Essentials of Economic Theory as Applied to Modern Problems of Industry and Public Policy

Before he was a professor at Columbia University and a leading theorist of applied marginal utility, John Bates Clark wanted to be a minister. His field of choice proved to be economics, however, where in addition to developing a 'marginal productivity theory of distribution,' he pioneered the division between 'static' and 'dynamic' economic analysis. His works include The Philosophy of Wealth, in which he introduced ethical concerns to classical models, and The Distribution of Wealth, in which Clark removed his emphasis on reform and examined society with deductive economic theories.