Louis O. Kelso Quotes About Economy

• The point is to make the pie grow faster and distribute the new growth more equitably.

  Louis O. Kelso

  Wisdom, Pie, Growth

• The Roman arena was technically a level playing field. But on one side were the lions with all the weapons, and on the other the Christians with all the blood. That's not a level playing field. That's a slaughter. And so is putting people into the economy without equipping them with capital, while equipping a tiny handful of people with hundreds and thousands of times more than they can use.

  Louis O. Kelso

  Christian, Blood, People

• Property in everyday life, is the right of control.

  Louis O. Kelso

  Everyday, Politics, Life Is

• If capital produces most of the economy's wealth and income is distributed on the basis of productive input, the individual can hardly reach his goal - an affluent level of income - solely by means of his labor.

  Louis O. Kelso

  Wisdom, Mean, Goal

  Louis O. Kelso, Patricia Hetter Kelso (1967). “Two-factor Theory: the Economics of Reality; how to Turn Eighty Million Workers Into Capitalists on Borrowed Money, and Other Proposals”, New York : Vintage Books

• Private property works like circuitry in electronics, or piping in hydraulics. It conveys wages to the owners of labor power, as well as the various forms of nonwage property income to the owners of capital. In itself, it is no more responsible for maldistribution of purchasing power than the science of bookkeeping is responsible for bankruptcy.

  Louis O. Kelso

  Wisdom, Wages, Electronics

• The one important distinction between the two factors of production is that in a free society, ownership of the human factor, labor, cannot be concentrated while ownership of the non-human factor, capital, can be.

  Louis O. Kelso

  Wisdom, Two, Important

• The scarcity that afflicts the world is not the fault of either science or nature. The cause is defective economic institutions which abort technology's affluence producing potential.

  Louis O. Kelso

  Wisdom, Technology, Politics

• Two-factor economics makes it clear that our economic problem is not what one-factor (labor-centric) thinkers assert: an inequitable distribution of income. It is an inequitable distribution of productive power, from which an unworkable distribution of income results.

  Louis O. Kelso

  Wisdom, Two, Income

• The owners of labor, on the other hand, are being taught, by the most powerful and well-publicized examples, that the highest rewards are not for production, but for the employment of organized power to take over a share of what others produce.

  Louis O. Kelso

  Wisdom, Powerful, Hands

  Louis O. Kelso, Mortimer Jerome Adler (1975). “The New Capitalists: A Proposal to Free Economic Growth from the Slavery of Savings”, Greenwood Publishing Group

• Lo único que hace este plan es convertir a todo el mundo en capitalista. Sé que la Bolsa de New York dice que hay 25 millones de accionistas en Estados Unidos, pero déjenme decirles algo: unos 15 millones de esas personas podrían ahorrar sus dividendos durante 10 años y quizá comprarse un traje nuevo. Eso no es lo que yo llamo capitalismo.

  Louis O. Kelso

  Wisdom, New York, Years

• If we functionally define a capitalist household as one that receives at least half of the annual income it spends on consumption in the form of return on invested capital, less than 1 percent of United States households are capitalists.

  Louis O. Kelso

  Wisdom, Half, Politics

• En lugar de proporcionarle una oportunidad económica, la ley de ese nombre parece diseñada para hacer que el pobre haga penitencia toda su vida por el pecado de haber nacido en una familia no propietaria de capital... Se busca en vano una medida destinada a dar una oportunidad económica al propietario de capital. Pero nadie propone educar, formar o rehabilitar ni a él ni a sus hijos, aunque su "paro" sea notorio.

  Louis O. Kelso

  Wisdom, Children, Opportunity

• The path the capitalist revolution will take faces in exactly the opposite direction from that taken by the communist revolution. It seeks to diffuse the private ownership of capital instead of abolishing it entirely. It seeks to make all men capitalists instead of preventing anyone from being a capitalist by making the State the only capitalist.

  Louis O. Kelso

  Wisdom, Taken, Men

• The schemes to set up blacks in cleaning stores, gas stations, hamburger stands and fried-chicken franchises, all the low-profit, low-capital enterprises, will rivet the Black man to the least remunerative section of the economy forever. The best such prospects offer are the dissatisfactions of blue-collar life. The big money ain't in pumping rationed gas in an Amoco station leased in your very own name, but in having stock in Exxon.

  Louis O. Kelso

  Wisdom, Men, Blue

• We have an economic policy that is just about 10,000 years out of date.

  Louis O. Kelso

  Wisdom, Years, Politics

• Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor work and capital work suggests the lines along which we could develop economic institutions capable of dealing with increasingly capital-intensive production, as our present institutions cannot.

  Louis O. Kelso

  Wisdom, Lines, Politics

  Louis O. Kelso, Patricia Hetter Kelso (1986). “Democracy and Economic Power: Extending the ESOP Revolution through Binary Economics”, p.16, BookBaby

• Equality of economic opportunity, in the context of private property, means equality of opportunity for the millions of capital-less households of today to buy, pay for, and employ in their lives the non-human factor of production, capital.

  Louis O. Kelso

  Wisdom, Mean, Opportunity

• It is the institutions of society, not parental genes, that bestow the blessings of ownership of productive capital.

  Louis O. Kelso

  Wisdom, Blessing, Politics

• Take Milton Friedman, he sits at his desk pontificating about such bunk as the monetary system being the answer to our problems. The monetary system is a legal contrivance. Property, not money, is real wealth. It's physical, not legal.

  Louis O. Kelso

  Wisdom, Real, Answers

• The sole missing link is the recognition that the acquisition of capital ownership by the millions is an indispensable goal. That is the turning point - our recognition of the proper goal.

  Louis O. Kelso

  Wisdom, Goal, Missing

• ¿Qué han estado pidiendo las masas? Empleo y bienestar, y los tienen. También tienen a los sindicatos y a los directivos como dos ejércitos que convierten toda la economía en un campo de batalla con los clientes como víctimas, salvo que las víctimas también están en el ejército. De día piensan en términos de batalla y de noche como clientes.

  Louis O. Kelso

  Wisdom, Jobs, Army

• But would the young do any better under the same circumstances? Will they do any better when their turns come? The answer is that youth would not and cannot, given the financial and economic framework within which the elders are operating. While the moral convictions of individuals are important in the long run, it is institutions that determine the immediate course of events - particularly the institutions of finance.

  Louis O. Kelso

  Running, Wisdom, Long

  Louis O. Kelso, Patricia Hetter Kelso (1967). “Two-factor Theory: the Economics of Reality; how to Turn Eighty Million Workers Into Capitalists on Borrowed Money, and Other Proposals”, New York : Vintage Books

• Everyone should own a piece of the wealth-producing capital of this country, but not everyone can be a manager. Or should be.

  Louis O. Kelso

  Country, Wisdom, Pieces

• Labor is the source of subsistence, capital is the source of affluence. My idea is to make everyone a capitalist, and therefore, financially secure.

  Louis O. Kelso

  Wisdom, Ideas, Affluence

• Technology has no function except to save labor. Yet how often do we hear that the purpose of new capital formation is to create jobs?

  Louis O. Kelso

  Wisdom, Jobs, Technology

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