ABSTRACT
In this chapter, Hicks’s work is examined in the light of his striking qualities: his powerful theoretical mind, his practical awareness, and his sense of the historical time dependence of intellectual contributions. Hicks’s theoretical sweep is discussed via four areas: the theory of value and price determination; price and quantity determination; the complications related to fixed capital; and the definition of money and the dichotomy between the real and money sector. The issue here is not Hicks’s success in resolving dilemas, but rather his constant, constructive approach which they highlight. Hicks’s concern with practical issues in applied economics (labour, unemployment, inflation, trade, balance of payments and international finance, and development) is then discussed. To illustrate, through examples, how Hicks consistantly handled the intricate issue of policy intervention with delicacy. Lastly, it is observed that while theory or practical application might appear to have been Hicks’s intermittant dominant concern, something more sophisticatedly measured is reflected in any pauses. Hicks’s renown sequential (re-)treatment of ideas was a reflection of another of his essential qualities: his sense of the historical time dependence of both theoretical and practical contributions. He was able both to put each into time perspective and to address thereby all unresolved issues again and again.
