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Louis O. Kelso

Louis O. Kelso Quotes

Economist

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Famous Louis O. Kelso Quotes

“Rather than providing him with economic opportunity, the Act of that name seems designed to make the poor man do penance all his life for the sin of being born into a non-capital-owning family... One searches it in vain for measure designed to provide economic opportunity to the capital owner. But nobody proposes to educate, train, or rehabilitate either him or his children, even when their "unemployment" is notorious.”

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Author:Louis O. Kelso
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“The political objective of universal capitalism is maximum individual autonomy, the separation of political power wielded by the holders of public office from economic power held by citizens, and the broad diffusion of privately owned economic power.”

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Book:Two-factor Theory: the Economics of Reality; how to Turn Eighty Million Workers Into Capitalists on Borrowed Money, and Other Proposals
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“The sooner the world solves its economic problems, the sooner its inhabitants can afford leisure and peace and get on with the non-material things that are inherently important: the work of mind and spirit that is gloriously and uniquely human, the work that no machine can ever do.”

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Book:Two-factor Theory: the Economics of Reality; how to Turn Eighty Million Workers Into Capitalists on Borrowed Money, and Other Proposals
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“Money is not a part of the visible sector of the economy; people do not consume money. Money is not a physical factor of production, but rather a yardstick for measuring economic input, economic outtake and the relative values of the real goods and services of the economic world. Money provides a method of measuring obligations, rights, powers and privileges. It provides a means whereby certain individuals can accumulate claims against others, or against the economy as a whole, or against many economies.”

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Book:Two-factor Theory: the Economics of Reality; how to Turn Eighty Million Workers Into Capitalists on Borrowed Money, and Other Proposals
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“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.”

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Book:Democracy and Economic Power: Extending the ESOP Revolution through Binary Economics
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“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.”

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Book:Two-factor Theory: the Economics of Reality; how to Turn Eighty Million Workers Into Capitalists on Borrowed Money, and Other Proposals
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