John Bates Clark Quotes


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.


Citations

Clark, John Bates, and John Maurice Clark. The Control of Trusts. Rewritten and enlarged ed., The Macmillan Company, 1912.

Related Quotes

Theodore Roosevelt had made many changes to control corporate rapaciousness and disregard for the law. Taft, his handpicked successor, wanted to roll back some of the regulations feeling that the problem of corporate corruption and venality had been solved. TR did not agree and the men’s close friendship dissolved over this issue—so much so that Roosevelt ran against Taft in the 1912 election.


Much reservation land was by law and policy divided amongst the Indians. The theory of this “Allotment System” was that if Indians owned land individually rather than communally, they had an asset which could be mortgaged, sold, rented and otherwise used as whites do their land assets. However, so many Indians had been cheated and swindled out of their land that Congress passed stringent laws regulating the manner and procedures for sale of Indians’ land. Many whites and some Indians complained that it was getting too cumbersome.


John Bates Clark
John Bates Clark
  • Born: January 26, 1847
  • Died: March 21, 1938
  • Nationality: American
  • Profession: Economist

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.