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… — Sir John Richard Hicks Copy Share Image
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… — Sir John Richard Hicks Copy Share Image
The theory of the determination of wages in a free market is simply a special case of the general theory of value. Wages are… — Sir John Richard Hicks Copy Share Image
Some of the most serious fallacies of traditional economics have been due to confusion between optimum and equilibrium conditions; the apparent influence of Dr.… — Sir John Richard Hicks Copy Share Image
There is much of economic theory which is pursued for no better reason than its intellectual attraction; it is a good game. We have… — Sir John Richard Hicks Copy Share Image
