John Hicks

"I remember Robbins asking me if I could turn the Hayek model into mathematics... it began to dawn on me that... the model must be better specified. It was claimed that, if there were no monetary distu…"

"The standard stream corresponding to Income No. 3 is constant in real terms... We ask... how much he would be receiving if he were getting a standard stream of the same present value as his actual exp…"

"Hayek was making us think of the productive process as a process in time, inputs coming before outputs."

"The purpose of income calculations in practical affairs is to give people an indication of the amount which they can consume without impoverishing themselves. Following out this idea, it would seem th…"

"So long as we confine our attention to income from property, and leave out of account any increment or decrement in the value of prospects due to changes in people's own earning power , Income No. 1 e…"

"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 …"

"I can date my own personal 'revolution' rather exactly to May or June 1933. It was like this. It began... with Hayek. His "Prices and Production" is one of the influences that can be detected in The T…"

"There were four years, 1931-1935, when I was myself a member of Hayek's seminar in London; it has left a deep mark on my thinking... At the end of the discussions in that seminar … we were, I believe,…"