A modern producer does not wish to keep the identical things that he makes but he does want to keep the value that he brings into existence.
More Quotes from John Bates Clark:
By reason of this objection on the legal side, the conclusive objection on the economic side is in danger of falling out of sight.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
The decree of a coercive tribunal would not need to conform to the true standard of wages, the final productivity of social labor. It would introduce into distribution a genuinely arbitrary element, with a very large ultimate power to pervert the natural system.
John Bates Clark
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
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
If we see to it that wages conform to the final productivity of social labor, we should see to it that trusts do not lower that standard.
John Bates Clark
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