John Bates Clark

the long version

This study details J. B. Clark's theoretical development, focusing on the rise of his marginal productivity theory of distribution, and demonstrates that Clark's work was prompted and promoted by the changing economic and social conditions of the period. It is shown that the writings of Clark's early 'Christian Socialist' period, are not as distinct from his mature period as is usually argued. In fact, Clark's religious beliefs are demonstrated to be significant in the understanding of the intellectual process through which he reached his mature stage of theoretical development. Throughout this work, Clark's political perspective and his understanding of the threats to established authority are brought to bear on the argument as to what Clark himself thought he was accomplishing in setting forth his version of the productivity theory: Clark believed that theory should never be developed independently of existing authority and property relations. Rather, he believed that economic theory should be designed to uphold the sanctity of both authority and property.