Louis O. Kelso Quotes About Labor

• 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

• 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

• La causa principal del desorden y la anarquía hoy en día, como a lo largo de la historia, es la pobreza de muchos en contraste con la opulencia de unos pocos. Pero se ha añadido un nuevo elemento de malestar: la creciente conciencia de que la pobreza masiva está causada por instituciones defectuosas que nos impiden aprovechar las capacidades físicas de la ciencia, la ingeniería, la gestión y el trabajo para crear una afluencia general; en otras palabras, una creciente conciencia de que la pobreza en cualquier país que esté o pueda estar industrializado, es culpa del hombre y no de la naturaleza.

  Louis O. Kelso

  Sabiduría, País, Hombres

• 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

• La finalidad de las finanzas es permitir a las empresas adquirir la propiedad de instrumentos de capital antes de haber ahorrado los fondos para comprarlos y pagarlos. La lógica utilizada por las empresas a la hora de invertir en cosas que se pagarán por sí mismas no está hoy al alcance del 95% de los nacidos sin capital. La mayoría de nosotros debemos en lugar de poseer. Y cuanto menos necesita la economía nuestro trabajo, menos capaces somos de "ahorrar" para llegar a ser propietarios de capital.

  Louis O. Kelso

  Sabiduría, Inversión, Política

• Most of us owe instead of own. And the less the economy needs our labor, the less able we are to "save" our way to capital ownership.

  Louis O. Kelso

  Wisdom, Way, Needs

• The rising productivity of labor is a myth, a statistical illusion created by measuring combined output in terms of labor input.

  Louis O. Kelso

  Wisdom, Politics, Input

• 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

• 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

• 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

• Work is a means; it is not an end. And for any tasks that can be performed or eliminated by a capital instrument, human labor is not the best means... Furthermore, we have science, engineering and management - the three disciplines - that really plan and control the production of goods and services, trying to eliminate labor. Who the hell is government to come along and try to create labor? The people who are producing wealth are trying to eliminate toil, while the politicians are trying to create it.

  Louis O. Kelso

  Mean, Government, Engineering

• Technology plows through history at an accelerating rate, shifting the burden of production off labor into the nonhuman factor because man uses his highest ingenuity to avoid servile labor.

  Louis O. Kelso

  Wisdom, Men, Technology

• 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

• The idea that full employment without property ownership will solve the world's problems is utter nonsense. The Keynesian concept that the function of capital is merely to amplify labor, not independently produce wealth is simply blindness.

  Louis O. Kelso

  Wisdom, Ideas, Amplify

• 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

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