Critical Essays in Monetary Theory


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Critical Essays in Monetary Theory


HICKS, John R. Critical Essays in Monetary Theory. Oxford, England: Clarendon Press, 1967. Octavo, original navy cloth, original dust jacket.

First edition of this collection of essays on monetary theory by Nobel Prize-winner John Hicks.

"The first three of this collection of 12 essays represent an extended and revised version of several lectures, essentially on the theory of the demand for money, which Sir John delivered at the London School of Economics in January 1966. Essay 6, on 'The Pure Theory of Portfolio Selection' may be regarded as a mathematical appendix to these essays. Essay 4 is a report of Sir John's 'Suggestion for Simplifying the Theory of Money' (1935) which (we now realise) laid the foundations of the modern approach to the demand for money. Essay 5 is his paper, presented to the Manchester Statistical Society in 1958 on the history of the yield on Consols since 1750. Essay 7 is a reprint of his famous review of the General Theory, which originally appeared, under the title 'Mr. Keynes and the Classics,' in Econometrica in 1937, while Essays 8, 9, 10, and 11 may be regarded as further developments of the same theme, which special reference to the positions occupied by Patinkin, Wicksell, Dennis Robertson, Keynes (at the time of his Treatise) ad the founders of monetary theory… Finally in Essay 12, 'The Hayek Story,' we have Sir John's ingenious attempt to make sense of Hayek's Prices and Production (1931)… The collection offers a rich variety of fare" (Tew, The Economic Journal). "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, dust jacket near-fine, with tape repair to verso, slight rubbing and toning to extremities. A near-fine copy.

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