The market tends to pay as a wage what an individual laborer is worth. But the case last studied suggests the question how accurately the law operates in practice. May it not be an honest law, but be so vitiated in its working as to give a dishonest result? John Bates Clark accuratelycasedishonest share on social
Experience alone can give a final answer. The knowledge gained in a few years by a commission of the kind suggested would be worth more than volumes of mere assertions and contradictions. John Bates Clark answerassertioncommission Change image and share on social
When we say that the persistence of competition is ensured by fate, we mean that individual freedom is so guaranteed. The one thing to which fate binds us is liberty. John Bates Clark bindcompetitionensure Change image and share on social
The limit is not as narrow as it might be. I do not claim for this action, as it now goes on, an ideal degree of efficiency. What I do claim is that this type of competition already reveals its nature and its ultimate power to hold seeming monopolies in check. John Bates Clark actioncheckclaim share on social
The first issue to be settled is whether socialism has a right to exist Are its allegations concerning the present system true? Is industry proceeding on a principle of fraud? I wish to test the power of recent economic theory to give an exact answer to this question. John Bates Clark allegationanswereconomic share on social
If the adjustment made by a court can be accepted or not, it will be refused whenever the men can gain more by continuing the strike, with whatever of violence that involves. John Bates Clark acceptadjustmentcontinue Change image and share on social
In a recent decision of the Supreme Court, not made, however, by the full court, and concurred in by only four justices, it was held that the seller of a patented mimeograph could bind the purchaser to use only his ink in the machine, though the ink was not patented. John Bates Clark bindconcurcourt share on social
A laborer no longer makes whole articles. He receives raw materials, puts his touch on them, and passes them to another worker in the series. When the articles are quite finished they are carried out of sight by currents of commercial exchange. These currents are untraceable. John Bates Clark articlecarrycommercial share on social
We cannot afford to have any large section of the business world in doubt whether they have broken the laws or not, and we cannot let the laws become a dead letter through vagueness. In this view it is clear that an administrative commission can render invaluable service. John Bates Clark administrativeaffordbreak share on social
Socialism appeals to better classes and has far more strength. Attack the state and you excite feelings of loyalty even among the disaffected classes; but attack the industrial system and appeal to the state, and you may have loyalty in your favor. John Bates Clark appealattackclass share on social
