what was john r hicks is lm model 
hicks is lm model is designed to show the relationship between the market for economic goods and loanable funds which is also known as the money market the former is called is or investment savings while the latter is known as lm the model is depicted on a graph where the is and lm intersect at the point where between the short run equilibrium and the interest rates and output it is often used to highlight how market preference changes affect the balance of interest rates and gdp the bottom linejohn r hicks is often considered one of the most influential economists of the 20th century he is credited with making significant contributions to several areas of the field including labor economics and welfare economics but it was his work with kenneth arrow involving general equilibrium theory and welfare theory that won the two men the nobel prize in 1972 