Clark, John Bates

Clark, John Bates

▪ American economist
born January 26, 1847, Providence, Rhode Island, U.S.
died March 21, 1938, New York, New York
 American economist noted for his theory of marginal productivity (marginal productivity theory), in which he sought to account for the distribution of income from the national output among the owners of the factors of production (labour and capital, including land).

      Clark was educated at Brown University and Amherst College. He then studied in Heidelberg, Germany, and Zürich, Switzerland. Returning to the United States, he taught at Carleton, Smith, and Amherst colleges and at Columbia University (1895–1923).

      The publication of Clark's Philosophy of Wealth (1886) marked his “revolt against the spirit of the old political economy.” He argued that people were motivated as much by their social interests as by their self-centred personal interests. He therefore rejected pure economic competition as a means by which products could be equitably distributed. In The Distribution of Wealth (1899) Clark developed his distinctive utility theory. He held that commodities contain within them “bundles of utilities”; i.e., they represent varying qualitative degrees of utility. In this work he also developed his marginal productivity theory by first setting up a theoretical model of perfect, “static” competitive equilibrium undisturbed by any dynamic change. From this theoretical model he reached his conclusions on the distribution of the total national product. Here he also advanced the concept of social capital as being a permanent, ongoing stream of future incomes out of which all productive inputs, including capital goods, are temporarily taken for a charge (interest).

      Clark was one of the founders of the American Economic Association (of which he was president, 1893–95). His purpose, along with cofounders Richard Ely (Ely, Richard T.) and Henry Carter Adams, was to encourage a shift in thinking away from laissez-faire policies. He was editor of the Political Science Quarterly (1895–1911) and served as director of the division of economics and history of the Carnegie Endowment for International Peace (1911–23).

      Clark became convinced in his later years that war constituted the greatest threat to human destiny. His last publication, A Tender of Peace (1935), called for a powerful League of Nations to enforce peace.

* * *


Universalium. 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • Clark,John Bates — Clark, John Bates. 1847 1938. American economist known for his theory of marginal productivity. He wrote The Philosophy of Wealth (1885) and The Distribution of Wealth (1899). * * * …   Universalium

  • Clark, John Maurice — ▪ American economist born Nov. 30, 1884, Northampton, Mass., U.S. died June 27, 1963, Westport, Conn.       American economist whose work on trusts brought him world renown and whose ideas anticipated those of John Maynard Keynes.       Clark… …   Universalium

  • John Bates Clark — Pour les articles homonymes, voir Clark. John Bates Clark (26 janvier 1847 – 21 mars 1938) est un économiste américain néo classique. Il est un des pionners du marginalisme. Il a passé la plus grande partie de sa carrière… …   Wikipédia en Français

  • John Bates Clark — (* 26. Januar 1847 in Providence; † 21. März 1938 in New York City, New York) war ein US amerikanischer Ökonom der Neoklassik. Er gilt als einer der führenden Autoren der anglo amerikanischen Grenznutzenschule (auch Cambridge School) sowie als… …   Deutsch Wikipedia

  • John Bates — may refer to:* John Bates (designer), fashion designer who designed Diana Rigg s clothes in The Avengers * John Bates (SDP), former president of the UK Social Democratic Party * John C. Bates (1842 1919), U.S. general and army chief of staff 1906 …   Wikipedia

  • John Bates Clark — Infobox Scientist image width = 220px name = John Bates Clark birth date = Birth date|1847|1|26|mf=y birth place = Providence, Rhode Island death date = death date and age|1938|3|21|1847|1|26 death place = New York City residence = nationality =… …   Wikipedia

  • John Bates Clark Medal — The John Bates Clark Medal is awarded by the American Economic Association to that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge .[1] According to the Chronicle …   Wikipedia

  • John Bates Clark Medal — An award issued to an American economist under the age of 40 who has made important contributions to the field of economics. The Clark Medal is one of the most prestigious awards in the field, and many John Bates Clark Medal winners have gone on… …   Investment dictionary

  • John Bates Clark Medal — Die John Bates Clark Medal ist eine prestigeträchtige Auszeichnung der American Economic Association. Verliehen wird die John Bates Clark Medal an den „amerikanischen Ökonom unter vierzig Jahren, der einen signifikanten Beitrag zum ökonomischen… …   Deutsch Wikipedia

  • John Bates Clark — An American Neoclassical economist renowned for his development of the marginal productivity theory of distribution. John Bates Clark is best known for his works on marginal utility, a revolutionary principal in economics. Born in 1847 in Rhode… …   Investment dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”