History of economic thought
Anglo-American neoclassical

American economist John Bates Clark (1847–1938) promoted the marginalist revolution, publishing The Distribution of Wealth (1899), which proposed Clark's Law of Capitalism: "Given competition and homogeneous factors of production labor and capital, the repartition of the social product will be according to the productivity of the last physical input of units of labor and capital", also expressed as "What a social class gets is, under natural law, what it contributes to the general output of industry." In 1947 the John Bates Clark Medal was established in his honor.
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