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Louis O. Kelso

Louis O. Kelso Quotes

Economist

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Famous Louis O. Kelso Quotes

“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.”

IfsMeanWisdomPoliticsIndividualGoalWealthLevelsEconomyProduceLaborBasesIncomeLiberalismProductiveInputAffluent
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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“No Keynesian has ever proposed a measure designed to make the individual more productive; for that would require institutional means for enabling him to acquire ownership of the nonhuman factor of production: capital.”

MeanWisdomPoliticsIndividualEconomyProductionsFactorsLiberalismAcquireProductiveOwnershipEnablingFactors Of Production
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 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.”

WisdomPoliticalPoliticsIndividualEconomyEconomicCitizensOfficeCapitalismUniversalSeparationObjectivesLiberalismBroadsAutonomyMaximumPolitical PowerPublic OfficeEconomic PowerDiffusionIndividual Autonomy
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.”

PeopleWorldMeanRealWholeCertainValuesPoliticsIndividualEconomyRightsEconomicClaimsMethodPrivilegeProductionsObligationFactorsVisibleLiberalismGoodsRelativeInputMeasuringGoods And ServicesYardsticksRelative ValueFactors Of Production
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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“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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