9 John Bates Clark Quotes for You to Enjoy

John Bates Clark

American Economist

Born: Jan 26, 1847

Died: Mar 21, 1938

Competition Made Man Power Socialism Worth

Related authors: Alan Greenspan Herbert A. Simon John Kenneth Galbraith Milton Friedman Paul A. Volcker Richard Thaler Robert Reich Thomas Sowell

A laborer no longer makes whole articles. He receives raw materials, puts his touch on them, and passes them to another worker in the series. When the articles are quite finished they are carried out of sight by currents of commercial exchange. These currents are untraceable. John Bates Clark

Finished Sight Carried Out Touch Exchange He Raw Puts Raw Materials Longer Another Makes Passes Materials His Laborer Commercial Articles Quite Currents Them Worker Whole Series Receives

If a man were living in isolation his income would be literally his product. Make him the monarch and owner of an island, and the fruits that he raises and the clothing that he makes constitute, in themselves, his income. This ceases to be true when trading begins. John Bates Clark

Man Be True Isolation Living Would Would-Be Constitute He True Make Him Island Makes Trading Were His Ceases Begins Owner Clothing Literally Fruits Themselves Product Monarch Income Raises

The limit is not as narrow as it might be. I do not claim for this action, as it now goes on, an ideal degree of efficiency. What I do claim is that this type of competition already reveals its nature and its ultimate power to hold seeming monopolies in check. John Bates Clark

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? John Bates Clark

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

Freedom Persistence Competition Fate Liberty Say One Thing Individual Individual Freedom The One Thing Which Mean Us Binds Thing Guaranteed

Socialism appeals to better classes and has far more strength. Attack the state and you excite feelings of loyalty even among the disaffected classes; but attack the industrial system and appeal to the state, and you may have loyalty in your favor. John Bates Clark

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

Service Broken Business World Become Doubt Section We Cannot Administrative Invaluable Laws Through Clear Render Dead Afford Commission Any Cannot Whether View Business World Large Letter Vagueness

In a recent decision of the Supreme Court, not made, however, by the full court, and concurred in by only four justices, it was held that the seller of a patented mimeograph could bind the purchaser to use only his ink in the machine, though the ink was not patented. John Bates Clark

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