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When Economics Faces the Economy: John Bates Clark and the 1914 Antitrust Legislation

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  • Luca Fiorito

Abstract

The aim of this paper is to analyze John Bates Clark's influence in the passing of the Clayton and Federal Trade Commission Acts of 1914. It is argued that Clark was important to the passage of these acts in two ways. First, he exercised an indirect influence by discussing in academic journals and books problems concerning trusts, combinations, and the measures necessary to preserve the working of competitive markets. At least as importantly, Clark took an active role in the reform movement, both contributing to draft proposals for the amendment of existing antitrust legislation and providing help and advice during the Congressional debates that led to the passage of the FTC and Clayton Acts.

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  • Luca Fiorito, 2013. "When Economics Faces the Economy: John Bates Clark and the 1914 Antitrust Legislation," Review of Political Economy, Taylor & Francis Journals, vol. 25(1), pages 139-163, January.
    • Handle: RePEc:taf:revpoe:v:25:y:2013:i:1:p:139-163
    DOI: 10.1080/09538259.2013.737129
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    References listed on IDEAS

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    1. van Hise, Charles Richard, 1912. "Concentration and Control: A Solution to the Trust Problem in the United States," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number vanhise1912.
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    Cited by:

    1. Thierry Kirat & Frédéric Marty, 2020. "The Late Emerging Consensus Among American Economists on Antitrust Laws in the Second New Deal (1935-1941) (Revised Version)," CIRANO Working Papers 2020s-46, CIRANO.
    2. Stephen Martin, 2018. "Behavioral antitrust," Chapters, in: Victor J. Tremblay & Elizabeth Schroeder & Carol Horton Tremblay (ed.), Handbook of Behavioral Industrial Organization, chapter 15, pages 404-454, Edward Elgar Publishing.
    3. Thierry Kirat & Frédéric Marty, 2021. "The late emerging consensus among American economists on antitrust laws in the 2nd New Deal (1935-1941)," Post-Print halshs-03261721, HAL.

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    2. Luca Fiorito, 2012. "When Economics Faces the Economy: John Bates Clark and the 1914 Antitrust Legislation," Working Paper Series, Department of Economics, University of Utah 2012_01, University of Utah, Department of Economics.

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