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The 'new theory of money and the cycle' which is spoken of in the opening paragraph is of course Hayek's. It was from Hayek that I began - where I go… - John Richard Hicks
" "The 'new theory of money and the cycle' which is spoken of in the opening paragraph is of course Hayek's. It was from Hayek that I began - where I got to will be seen. Even at the end, I was minimising my differences from Hayek. I could do so because, as I have elsewhere explained (Economic Perspectives, p. 141n), I still thought, like Pigou and Robertson, and Hayek, but by that time unlike Keynes, that 'we were talking about fluctuations, which, since they did not result in complete collapse or complete explosion, could not have engendered an expectation of going on forever. Booms could then be considered as times of high prices, slumps as times of low prices - with regard to some norm, which throughout the which throughout the fluctuations would not be changed, or not much changed'.
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About John Richard Hicks
Sir John Richard Hicks (8 April 1904 – 20 May 1989) was a British economist, and economy professor at the and later the University of Oxford, who in 1972 received the Nobel Memorial Prize in Economic Sciences (jointly with Kenneth Arrow) for his pioneering contributions to general equilibrium theory and welfare theory.
Also Known As
Native Name:
John Hicks
Alternative Names:
Sir John Richard Hicks
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Sir John Hicks
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Sir John Richards Hicks
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Additional quotes by John Richard Hicks
It is not so well known that it [Keynes's and my own move from thinking in terms of price-levels and the rate of interest to thinking in terms of inputs and outputs] is matched by a movement from Hayek to Harrod. I once asked Harrod what had put him on to the construction of his so-call 'dynamic' theory; he said, to my surprise, that it was thinking about Hayek.
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