"GROWTH THEORY IS A BRANCH OF ECONOMIC DYNAMICS; OR BETTER, IT IS ONE OF THE METHODS OF ECONOMIC DYNAMICS": FIRST EDITION OF HICKS' CAPITAL AND GROWTH
HICKS, John R. Capital and Growth. Oxford, England: Clarendon Press, 1965. Octavo, original navy cloth, original dust jacket. $400.
First edition of this Keynes-influenced work about growth theory and its place in the wider world of economics.
Widely recognized as one of the landmark economics works of the 1960s, Capital and Growth reflects the early stages of Hicks grappling with linked factors in economics. While he expressed dissatisfaction with the work soon after publication for an inadequate modeling of time (he published Capital and Time a decade later), much of the analysis in Capital and Growth continues to be highly regarded by modern economists, particularly his work on the fixprice method. "One of the most important and influential economists of the 20th century, the trail of the eternally eclectic John Hicks is found all over economic theory… The quintessential 'economist's economist,' Hicks cannot be said to have founded a 'school… If any, his school was 'economics… Hicks' scholarly output is a perfect demonstration of how economics should be done: without partisanship for pet theories, without ideological quibbling, his own strictest critic, learning from all and everywhere, constantly searching for new ideas and staying glued to none… No economist, before or since Hicks, has achieved such 'Olympian' scholarship" (Fonseca). "Hicks will probably appear in the history of economics as the greatest British theorist of the century" (Niehans, 371). Hicks was awarded the Nobel Prize in economics in 1972.
Book fine, bright dust jacket with only minor rubbing and toning to extremities. A lovely copy.