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.
More Quotes from John Bates Clark:
In a recent decision of the Supreme Court, not made, however, by the full court, and concurred in by only four justices, it was held that the seller of a patented mimeograph could bind the purchaser to use only his ink in the machine, though the ink was not patented.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
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
We cannot afford to have any large section of the business world in doubt whether they have broken the laws or not, and we cannot let the laws become a dead letter through vagueness. In this view it is clear that an administrative commission can render invaluable service.
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 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
Readers Who Like This Quotation Also Like:
Based on Topics: Labor QuotesBased on Keywords: coercive, decree, pervert, tribunal
I made a written report which is still today in existence. I have a photocopy of it, and I am saying that in production this aircraft could perhaps substitute for three propeller- driven aircraft of the best existing type. This was my impression.
Adolf Galland
I don't believe in fate or destiny. I believe in various degrees of hatred, paranoia, and abandonment. However much of that gets heaped upon you doesn't matter - it's only a matter of how much you can take and what it does to you.
Henry Rollins
Our neighbor Canada has 2,200 troops serving in Afghanistan. Canada has also assumed responsibility for the Provincial Reconstruction Team in Kandahar, which was originally established by our own military.
Tom Lantos