Louis O. Kelso Quotes about Politics

We have an economic policy that is just about 10,000 years out of date.

We have an economic policy that is just about 10,000 years out of date.

Wisdom, Years, Politics

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.

Louis O. Kelso

Wisdom, Investing, Politics

Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor work and capital work suggests the lines along which we could develop economic institutions capable of dealing with increasingly capital-intensive production, as our present institutions cannot.

Louis O. Kelso

Wisdom, Lines, Politics

Louis O. Kelso, Patricia Hetter Kelso (1986). “Democracy and Economic Power: Extending the ESOP Revolution through Binary Economics”, p.16, BookBaby

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.

Louis O. Kelso

Wisdom, Half, Politics

There is more to life than material well-being. Who would claim that the wholly wage-dependent family enjoys the dignity, the security, the range of choice and the autonomy (not to mention the leisure and freedom) of the family even partially supported by capital ownership?

Louis O. Kelso

Wisdom, Choices, Politics

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.

Louis O. Kelso

Wisdom, Technology, Politics

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

Louis O. Kelso

Wisdom, Politics, Input

Political power without economic power is sterile.

Louis O. Kelso

Wisdom, Political, Politics

Property in everyday life, is the right of control.

Louis O. Kelso

Everyday, Politics, Life Is

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.

Louis O. Kelso

Wisdom, Politics, Might

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

Louis O. Kelso

Wisdom, Blessing, Politics

When capital owners are few, the private-property conduits of necessity create vast savings reservoirs for those few. If there were many owners, the same conduits would broadly irrigate the economy with purchasing power.

Louis O. Kelso

Wisdom, Saving, Politics

Louis O. Kelso, Patricia Hetter Kelso (1967). “Two-factor Theory: the Economics of Reality; how to Turn Eighty Million Workers Into Capitalists on Borrowed Money, and Other Proposals”, New York : Vintage Books

Louis O. Kelso Quotes about Politics

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