“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.”
Quote by John Bates Clark
Author
John Bates Clark
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. more
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