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Quote by Louis O. Kelso

“Everyone should own a piece of the wealth-producing capital of this country, but not everyone can be a manager. Or should be.”

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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“Full employment is a socially hazardous goal. In effect, it aspires to restore through political expedients the pre-industrial state of toil that science, engineering, technology and modern management are pledged to overcome.”

States Wisdom Political Politics Goal Technology Economy Modern Effects Overcoming Management Employment Liberalism Engineering Aspire Toil

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

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

“Had Marx understood the implications of the principles of capitalistic distribution which presented themselves to him as "appearances" only, he might have become a revolutionary capitalist instead of a revolutionary socialist.”

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Author:Louis O. Kelso

“Hard-core structural poverty has a counterpart at the apex: hard-core structural affluence.”

Hard Wisdom Politics Poverty Economy Core Liberalism Affluence Counterparts Hard Core Apex

Author:Louis O. Kelso

“I'm a secret nonmember of the establishment. This isn't a grubby kind of revolution I'm talking about. This isn't Che Guevara stuff. I don't want to live on berries in the woods - I don't think anybody does.”

Thinking Want Kind Doe Wisdom Politics Stuff Secret Talking Economy Revolution Woods Liberalism Establishment Berries

Author:Louis O. Kelso

“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.”

Ifs Mean Wisdom Politics Individual Goal Wealth Levels Economy Produce Labor Bases Income Liberalism Productive Input Affluent

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

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

“If we functionally define a capitalist household as one that receives at least half of the annual income it spends on consumption in the form of return on invested capital, less than 1 percent of United States households are capitalists.”

Ifs States Wisdom Form Politics United Half United States Economy Return Percent Income Liberalism Capitalist Household Consumption Annuals

Author:Louis O. Kelso

“It is the institutions of society, not parental genes, that bestow the blessings of ownership of productive capital.”

Wisdom Politics Economy Blessing Institutions Liberalism Productive Genes Ownership Parental

Author:Louis O. Kelso

“Labor is the source of subsistence, capital is the source of affluence. My idea is to make everyone a capitalist, and therefore, financially secure.”

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Author:Louis O. Kelso

“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

“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

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