JOHN BATES CLARK

PROFESSOR OF POLITICAL ECONOMY IN COLUMBIA UNIVERSITY
AUTHOR OF "THE DISTRIBUTION OF WEALTH," "THE PHILOSOPHY OF WEALTH," "THE PROBLEM OF MONOPOLY," ETC.

New York
THE MACMILLAN COMPANY
1915

All rights reserved

Copyright, 1907,
By THE MACMILLAN COMPANY.

Set up and electrotyped. Published October, 1907. Reprinted July, 1909; July, 1915.