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If a man were living in isolation his income would be literally his product. Make him the monarch and owner of an island, and the fruits that he raises and the clothing that he makes constitute, in themselves, his income. This ceases to be true when trading begins.

John Bates Clark

Biography

Author Profession: Economist
Nationality: American
Born: January 26, 1847
Died: March 21, 1938

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