The Distribution of Wealth: A Theory of Wages, Interest and Profits

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Adamant Media, May 1, 2001 - Distribution (Economic theory) - 480 pages
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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 was not only a correct theory of market incomes but demonstrated that market outcomes were just. In this book Professor Clark made the theory of marginal productivity clear enough that we take it for granted today. His work remains illuminating because of its classic explanations of the mobility of capital via its recreation while it wears out, the difference between static and dynamic models, the equivalence of rent and interest, the inability of entrepreneurs to "exploit" (meaning, underpay) labor (or capital) in a competitive market economy, the flaws of widely-quoted existing theories such as the labor theory of value and the irrelevance of rent on land, and, in a famous footnote, why von Th nen's concept of final productivity didn't go far enough. The author was Professor of Political Economy at Columbia University. He was a prominent apologist for the capitalist system whose insights influenced many other economists, including Frank Knight. He helped found the American Economic Association, serving as its president from 1893 to 1895.

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Clark: The Distribution of Wealth, Front Matter: Library of ...
Title: The Distribution of Wealth: A Theory of Wages, Interest and Profits. Published: New York: Macmillan Company, 1908. First published: 1899. ...
www.econlib.org/ library/ Clark/ clkDW0.html

JSTOR: The Distribution of Wealth. A Theory of Wages and Interest.
The Distribution of Wealth. A Theory of Wages and Interest. fy Edgeworth. The Economic Journal, Vol. 10, No. 40, 534-537. Dec., 1900. ...
links.jstor.org/ sici?sici=0013-0133(190012)10%3A40%3C534%3ATDOWAT%3E2.0.CO%3B2-8

Online Library of Liberty - The Distribution of Wealth: A Theory ...
The Distribution of Wealth: A Theory of Wages, Interest and Profits (New York: Macmillan, 1908). Author: John Bates Clark ...
oll.libertyfund.org/ index.php?option=com_staticxt& staticfile=show.php%3Ftitle=329& Itemid=28

John Bates Clark - Wikipedia, the free encyclopedia
From Wikipedia, the free encyclopedia. Jump to: navigation, search. "John B. Clark" redirects here. For the American congressmen, see John Bullock Clark and ...
en.wikipedia.org/ wiki/ John_Bates_Clark

Clark, John Bates. The American Heritage® Dictionary of the ...
Clark, John Bates. The American Heritage® Dictionary of the English Language: Fourth Edition. 2000
www.bartleby.com/ 61/ 73/ C0387300.html

John Bates Clark: Biography and Much More from Answers.com
John Bates Clark The American economist John Bates Clark (1847-1938) was the first economic theorist from the United States to achieve an
www.answers.com/ topic/ john-bates-clark

JSTOR: The Distribution of Wealth. A Theory of Wages, Interest and ...
JOHN BATES CLARK: The Distribution of Wealth. A Theory of Wages, Interest and Profits. New-York. Macmillan Comp. I899. JOHN A. HOBSON: The Economics of ...
links.jstor.org/ sici?sici=0284-7310(1902)4%3C85%3ATDOWAT%3E2.0.CO%3B2-I

Investment - Selected References
jb Clark (1899) The Distribution of Wealth: A theory of wages, interest and profits. 1927 edition, New York: Macmillan. ...
cepa.newschool.edu/ het/ essays/ capital/ investref.htm

<img src="../../graphics/front_end/00origin.gif" border="0 ...
John Bates Clark, The Distribution of Wealth: A Theory of Wages, Interest and Profits (New York, 1899), pv; Clark, Distribution of Wealth, pp. 48-50. ...
www.mhhe.com/ cgi-bin/ mcbrue15.pl?url=origin27-1

Notes on the Meaning of 'Competition' in Economic Thought These ...
(jb Clark: The Distribution of Wealth: A Theory of Wages, Interest and Profits. Macmillan: 1899, preface. As quoted in Makowski and Ostroy 1992, pp. 371-2.) ...
mayet.som.yale.edu/ coopetition/ webHistory.html

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