The Clark Medal

AAA

DEFINITION of 'The Clark Medal'

An informal name for the John Bates Clark Medal, which is a prize awarded annually by the American Economic Association to an economist working in the United States who is younger than 40 years old and has contributed outstanding research to the field of economics. The Clark Medal is one of the most prestigious awards in the field, and many John Bates Clark Medal winners have gone on to win the Nobel prize in economics.


Unlike the Nobel prize, however, the medal is never awarded to more than one economist in the same year.

INVESTOPEDIA EXPLAINS 'The Clark Medal'

From its inception in 1947 until 2007, the medal was awarded only every two years. Starting in 2009, the award became annual. Previous winners include Paul Samuelson, Milton Friedman, James Tobin, Kenneth Arrow, Robert Solow, Joseph Stiglitz, Paul Krugman, Zvi Griliches, Gary Becker, Daniel McFadden, A. Michael Spence and James Heckman. John Bates Clark was an American neoclassical economist who passed away March 21, 1938.



RELATED TERMS
  1. Keynesian Economics

    An economic theory of total spending in the economy and its effects ...
  2. Classical Economics

    Classical economics refers to work done by a group of economists ...
  3. Macroeconomics

    The field of economics that studies the behavior of the aggregate ...
  4. Microeconomics

    The branch of economics that analyzes the market behavior of ...
  5. Voodoo Economics

    A slanderous term used by George H. W. Bush in reference to President ...
  6. True Cost Economics

    An economic model that seeks to include the cost of negative ...
Related Articles
  1. Austrian School of Economics, von Hayek
    Economics

    The Austrian School Of Economics

    Investopedia explains: If you think economists are only concerned with numbers, check out the Austrian School, who are more like economic philosophers.
  2. thinkstock|istock
    Economics

    Understanding Supply-Side Economics

    Does the amount of goods and services produced set the pace for economic growth? Here are the arguments.
  3. Options & Futures

    Nobel Winners Are Economic Prizes

    Before you try to profit from their theories, you should learn about the creators themselves.
  4. Economics

    The Uncertainty Of Economics: Exploring The Dismal Science

    Learning about the study of economics can help you understand why you face contradictions in the market.
  5. Economics

    The History Of Economic Thought

    Economics is a vital part of every day life. Discover the major players who shaped its development.
  6. Economics

    A Practical Look At Microeconomics

    Learn how individual decision-making turns the gears of our economy.
  7. Options & Futures

    Explaining The World Through Macroeconomic Analysis

    From unemployment and inflation to government policy, learn what macroeconomics measures and how it affects everyone.
  8. Economics

    What's the difference between a market economy and a command economy?

    Set by supply and demand, a market economy operates through a price system; in a command economy, governments control the resources and determine activity.
  9. Fundamental Analysis

    How Influential Economists Changed Our History

    Find out how these five groundbreaking thinkers laid our financial foundations.
  10. Economics

    Examining The Phillips Curve

    This model depicts an inverse relationship between unemployment and wage inflation, but is it accurate?

You May Also Like

Hot Definitions
  1. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  2. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  3. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  4. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  5. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  6. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
Trading Center