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Sir John Richard Hicks Quotes

Investment is a flighty bird which needs to be controlled.

Investment is a flighty bird which needs to be controlled.

Sir John Richard Hicks
Bird, Needs, Investment

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
Determination, Business, Special
Sir John Richard Hicks (1963). “The theory of wages”

The best of all monopoly profits is a quiet life.

Sir John Richard Hicks
Monopoly Power, Quiet, Economics
1935 Econometrica,'The Theory of Monopoly'.

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
Games, Intellectual, Branches
1979 Causality in Economics.

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
Men, Income, Week
1946 Value and Capital (2nd edn).

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
Errors, Confusion, Intellectual

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