Sir John Richard Hicks Quotes and Sayings - Page 1

“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
“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

#Week #Values
“Investment is a flighty bird which needs to be controlled.”
-- Sir John Richard Hicks

#Bird #Needs #Investment
“The best of all monopoly profits is a quiet life.”
-- Sir John Richard Hicks

#Quiet #Economics #Profit
“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 #Special #Wages
“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

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