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.
John Bates Clark 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.
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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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