The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Clark, John Bates (1847–1938)

  • Donald Dewey
Reference work entry


John Bates Clark, the first American economist to deserve and gain an international reputation, was born at Providence, Rhode Island, on 26 January 1847 into a modestly prosperous merchant family. His father’s struggle with tuberculosis prompted a move to Minneapolis in search of a better climate and later required Clark to discontinue his studies at Amherst (he had transferred from Brown after two years) in order to run the family business. The business involved selling a line of ploughs to receptive but credit-needy country storekeepers throughout Minnesota. Following his father’s death, the business was sold at a profit and Clark returned to Amherst, graduating with highest honours in 1872.


Adams, H. C. American Economic Association Antitrust policy Arbitration Böhm-Bawerk, E. von Capital accumulation Capital measurement Capital theory wages fund Clark, J. B. Clark, J. M. Ely, R. T. Factor shares George, H. German historical school Jevons, W. S. Johnson, A. S. Knies, K. G. A. Marginal utility principle Natural and actual values Neoclassical theory of distribution Trade unions Rent Social Darwinism Sraffa, P. Sumner, W. G. Universal measure of value Veblen, T 

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Donald Dewey
    • 1
  1. 1.