Distribution of Wealth First Edition - John Bates Clark - Bauman Rare Books

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Distribution of Wealth

John Bates CLARK

Item#: 78143 We're sorry, this item has been sold

Distribution of Wealth

FIRST EDITION OF CLARK'S THE DISTRIBUTION OF WEALTH, 1899

CLARK, John Bates. The Distribution of Wealth. A Theory of Wages, Interest and Profits. New York: Macmillan, 1899. Large octavo, original tan cloth, top edge gilt.

First edition of this work on neoclassical microeconomics by American economist John Bates Clark.

Written by "the most distinguished American economist in the late 19th and early 20th century" (Pressman, 76), this work argues that "if everyone was paid the value of their marginal productivity, no one could legitimately complain about how much income they received" (Pressman, 74). It was one of the first major American works from the marginalist school, as well as "Clark's most important book… This book was the first major American work in the modern manner. It was systematic, and it showed a considerable advance upon the work of Clark's contemporaries in the degree of theoretical consistency it achieves. It contained, moreover, and important extension of the marginal principle (which was already fairly generally accepted by that time) into the field of production and distribution analysis" (Roll, 391). Virtually unique to Clark's work, however, was a preoccupation with the long-recognized fact a small number of workers would produce more units of product per worker than a greater number of workers in an identical situation and the resulting tendency for employers to exploit their workers. It was a finding that did not carry into the works of his peers. A few neat marginal ink notations.

Text generally fine, only slight wear to binding. A near-fine copy.

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