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John Bates Clark (1847-1938) was an American neo-classical economist. He was one of the pioneers of the marginalist revolution and opponent to the Institutionalist school of economics, and spent most of his career teaching at Columbia University. Early in his career Clark's writings reflected his German Socialist background and showed him as a critic of capitalism. He is better known for his use of marginal productivity to help explain the dis...
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John Bates Clark (1847-1938) made important contributions to the economic debate of his time. In The Distribution of Wealth: A Theory of Wages, Interest and Profits, he developed the "marginal productivity" concept and the "product exhaustion" thesis behind the Marginal Productivity Theory of Distribution, which he was the first to develop in 1889, from which he then extrapolated enormous ethical conclusions. Clark believed that this theory wa...
Contents Wealth Labor and Its Relation to Wealth The Basis of Economic Law The Elements of Social Service The Theory of Value The Law of Demand and Supply The Law of Distribution Wages as Affected by Combinations The Ethics of Trade The Principles of Cooperation Non-Competitive Economics The Economic Function of the Church John Bates Clark (1847-1938) played an important role in the development of marginal productivity, and had a great influen...
