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Quote by Louis O. Kelso

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

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 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.”

“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.”

Way Needs Wisdom Today Able Used Purpose Politics Born Pay Economy Labor Logic Instruments Investing Available Saved Finance Liberalism Acquire Fund Ownership

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.”

Wisdom Politics Term Economy Illusion Labor Myth Productivity Rising Liberalism Input Measuring Output

Author:Louis O. Kelso

“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.”

World Wisdom Politics Causes Technology Economy Economic Institutions Faults Liberalism Scarcity Affluence Defective

Author:Louis O. Kelso

“The schemes to set up blacks in cleaning stores, gas stations, hamburger stands and fried-chicken franchises, all the low-profit, low-capital enterprises, will rivet the Black man to the least remunerative section of the economy forever. The best such prospects offer are the dissatisfactions of blue-collar life. The big money ain't in pumping rationed gas in an Amoco station leased in your very own name, but in having stock in Exxon.”

“The sole missing link is the recognition that the acquisition of capital ownership by the millions is an indispensable goal. That is the turning point - our recognition of the proper goal.”

Wisdom Politics Goal Millions Economy Missing Recognition Liberalism Links Sole Ownership Indispensable Acquisition Turning Points

Author:Louis O. Kelso

“The totalitarian toil-state originates in the propertylessness of the majority.”

States Wisdom Politics Economy Majority Liberalism 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

“The uneasy ghost of Marx must suffer the torments of the damned at the truth glaring from the pages of history that one does not abolish property by transferring it to the state.”

Doe States Wisdom Suffering Politics Economy Pages Property Ghost Liberalism Torment Abolish Uneasy

Author:Louis O. Kelso