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ONE OF THE FIRST AMERICAN MARGINALIST WORKS. CLARK, JOHN BATES. 1847-1938. The Distribution of ...
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New York, New York
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ONE OF THE FIRST AMERICAN MARGINALIST WORKS. CLARK, JOHN BATES. 1847-1938. The Distribution of Wealth. New York: The Macmillan Company, 1899. 8vo. Publisher's cloth, lettered in gilt. Custom cloth folding case. Provenance: Hon. Stanley C. Wisniewski (pencil inscription). A FINE BRIGHT COPY OF THIS CLASSIC AMERICAN WORK DEVELOPING THE MARGINALIST THEORY OF DISTRIBUTION. Clark provides a comprehensive and detailed statement of the marginal productivity theory of distribution developed in a series of pathbreaking articles approximately concurrent with the efforts of Wicksteed, Wicksell and others. His central insight was that under perfectly competitive conditions every productive factor (land, labor or capital) is rewarded in accordance with its specific marginal productivity. Furthermore, he was the first to generalize the principle of diminishing returns. Clark's Distribution of Wealth was 'really the first American work in pure theory ... It remains as one of the greatest works in pure theory yet produced in any language' (Bell, History of Economic Thought, p 524). For further information on this lot please visit Bonhams.com For further information about this lot please visit the lot listing
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ONE OF THE FIRST AMERICAN MARGINALIST WORKS. CLARK, JOHN BATES. 1847-1938. The Distribution of Wealth. New York: The Macmillan Company, 1899. 8vo. Publisher's cloth, lettered in gilt. Custom cloth folding case. Provenance: Hon. Stanley C. Wisniewski (pencil inscription). A FINE BRIGHT COPY OF THIS CLASSIC AMERICAN WORK DEVELOPING THE MARGINALIST THEORY OF DISTRIBUTION. Clark provides a comprehensive and detailed statement of the marginal productivity theory of distribution developed in a series of pathbreaking articles approximately concurrent with the efforts of Wicksteed, Wicksell and others. His central insight was that under perfectly competitive conditions every productive factor (land, labor or capital) is rewarded in accordance with its specific marginal productivity. Furthermore, he was the first to generalize the principle of diminishing returns. Clark's Distribution of Wealth was 'really the first American work in pure theory ... It remains as one of the greatest works in pure theory yet produced in any language' (Bell, History of Economic Thought, p 524). For further information on this lot please visit Bonhams.com For further information about this lot please visit the lot listing
Fine Books & Manuscripts
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580 Madison Avenue
New York
New York
10022
United States
...
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