In this fresh study of the career and theoretical work of John Bates Clark, the first American economist to achieve international standing, Henry demonstrates that the usual interpretations of Clark are flawed, and that Clark set out to develop a theory of distribution that would support then current political authority and property relationships. Contrary to the normal view, it is shown that there is less of a difference between Clark's early 'Christian Socialist' writings and the writings of his mature period, and that perceptions and concerns formulated in his early career carry over into his more theoretically advanced stage. Also, Clark's religious perceptions are shown to have influenced not only his early thoughts, but those contained in the writings of the later period that brought him to the attention of economists in England and the Continent. Throughout this book, Henry demonstrates the relationship between Clark's theoretical work and the larger social forces then at work which both promoted and constrained his thinking and his economics.

Who is John Bates Clark John Bates Clark was a neoclassical economist who came from the United States. A prominent figure in the marginalist revolution and an opponent of the Institutionalist school of economics, he spent the majority of his career as a professor at Columbia University. He was also a pioneer in the marginalist revolution. How you will benefit (I) Insights about the following: Chapter 1: John Bates Clark Chapter 2: Economics Chapter 3: Neoclassical economics Chapter 4: Piero Sraffa Chapter 5: Price Chapter 6: Marginalism Chapter 7: Classical economics Chapter 8: Maurice Dobb Chapter 9: John Maurice Clark Chapter 10: Herbert J. Davenport Chapter 11: Frank Fetter Chapter 12: History of economic thought Chapter 13: Schools of economic thought Chapter 14: Distribution (economics) Chapter 15: Principles of Economics (Marshall book) Chapter 16: Neoclassical synthesis Chapter 17: Luigi Pasinetti Chapter 18: Marginal utility Chapter 19: The Theory of Wages Chapter 20: Cambridge capital controversy Chapter 21: Marxian economics Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information about John Bates Clark.

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.

Most economic theory assumes a pure capitalism of perfect competition. This book is a penetrating critique of the rhetoric and practice of conventional economic theory. It explores how even in the United States—the most capitalist of countries—the market has always been subject to numerous constraints. Perelman examines the way in which these constraints have been defended by such figures as Henry Ford, J. P. Morgan, and Herbert Hoover, and were indeed essential to the expansion of U.S. capitalism. In the process, he rediscovers the critical element in conservative thought—the “forgotten traditions of railroad economics”—that has been lost in the neoliberal present. This important and original historical reconstruction points the way to a discipline of economics freed from the mythology of the market.