“There were four years, 1931-1935, when I was myself a member of Hayek's seminar in London; it has left a deep mark on my thinking… At the end of the discussions in that seminar … we were, I believe, on the point of taking what now seems to me to be a decisive step. I was, at least, on the point of taking it myself. There is evidence for that in my "Value and Capital", much of the groundwork for which was done before I left London.”

— John Hicks

Source: Classics and Moderns, (1983), p. 97

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "There were four years, 1931-1935, when I was myself a member of Hayek's seminar in London; it has left a deep mark on m…" by John Hicks?

John Hicks 14

British economist 1904–1989

Related quotes

“So, these were the four components of my upbringing -- the academic stuff where I was left to myself, Mahendrabhai, my father's passion for creating Reliance and the last piece was his deep links with the family.”

Mukesh Ambani (1957) Indian business magnate

Always invest in businesses of the future and in talent

“The family image, the family tradition, was that my parents were poor immigrants into East London, and that they thought that education was vitally important. But they both left school at fourteen, and so I grew up with the idea that, but for the opportunity, my parents would have been educated. That they were giving me this opportunity, and by golly, I better take advantage of it.”

Michael Marmot (1945) Professor of Epidemiology and Public Health

Interview, 18 March 2002

“Investment of capital, to yield its fruit in the future, must be based on expectations, of opportunities in the future. When I put this to Hayek, he told me that this was indeed the direction in which he had been thinking. Hayek gave me a copy of a paper on 'intertemporal equilibrium', which he had written some years before his arrival in London; the conditions for a perfect foresight equilibrium were there set out in a very sophisticated manner.”

John Hicks (1904–1989) British economist

Source: Money, Interest and Wages, (1982), p. 6
Context: I remember Robbins asking me if I could turn the Hayek model into mathematics... it began to dawn on me that... the model must be better specified. It was claimed that, if there were no monetary disturbance, the system would remain in 'equilibrium'. What could such an equilibrium mean? This, as it turned out, was a very deep question; I could do no more, in 1932, than make a start at answering it. I began by looking at what had been said by... Pareto and Wicksell. Their equilibrium was a static equilibrium, in which neither prices nor outputs were changing... That, clearly, would not do for Hayek. His 'equilibrium' must be progressive equilibrium, in which real wages, in particular, would be rising, so relative prices could not remain unchange … The next step in my thinking, was … equilibrium with perfect foresight. Investment of capital, to yield its fruit in the future, must be based on expectations, of opportunities in the future. When I put this to Hayek, he told me that this was indeed the direction in which he had been thinking. Hayek gave me a copy of a paper on 'intertemporal equilibrium', which he had written some years before his arrival in London; the conditions for a perfect foresight equilibrium were there set out in a very sophisticated manner.

“I had been taking Prevacid for about four years and my body built up a resistance to it, to the point where it wasn't doing anything anymore… I had a night of drinking in London followed by a full day and night of drinking on a day off in Dublin, because what else is there to do in Ireland but drink? That, coupled with a show where I had monitor problems, and I pretty much trashed my voice.”

David Draiman (1973) American singer and songwriter

Life Is Sweet For Disturbed — Apart From A Little Acid Reflux http://www.webcitation.org/64qCyHxIX, Jon Wiederhorn di MTV, 16 November 2005)

“I used to think that myself and my songs were the same thing. But I don't believe that any more. There's myself and there's my song, which I hope is everybody's song.”

Bob Dylan (1941) American singer-songwriter, musician, author, and artist

Interview by Hubert Saal, "Dylan is Back," Newsweek (26 February 1968)

“It does not frighten me to leave this life that my only son left five years ago, this life that insists we bear sorrow upon sorrow long after we can bear no more. No, I believe I shall gladly take my leave when the time comes. What frightens me, hamshira, is the day God summons me before him and asks, Why did you not do as I said, Mullah? Why did you not obey my laws? How shall I explain myself to him, hamshira?”

Khaled Hosseini book A Thousand Splendid Suns

What will be my defense for not heeding His commands? All I can do, all any of us can do, in the time we are granted, is to go on abiding by the laws He has set for us. The clearer I see my end, hamsira, the nearer I am to my day of reckoning, the more determined I grow to carry out His word. However painful it may prove.
Talib Judge, p. 366
A Thousand Splendid Suns (2007)