John Maurice CLARK, economist. President, F. A. Walker Medal, American Economic Association, 1922, 1952.
CLARK, John Maurice was born in 1884.
Bachelor of Arts Amherst College, 1905. Master of Arts, Doctor of Philosophy Columbia University, 1906,1910.
Son of John Bates Clark and his successor in the search for an understanding of the dynamic elements in economics. Despite his thorough acquaintance with the techniques of abstract analysis, he chose to express his arguments in purely verbal terms. His interests ranged widely within economics and he published on the business
cycle (inventing the acceleration principle), economic costs of war, public works, the labour market and many other topics.
The chief problem to which he addressed himself was the implications of competition on welfare and public policy. He considered perfect competition both theoretically and practically unattainable and sought to distinguish it from a realistic concept of ‘workable competition’. Association Professor of Economics, Amherst, Massachusetts, 1910-1915.
Professor, University Chicago, 1915-1926. Professor of Economics, Columbia University, 1926-1957.
President, F. A. Walker Medal, American Economic Association, 1922, 1952.
Clark's contribution to the American series of the multi-volume Economic and Social History of the World War published by the Carnegie Endowment for International Peace covers the nature of fiscal outlays for the war, how they were handled by the federal, state and local governments and the effects of the war on manpower, agriculture and industry.
In the first half of this study, Clark analyzes the conceptions, growth and purposes of social control as well as the legal aspects of formal and informal institutions that serve as agencies of control.