By reason of this objection on the legal side, the conclusive objection on the economic side is in danger of falling out of sight.
More Quotes from John Bates Clark:
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.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
We do not defend the perversions of the natural economic system but because they are perversions merely, we shall remove them and keep the system.
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 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
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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