Louis O. Kelso Quotes About Economy

Quotes about: Economy

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

  Louis O. Kelso

  Wisdom, Pie, Growth

• The Roman arena was technically a level playing field. But on one side were the lions with all the weapons, and on the other the Christians with all the blood. That's not a level playing field. That's a slaughter. And so is putting people into the economy without equipping them with capital, while equipping a tiny handful of people with hundreds and thousands of times more than they can use.

  Louis O. Kelso

  Christian, Blood, People

• Equality of economic opportunity, in the context of private property, means equality of opportunity for the millions of capital-less households of today to buy, pay for, and employ in their lives the non-human factor of production, capital.

  Louis O. Kelso

  Wisdom, Mean, Opportunity

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

  Louis O. Kelso

  Wisdom, Blessing, Politics

• 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.

  Louis O. Kelso

  Wisdom, Real, Answers

• 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.

  Louis O. Kelso

  Wisdom, Goal, Missing

• What have the masses been clamoring for? Jobs and welfare, and they got 'em. They've also got unions and managements like two armies converting the whole economy into a battleground with the customers as victims, except that the victims are also in the army. They think in battle terms by day and like customers at night.

  Louis O. Kelso

  Wisdom, Jobs, Army

• But would the young do any better under the same circumstances? Will they do any better when their turns come? The answer is that youth would not and cannot, given the financial and economic framework within which the elders are operating. While the moral convictions of individuals are important in the long run, it is institutions that determine the immediate course of events - particularly the institutions of finance.

  Louis O. Kelso

  Running, Wisdom, Long

  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

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

  Louis O. Kelso

  Country, Wisdom, Pieces

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

  Louis O. Kelso

  Wisdom, Ideas, Affluence

• 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?

  Louis O. Kelso

  Wisdom, Jobs, Technology

• 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.

  Louis O. Kelso

  Wisdom, Office, Political

  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

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

  Louis O. Kelso

  Wisdom, Majority, Toil

  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

• 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

• 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.

  Louis O. Kelso

  Wisdom, Technology, Engineering

  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

• 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, Way, Needs

• 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.

  Louis O. Kelso

  Wisdom, Men, Technology

• 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.

  Louis O. Kelso

  Wisdom, Dumb, Secret

• 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.

  Louis O. Kelso

  Wisdom, Suffering, Doe

• Work is a means; it is not an end. And for any tasks that can be performed or eliminated by a capital instrument, human labor is not the best means... Furthermore, we have science, engineering and management - the three disciplines - that really plan and control the production of goods and services, trying to eliminate labor. Who the hell is government to come along and try to create labor? The people who are producing wealth are trying to eliminate toil, while the politicians are trying to create it.

  Louis O. Kelso

  Mean, Government, Engineering

• 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

• 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.

  Louis O. Kelso

  Wisdom, Mean, Enabling

  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

• 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.

  Louis O. Kelso

  Wisdom, Poverty, Goes On

• 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.

  Louis O. Kelso

  Wisdom, Country, Men

• The way the system now works, credit is extended to those who don't need it and denied to those who are in desperate need of it.

  Louis O. Kelso

  Wisdom, Needs, Credit

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