in equilibrium with less-than-full employment. Third, through his book Value and Capital (1939), Hicks showed that much of what economists believe about value theory (the theory about why goods have value) can be reached without the assumption that utility (utility and value) is measurable. Fourth, he came up with a way to judge the impact of changes in government policy. He proposed a compensation test that could compare the losses for the losers with the gains for the winners. If those who gain could, in principle, compensate those who lose—even if they do not actually and directly compensate them—then, claimed Hicks, the change in policy would be efficient.
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Hicks, Sir John R(ichard) — born April 8, 1904, Leamington Spa, Warwickshire, Eng. died May 20, 1989, Blockley, Gloucestershire British economist. He taught at several institutions, notably the University of Oxford, and he was knighted in 1964. His classic work Value and… … Universalium
Hicks, Sir John R(ichard) — (8 abr. 1904, Leamington Spa, Warwickshire, Inglaterra–20 may. 1989, Blockley, Gloucestershire). Economista británico. Fue docente en varias instituciones, en particular en la Universidad de Oxford. Fue nombrado caballero en 1964. Su obra clásica … Enciclopedia Universal
Sir John Gielgud — John Gielgud Demande de traduction John Gielgud → … Wikipédia en Français
Sir John Fuller, 1st Baronet — Infobox Person name = Sir John Fuller, 1st Baronet image size = caption = birth date = October 21, 1864 birth place = Neston Park, Corsham, Wiltshire death date = September 4, 1915 death place = other names = known for = occupation = nationality … Wikipedia
John Hicks — Pour les articles homonymes, voir Hicks. Sir John Richard Hicks (8 avril, 1904 20 mai, 1989) économiste britannique et colauréat, avec Kenneth Arrow du « prix Nobel » d économie en 1972, est l un des économistes les plus importants et influents… … Wikipédia en Français
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