This text shows how John Hicks' analysis has helped to extend and transform some important developments in economic theory. It includes discussions on the reformulation of marginal productivity theory, wage regulation, unemployment and the growth of trade union power, and features a new foreword by a world renowned expert.
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JOHN HICKS (1904-1989), was a British Economist, and one of the most important and influential economists of the twentieth century. He taught at London School of Economics and Political Science, UK, from 1926 to 1935, where he wrote one of his most well known works Value and Capital. From 1938 to 1946 he was Professor at the University of Manchester, UK. It was there that he did his main work on welfare economics, with its application to social accounting. From 1952 to 1965 he was Fellow of All Souls College, and Drummond Professor of Political Economy at the University of Oxford, UK. In 1972 he received the Nobel Prize in Economic Sciences (jointly), for his pioneering contribution to general economic equilibrium theory and welfare theory.
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