LIMITS ON GROWTH*
I regard it as a great privilege to have been asked to give the second of the Special Lectures which the University of Oxford arranged as an annual event in honour of Professor Sir John Hicks. I do so for both personal and professional reasons.
For convenience of exposition, though not on account of its prime importance, I should like to speak of my personal reasons first. Sir John Hicks is one of my oldest friends in England, and I owe him an immense debt for all that he taught me at the time when my knowledge of economics was very rudimentary. He is four years my senior--a difference which is hardly worth a mention now, but was of enormous significance when we were both young and he was a fully qualified teacher in economics when I was a first year undergraduate. John Hicks first came to the LSE from Oxford as a lecturer in 1926. I arrived a year later, and began as a first-year student reading for an economics degree in October 1927.
I first got to know him when I attended his lectures on Advanced Economic Theory. I remember a great deal of that course since it gave an exposition of the theories of Walras and Pareto and how they compared with the partial equilibrium method of Marshall. After my graduation I was awarded a Research Studentship and I moved into a small unfurnished flat in Bloomsbury which, as it happened, was next door to the one occupied by John Hicks. It did not take long before we saw each other frequently--indeed almost daily, for meals in small Italian restaurants, and talked about economics incessantly. There was at least one occasion when we went on a joint continental holiday. This, in some ways idyllic, arrangement came to a halt (though only temporarily) with my marriage, closely followed by a Rockefeller Fellowship in the United States, while Hicks married a close LSE friend and fellow graduate student, Ursula K. Webb (who died recently) who was the real____________________