Clark J. Maurice

Clark J. Maurice books and biography


John Maurice Clark

John Maurice Clark (born 30 November 1884 in Northampton, Massachusetts; died 27 June 1963 in West Haven, Connecticut) was an American economist whose work combined the rigor of traditional economic analysis with an "institutionalist" attitude.


Academic career

Clark studied at Amherst College, graduating in 1905, and received his Ph.D. from Columbia University in 1910. He was an Instructor at Colorado College (1908-1910) and at Amherst College (1910-1915). In 1915 he joined the faculty of political economy at the University of Chicago. He accept a professorship at Columbia in 1926, where he remained until he retired in 1957.[1]


Throughout his career Clark was concerned with the dynamics of a market economy, or Competition as a Dynamic Process, the title of his last work. In Studies in the Economics of Overhead Costs, Clark developed his theory of the acceleration principle, that investment demand can fluctuate widely when consumer demand fluctuates; in this he anticipated key Keynesian theories of investment and business cycles.[2] [3] Clark is considered one of the founders of the theory of workable competition,[4] neither pure competition nor pure monopoly, a neglected Marshallian insight.[5]

With his theory of X-efficiency, Harvey Leibenstein demonstrated that the measurability of the market price of products in a monopoly is very difficult to obtain.

John Maurice Clark was the son of John Bates Clark, and shared his view of the importance of ethical and policy issues. Both father and son worked jointly on the revision of John Bates Clark's The Control of Trusts (1914), work continued by John Maurice in Social Control of Business (1926, revised in 1939).[6]

Clark was President of the American Economic Association in 1935, and was awarded the Francis A. Walker Medal in 1952.[7]


  1. ^ "John Maurice Clark",
  2. ^ Luca Fiorito "John Maurice Clark's Contribution to the Genesis of the Multiplier Analysis," University of Siena Dept. of Econ. Working Paper No. 322
  3. ^ The Aftalion-Clark Accelerator, New School
  4. ^ "Toward a Concept of Workable Competitition" American Economic Review (1940)
  5. ^ Joseph A. Schumpeter, History of Economic Analysis, New York, Oxford University Press, p. 975 (1976)
  6. ^ Anne Mayhew, review of John Maurice Clark: A Social Economics for the Twenty-First Century.
  7. ^ "In Memoriam: John Maurice Clark", Political Science Quarterly, Vol. 79, No. 3 (Sep., 1964)


  • Standards of Reasonableness in Local Freight Discriminations (1910)
  • Studies in the Economics of Overhead Costs Chicago, University of Chicago Press (1923) ISBN 0-312-16525-0
  • Social Control of Business (1926)
  • The Costs of the World War to the American People (1931)
  • Strategic Factors in Business Cycles (1934)
  • The Economics of Planning Public Works (1935)
  • Preface to Social Economics (1936)
  • An Alternative to Serfdom (1948)
  • The Ethical Basis of Economic Freedom (1955)
  • Competition as a Dynamic Process (1961)

yo cuz


  • Laurence Shute, John Maurice Clark: A Social Economics for the Twenty-First Century, London, Macmillan (1997) ISBN 0-312-16525-0
  • Charles A. Hickman, J. M. Clark, New York, Columbia University Press, (1975) ISBN 0231031874
  • Joseph Dorfman, The Economic Mind in American Civilization, (5 vols., (1946-1959)
  • T.W. Hutchison, A Review of Economic Doctrines, 1870-1929 (1953)

See also

History of economic thought

This article might use material from a Wikipedia article, which is released under the Creative Commons Attribution-Share-Alike License 3.0.

Sponsored Links

Readings In The Economics Of War

message of the week Message of The Week

Bookyards Youtube channel is now active. The link to our Youtube page is here.

If you have a website or blog and you want to link to Bookyards. You can use/get our embed code at the following link.

Follow us on Twitter and Facebook.

Bookyards Facebook, Tumblr, Blog, and Twitter sites are now active. For updates, free ebooks, and for commentary on current news and events on all things books, please go to the following:

Bookyards at Facebook

Bookyards at Twitter

Bookyards at Pinterest

Bookyards atTumblr

Bookyards blog

message of the daySponsored Links