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John Bates Clark Biography

Economist

John Bates Clark was an American economist known for his research on marginal utility theory and theories of income distribution. His contributions to the field of economics have had a profound impact on subsequent economists.

Whole Materials Sight Series Workers Currents Finished Articles Raw Materials Laborers

Author:John Bates Clark

“As the work progresses the careful reader will insert mental interrogation points here and there. He will find that his interest increases as the interrogation points become more frequent, and that it culminates where they are changed to marks of positive dissent. I venture to record the opinion that the value of the work reaches a maximum in a passage that is demonstrably incorrect.”

Values Interest Opinion Records Progress Changed Reader Economics Increase Mark Careful Passages Venture Maximum Here And There Dissent Insert Interrogation

Author:John Bates Clark

“The first issue to be settled is whether socialism has a right to exist. Are its allegations concerning the present system true? Is industry proceeding on a principle of fraud? I wish to test the power of recent economic theory to give an exact answer to this question.”

Giving Firsts Philosophy Political Wish Answers Principles Issues Economic Theory Industry Economics Tests Socialism Fraud Hype Proceeding Allegations Economic Theory

Author:John Bates Clark

“If the adjustment made by a court can be accepted or not, it will be refused whenever the men can gain more by continuing the strike, with whatever of violence that involves.”

Ifs Men Made Violence He Man Gains Court Strikes Accepted Continuing Adjustment

Author:John Bates Clark

“When we say that the persistence of competition is ensured by fate, we mean that individual freedom is so guaranteed. The one thing to which fate binds us is liberty.”

Mean Individual Liberty Fate One Thing Competition Persistence Individual Freedom

Author:John Bates Clark

“If a man were living in isolation his income would be literally his product. Make him the monarch and owner of an island, and the fruits that he raises and the clothing that he makes constitute, in themselves, his income. This ceases to be true when trading begins.”

Ifs Men Would Be Products Raises Fruit Cease Income Being True Islands Isolation Owners Clothings Trading Monarchs

Author:John Bates Clark

“Socialism appeals to better classes and has far more strength. Attack the state and you excite feelings of loyalty even among the disaffected classes; but attack the industrial system and appeal to the state, and you may have loyalty in your favor.”

May States Feelings Class Favors Loyalty Socialism Appeals

Author:John Bates Clark

“We cannot afford to have any large section of the business world in doubt whether they have broken the laws or not, and we cannot let the laws become a dead letter through vagueness. In this view it is clear that an administrative commission can render invaluable service.”

World Law Views Clear Doubt Broken Letters Sections Invaluable Administrative Business World Vagueness

Book:The Control of Trusts

Source: The Control of Trusts

About the Author

Born: January 26, 1847
Died: March 21, 1938
Known for: Economist
Quotes: 8

Books & Sources

The Control of TrustsRelated source material

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