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One of the pioneers of Neoclassical theory, John Bates Clark is best known for developing the "marginal productivity" concept and suggesting (but not solving) the "product exhaustion" thesis.

As one of few American economists of the Marginalist school, J.B.Clark was a great opponent of the then-reigning American Institutionalist School - and, as a consequence, became one of Thorstein Veblen's favorite targets. His son, John Maurice Clark, nonetheless did not follow his father's footsteps - instead, he became, in his turn, one of the leading Institutionalists of the first half of the twentieth century.

Information on J.B. Clark

Major works of John Bates Clark

• "The Origin of Interest, QJE "Real Issues Concerning Interest", QJE "The Law of Wages and Interest", 1890, Annals of AAPSS.
• "Distribution as Determined by a Law of Rent", 1891, QJE "The Future of Economic Theory", 1898, QJE.
• "The Modern Appeal to Legal Forces in Economic Life, 1894, AER The Distribution of Wealth, 1899.
• "Natural Divisions in Economic Theory", 1899, QJE. Resources on J.B.Clark