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.
John Bates Clark Quotes
The decree of a coercive tribunal would not need to conform to the true standard of wages, the final productivity of social labor. It would introduce into distribution a genuinely arbitrary element, with a very large ultimate power to pervert the natural system.
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| Birth: | 26th January, 1847 |
| Death: | 21st March, 1938 |
| Nationality: | American |
| Profession: | Economist |
About
John Bates Clark was born in Providence, Rhode Island, USA. He was an American 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 as professor at Columbia University from 1895-1923. He graduated from Amherst College in Massachusetts. He attended the University of Zurich and the University of Heidelberg where he studied under Karl Knies. He wrote several books include: The Philosophy of Wealth, The Distribution of Wealth, The Control of Trusts, Essentials of Economic Theory, Social Justice without Socialism, and A Tender of Peace.
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