THE ECONOMIC THOUGHT OF J.B.CLARK: AN INTERPRETATION OF fTHE CLARK PROBLEM'

In this paper tour points have been claimed: (1) J.B.Clark's etransformationf was not 'a mere change of emphasis', but a radical change; (2)The early dark as a Christian socialist regarded a co-operative system as an ideal economic system, and it was not necessary to be within the capitalistic framework: (3) The later Clark's etransformation' to the justification of a capitalist competitive system was brought about by the establishment of his specific productivity theory of distribution. The formation process of this theory involves the confusion of an ethical approach and a theoretical approach at three levels: stating a problem, construction of the theory itself, and the social implication of it; (4) The later Clark as an antimonopoly policy propose recognized trusts without monopolistic power as being necessary to harmonize efficiency and justice. His final reformist position was well shown in his Social Justice without Socialism.