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.
More Quotes from John Bates Clark:
Dull would be the man who should merely tolerate this plan of social industry. Weak would be the position of him who should take an apologetic tone in defending it, or present its claims in a merely negative way, by exposing the evils and perils of the socialistic plan.John Bates Clark
If the adjustment made by a court can be accepted or not, it will be refused whenever the men can gain more by continuing the strike, with whatever of violence that involves.
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
Experience alone can give a final answer. The knowledge gained in a few years by a commission of the kind suggested would be worth more than volumes of mere assertions and contradictions.
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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