John Bates Clark

John Bates
Clark
1847
1938

American Neoclassical Economist

Author Quotes

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.

The market tends to pay as a wage what an individual laborer is worth. But the case last studied suggests the question how accurately the law operates in practice. May it not be an honest law, but be so vitiated in its working as to give a dishonest result?

Experience alone can give a final answer. The knowledge gained in a few years by a commission of the kind suggested would be worth more than volumes of mere assertions and contradictions.

Knowledge is the only instrument of production that is not subject to diminishing returns.

Author Picture
First Name
John Bates
Last Name
Clark
Birth Date
1847
Death Date
1938
Bio

American Neoclassical Economist