Quote of the day
What the insurance companies have done is to reverse the business so that the public at large insures the insurance companies.
John Bates Clark
Born: January 26, 1847
Died: March 21, 1938 (aged 91)
Bio: John Bates Clark was an American neoclassical economist. He was one of the pioneers of the marginalist revolution and opponent to the Institutionalist school of economics, and spent most of his career as professor at Columbia University.
Known for:
- The Philosophy Of Wealth (1886)
- Social justice without socialism (1914)
- Capital and Its Earnings (1888)
- The control of trusts (1901)
- The problem of monopoly