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The Ludwig von Mises Institute

Advancing Austrian Economics, Liberty, and Peace

Advancing the scholarship of liberty in the tradition of the Austrian School

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About John Bates Clark

1847 - 1938

John Bates Clark, American economist, was the first to develop marginal productivity theory, using it to explore the distribution of income between returns to labor and capital in a market economy. His work influenced other economists, including Frank Knight. He taught at Columbia University. The prestigious John Bates Clark award is given every other year to an economist under age 40, in his honor. [The image comes from β€œThe Warren J. Samuels Portrait Collection at Duke University.”]

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