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Louis O. Kelso

Louis O. Kelso Quotes

Economist

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Famous Louis O. Kelso Quotes

“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.”

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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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“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.”

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Author:Louis O. Kelso
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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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“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.”

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Book:The New Capitalists: A Proposal to Free Economic Growth from the Slavery of Savings
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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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