Sir John Hicks

Sir John Richard Hicks by Walter Stoneman, 1953. NPG x28986

Sir John Hicks received the Nobel Prize in Economic Sciences (jointly) in 1972 for his pioneering contribution to general economic equilibrium theory and welfare theory.

He taught at LSE from 1926 to 1935, and his most well-known work is Value and Capital, written while he was at LSE and published in 1939. He was married to LSE economist Ursula Hicks.

By being deeply anchored in theories of the behaviour of consumers and of entrepreneurs, John Hicks' model offered far better possibilities to study the consequences of changes in externally given variables than earlier models in this field, and Hicks succeeded in formulating a number of theorems. He donated the Nobel Prize to the School's Library Appeal in 1973.