John Bates Clark


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.

BREAKING DOWN '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.

  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. Classical Economics

    Classical economics refers to work done by a group of economists ...
  4. Microeconomics

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

    The modern macroeconomic school of thought that evolved from ...
  6. Macroeconomics

    The field of economics that studies the behavior of the aggregate ...
Related Articles
  1. Fundamental Analysis

    How Influential Economists Changed Our History

    Find out how these five groundbreaking thinkers laid our financial foundations.
  2. 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. Investing Basics

    Economic Indicators That Do-It-Yourself Investors Should Know

    Understanding these investing tools will put the market in your hands.
  5. 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.
  6. Economics

    The History Of Economic Thought

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

    How Bloomberg Makes Billions (Hint: Not Just News)

    A look at the inner workings of one of Wall Street's most secretive (yet most important) private companies.
  9. Fundamental Analysis

    Calculating the Q Ratio

    The Q ratio measures the market value of a company compared to the replacement value of the firm’s assets.
  10. Entrepreneurship

    Elon Musk Success Story: Net Worth, Education & Top Quotes

    Read more about Elon Musk, the South African immigrant turned technology and engineering entrepreneur and inventor worth $13.6 billion.
  1. According to the neoclassical growth theory, what factors influence the growth of ...

    The neoclassical growth theory builds five major variables into its time-sensitive production formula. The first is total ... Read Full Answer >>
  2. What industries are typically considered infant industries?

    Infant industries are those considered vulnerable to established competitors. Some examples of infant industries include ... Read Full Answer >>
  3. How is game theory related to the Nash equilibrium?

    The Nash equilibrium is an important concept in game theory referring to a stable state in a game where no player can gain ... Read Full Answer >>
  4. How can individuals or businesses handle transaction costs for economic externalities?

    Externalities, also known as external economies, and transaction costs are two significant and evolving issues in contemporary ... Read Full Answer >>
  5. How can a change in fiscal policy have a multiplier effect on the economy?

    A change in fiscal policy has a multiplier effect on the economy because fiscal policy affects spending, consumption and ... Read Full Answer >>
  6. How do you calculate the marginal propensity to consume?

    The standard formula for calculating the marginal propensity to consume, or MPC, is marginal consumption divided by marginal ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Black Friday

    1. A day of stock market catastrophe. Originally, September 24, 1869, was deemed Black Friday. The crash was sparked by gold ...
  2. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  3. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  4. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  5. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
  6. Black Monday

    October 19, 1987, when the Dow Jones Industrial Average (DJIA) lost almost 22% in a single day. That event marked the beginning ...
Trading Center