An Introduction to “Anarchism, Socialism and Social Reform” by John Bates Clark

Abstract

John Bates Clark (1847–1938) holds a secure position in the history of American economic thought. Specifically, he is remembered for developing the marginal product theory of distribution, which was presented in its most complete form inThe Distribution of Wealth(1899). However, Clark's primary intellectual commitment has been largely overlooked. This was his search for the rules and institutions that would create a prosperous economy featuring a just distribution while maintaining the essential structures of competitive capitalism.