John Bates Clark Quotes
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.
Clark, John Bates. The Philosophy of Wealth: Economic Principles Newly Formulated. Ginn & Company, 1886.
Most conservatives of today would be surprised that this fundamental notion evolved from the liberals when conservatives were advocating imperial monarchies and powerful states in control of all their resources.
While generally true, Mises here again exaggerates his “proof” by selectively ignoring or being ignorant of counter-examples. The Roman Catholic Church is a classic counter-example where priests, monks, and others owned nothing as individuals, but produced some great science (eg Gregor Mendel), art (the illuminated texts of the middle ages), literature (St Thomas Aquinas, etc). The best counter example that was just evident in the last decade of Misis’ life is Communist Russia. Russian science was better than Fance and Germany and second only to the United States. The Russian ballet and orchestras were second to none. Great literature came out of the Soviet Union and the best of it complained about and attacked the Soviet system of the times. In general, Mises principle tended to be correct throughout history but not always as he dogmatically stated.
3rd Earl Russell of Kingston. Ironically he was regarded as a socialist by most people. His view of socialism however was what evolved as European Democratic Socialism and not the “dictatorship or the proletariat” type of Communist Socialism.
John Bates Clark was an American neoclassical economist. He was one of the pioneers of the marginalist revolution and opponent to the Institutionalist school of economics, and spent most of his career as professor at Columbia University.
