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Quote by Louis O. Kelso

“The first principle of economic symmetry: building the economic power to consume simultaneously with the industrial power to produce.”

Quote by Louis O. Kelso

Author

Louis O. Kelso was an American economist born on April 12, 1913. He is renowned for his extensive research in the fields of capital and distribution theories. Kelso proposed the concepts of 'shared economy' and 'profit sharing,' which have had a profound impact on subsequent economic theories and practices. more

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“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.”

World Ideas Problem Wisdom Politics Wealth Economy Produce Concepts Labor Function Property Solve Employment Liberalism Nonsense Ownership Blindness Amplify Property Ownership

Author:Louis O. Kelso

“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.”

Humans Two Important Wisdom Politics Economy Labor Productions Factors Liberalism Distinction Ownership Free Society Factors Of Production

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“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.”

Men States Wisdom Faces Politics Economy Path Taken Revolution Opposites Liberalism Communist Capitalist Ownership Preventing

Author:Louis O. Kelso

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

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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.”

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

“The poor lack money. They lack money because they do not know the secret of productive wealth. They know it is possible to be old, unemployed, uneducated, lazy - even halt, deaf, dumb, and blind-and still be excessively rich. But you have to be in on the secret, and the poor by definition are not.”

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Author:Louis O. Kelso

“The primary cause of disorder and lawlessness today, as throughout history, is the poverty of the many in contrast to the affluence of the few. But a new element of unrest has been added: a growing awareness that mass poverty is caused by defective institutions that prevent our harnessing the physical capabilities of science, engineering, management and labor to create general affluence; in other words, a growing awareness that poverty in any country that is or can be industrialized, is man's not nature's fault.”

“The purpose of finance is to enable business to acquire the ownership of capital instruments before it has saved the funds to buy and pay for them. The logic used by business in investing is things that will pay for themselves is not today available to the 95% born without capital. 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.”

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Author:Louis O. Kelso

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

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“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.”

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Author:Louis O. Kelso