Abstract
The application of the new marginalist theory to the theory of distribution was essentially the work of two men, J.B. Clark in the United States, and Philip Wicksteed in the United Kingdom, who coordinated the laws of distribution by a judicious use of Euler’s theorem. Since Clark’s analysis is logically preliminary to that of Wicksteed, this chapter starts with his account of the marginal productivity theory.
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© 2003 Gianni Vaggi and Peter Groenewegen
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Vaggi, G., Groenewegen, P. (2003). J.B. Clark and P.H. Wicksteed: the Development of Marginal Productivity Theory. In: A Concise History of Economic Thought. Palgrave Macmillan, London. https://doi.org/10.1057/9780230505803_23
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DOI: https://doi.org/10.1057/9780230505803_23
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-4039-8739-6
Online ISBN: 978-0-230-50580-3
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