John Bates Clark

AAA

DEFINITION of 'John Bates Clark'

An American Neoclassical economist renowned for his development of the marginal productivity theory of distribution. John Bates Clark is best known for his works on marginal utility, a revolutionary principal in economics.

INVESTOPEDIA EXPLAINS 'John Bates Clark'

Born in 1847 in Rhode Island, Clark was a graduate of Amherst College and taught at Columbia University for nearly 30 years. He was also a former president of the American Economic Association (AEA). Clark died in 1938. The John Bates Clark Medal is named in his honor. The John Bates Clark Medal is a prize awarded each year by the AEA to an economist working in the United States who is younger than 40 and who has contributed outstanding research to the field of economics.

RELATED TERMS
  1. Keynesian Economics

    An economic theory of total spending in the economy and its effects ...
  2. The Clark Medal

    An informal name for the John Bates Clark Medal, which is a prize ...
  3. Green Economics

    A methodology of economics that supports the harmonious interaction ...
  4. New Keynesian Economics

    The modern macroeconomic school of thought that evolved from ...
  5. Classical Economics

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

    The field of economics that studies the behavior of the aggregate ...
Related Articles
  1. How Influential Economists Changed Our ...
    Fundamental Analysis

    How Influential Economists Changed Our ...

  2. Understanding Supply-Side Economics
    Economics

    Understanding Supply-Side Economics

  3. Nobel Winners Are Economic Prizes
    Options & Futures

    Nobel Winners Are Economic Prizes

  4. Economic Indicators That Do-It-Yourself ...
    Investing Basics

    Economic Indicators That Do-It-Yourself ...

comments powered by Disqus
Hot Definitions
  1. Passive ETF

    One of two types of exchange-traded funds (ETFs) available for investors. Passive ETFs are index funds that track a specific ...
  2. Walras' Law

    An economics law that suggests that the existence of excess supply in one market must be matched by excess demand in another ...
  3. Market Segmentation

    A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will ...
  4. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  5. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  6. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
Trading Center