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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 (1914). Specifically, it is argued and documented that Clark was important in this process in two ways. First, he exercised an “indirect” influence by discussing in academic journals and books problems concerning trusts, combinations, and the necessary measures to preserve the working of competitive markets. At least as importantly, if not more so, 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 which led to the passing of the FTC and Clayton Acts.

Suggested Citation

  • 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.
  • Handle: RePEc:uta:papers:2012_01
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    File URL: http://economics.utah.edu/research/publications/2012_01.pdf
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    References listed on IDEAS

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    1. Klebaner, Benjamin J., 1964. "Potential Competition and the American Antitrust Legislation of 1914," Business History Review, Cambridge University Press, vol. 38(02), pages 163-185, June.
    2. E. Dana Durand, 1914. "The Trust Legislation of 1914," The Quarterly Journal of Economics, Oxford University Press, vol. 29(1), pages 72-97.
    3. Fiorito, Luca & Henry, John F., 2007. "John Bates Clark on Trusts: New Light from the Columbia Archives," Journal of the History of Economic Thought, Cambridge University Press, vol. 29(02), pages 229-250, June.
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    Keywords

    B15; B31 JEL Classification:;

    JEL classification:

    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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