Sir John Hicks; Won Nobel Prize
Sir John Hicks, co-winner of the Nobel Memorial Prize in Economic Science in 1972, has died, his family announced Sunday. He was 85.
Sir John, who was knighted in 1964 for services to economics and who shared the Nobel Prize for his work on the determination of prices and allocation of resources in an economy, died Saturday at his home in Blockley, Gloucestershire, west of London. No cause of death was announced.
He was for many years a lecturer at the London School of Economics, Oxford and Cambridge universities and the University of Manchester.
The award capped a career in which Sir John frequently attacked monetarist theory, which advocates strict control of money supply as the chief method of stabilizing an economy.
Sir John was a pioneer in streamlining the equilibrium theory, which explains the determination of prices and allocation of economic resources.
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