In economics, the Hicks-Marshall laws of inferred demand assert that the wage elasticity of demand for a category of labor is high under the following conditions when all other things are equal: The “Hicks-Marshall” is named after economists John Hicks (of The Theory of Wages, 1932) and Alfred Marshall (of Principles of Economics, 1890). This article related to economics is a stub. You can help Wikipedia by expanding it.