Louis O. Kelso Quotes About Wisdom

Quotes about: Wisdom

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

  Louis O. Kelso

  Wisdom, Pie, Growth

• 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

• The sooner the world solves its economic problems, the sooner its inhabitants can afford leisure and peace and get on with the non-material things that are inherently important: the work of mind and spirit that is gloriously and uniquely human, the work that no machine can ever do.

  Louis O. Kelso

  Wisdom, Mind, Important

  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

• 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

• While no inference is intended here, it is worth noting, in connection with Milton Friedman's comment that "Kelso just turned Marx upside down," that it is not necessarily amiss to turn a fellow upside down if that in fact straightens out his thinking.

  Louis O. Kelso

  Wisdom, Thinking, Connections

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

  Louis O. Kelso

  Wisdom, Poverty, Affluence

• Our present predicament comes from the fact that running the economy on blood is no longer fashionable. We can't end this depression with another war.

  Louis O. Kelso

  Wisdom, Running, War

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

  Louis O. Kelso

  Wisdom, Firsts, Principles

• 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

• 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 owners of labor, on the other hand, are being taught, by the most powerful and well-publicized examples, that the highest rewards are not for production, but for the employment of organized power to take over a share of what others produce.

  Louis O. Kelso

  Wisdom, Powerful, Hands

  Louis O. Kelso, Mortimer Jerome Adler (1975). “The New Capitalists: A Proposal to Free Economic Growth from the Slavery of Savings”, Greenwood Publishing Group

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