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John Bates Clark
Beginning of essay
was an American economist who lived from 1847-1938. He
played an important role in the development of marginal productivity, and had a
great influence on the development of economic thought in the United States.
Clark was educated at Amherst College and at the University of Heidelberg in
Germany. ....
Middle of essay
....felt was one of the chief goals of any
economic system. He felt that with this technological change, labor would be
more productive and lead to higher profits for industry. When the labor would
see that industry was making higher profits, they would demand its share of the
profits for their hard work. The labor's higher wages and the industries'
higher profits would increase incomes and better the social living for everyone.
Among Clark's works are The Philosophy of Wealth (1886), The
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| Number of words: 455 |
Approximate pages: 2 |
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