Quotes by John Bates Clark - Page 1

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 / Economist
Fate
Individual
Individual Freedom
Liberty
Mean
One Thing
Persistence
Binds
Guaranteed
The One Thing
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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 / Economist
Men
Accepted
Adjustment
Continuing
Court
Gains
Violence
Gain
Involves
Refused
Strike
Whenever
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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 / Economist
Mere
Commission
Contradictions
Final Answer
Gained
Suggested
Volumes
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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 / Economist
Loyalty
Class
Favors
Feelings
Socialism
Among
Appeal
Attack
Classes
Excite
Far
Favor
Industrial
System
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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 / Economist
Practice
Studied
Accurately
Dishonest
Laborer
Result
Tends
Wage
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The limit is not as narrow as it might be. I do not claim for this action, as it now goes on, an ideal degree of efficiency. What I do claim is that this type of competition already reveals its nature and its ultimate power to hold seeming monopolies in check.
John Bates Clark / Economist
Action
Competition
Seeming
Type
Ultimate
Ultimate Power
Check
Claim
Degree
Ideal
Limit
Monopolies
Narrow
Reveals
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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.
John Bates Clark / Economist
Arbitrary
Conform
Decree
Distribution
Labor
Productivity
Ultimate
Ultimate Power
Wages
Coercive
Genuinely
Element
Introduce
Standard
Tribunal
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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 / Economist
Men
Income
Islands
Raises
Trading
Be True
Begins
Ceases
Clothing
Constitute
Fruits
Island
Owner
Literally
Monarch
Product
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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 / Economist
Court
Decision
Ink
Supreme
Supreme Court
Bind
Held
Seller
However
Justices
Patented
Recent
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The first issue to be settled is whether socialism has a right to exist Are its allegations concerning the present system true? Is industry proceeding on a principle of fraud? I wish to test the power of recent economic theory to give an exact answer to this question.
John Bates Clark / Economist
Allegations
Economic
Economic Theory
Fraud
Industry
Socialism
Theory
Answer
Concerning
Exist
Exact
Issue
Present
Principle
Question
Recent
Settled
Test
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The first issue to be settled is whether socialism has a right to exist. Are its allegations concerning the present system true? Is industry proceeding on a principle of fraud? I wish to test the power of recent economic theory to give an exact answer to this question.
John Bates Clark / Economist
Hype
Issues
Philosophy
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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 / Economist
Apologetic
Claims
Dull
Exposing
Negative
Position
Tolerate
Tone
Weak
Defending
Evils
Merely
Present
Negative Way
Perils
Plan
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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 / Economist
Administrative
Broken
Business World
Clear
Doubt
Invaluable
Law
Vagueness
Views
Business World View
Afford
Dead
Commission
Large
Letter
Render
Section
Service
We Cannot
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A laborer no longer makes whole articles. He receives raw materials, puts his touch on them, and passes them to another worker in the series. When the articles are quite finished they are carried out of sight by currents of commercial exchange. These currents are untraceable.
John Bates Clark / Economist
Articles
Currents
Finished
Materials
Raw Materials
Series
Sight
Touch
Worker
Carried
Commercial
Exchange
Laborer
Longer
Passes
Puts
Raw
Receives
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As the work progresses the careful reader will insert mental interrogation points here and there. He will find that his interest increases as the interrogation points become more frequent, and that it culminates where they are changed to marks of positive dissent. I venture to record the opinion that the value of the work reaches a maximum in a passage that is demonstrably incorrect.
John Bates Clark / Economist
Here And There
Progress
Records
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