Home / Quotes / Quote by Louis O. Kelso

Quote by Louis O. Kelso

“Rather than providing him with economic opportunity, the Act of that name seems designed to make the poor man do penance all his life for the sin of being born into a non-capital-owning family... One searches it in vain for measure designed to provide economic opportunity to the capital owner. But nobody proposes to educate, train, or rehabilitate either him or his children, even when their "unemployment" is notorious.”

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

You May Also Like

“Take Milton Friedman, he sits at his desk pontificating about such bunk as the monetary system being the answer to our problems. The monetary system is a legal contrivance. Property, not money, is real wealth. It's physical, not legal.”

Real Problem Wisdom Politics Wealth Answers Economy Property Liberalism Desks Monetary Milton Monetary System Bunk Real Wealth

Author: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?”

Wisdom Jobs Purpose Politics Technology Economy Labor Function Liberalism Formation

Author:Louis O. Kelso

“Technology plows through history at an accelerating rate, shifting the burden of production off labor into the nonhuman factor because man uses his highest ingenuity to avoid servile labor.”

Men Use Wisdom Politics Technology Economy Highest Labor Rate Productions Burden Factors Liberalism Shifting Ingenuity

Author:Louis O. Kelso

“That which is inherently nonfinanceable is financed. That which is inherently financeable is not financed. And the illogic of poverty amidst eagerness and ability to produce plenty goes on.”

Wisdom Politics Ability Poverty Economy Produce Goes On Plenty Liberalism Eagerness

Author:Louis O. Kelso

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

Firsts Wisdom Politics Principles Economy Economic Produce Building Liberalism Symmetry Economic Power

Author:Louis O. Kelso

“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

Author:Louis O. Kelso

“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