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Quote by Louis O. Kelso

“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?”

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Louis O. Kelso

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

“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.”

Wisdom Politics Grows Growth Economy Faster Liberalism Pie New Growth

Author:Louis O. Kelso

“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.”

Knows Stills Wisdom Politics Wealth Poor Secret Economy Rich Blind Definitions Dumb Liberalism Lazy Productive Deaf Halt Unemployed Uneducated

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.”

Quote by Louis O. Kelso

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