Quotes by Louis O. Kelso

Louis O. Kelso

All this plan does is make everybody a capitalist. I know that the New York Stock Exchange says there are 25 million shareholders in the United States, but let me tell you something: about 15 million of those people could save their dividends for 10 years and maybe buy a new suit. That’s not what I call capitalism.

New York

Wisdom

Years

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.

Long

Running

Wisdom

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.

Mean

Opportunity

Wisdom

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

Country

Pieces

Wisdom

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.

Engineering

Technology

Wisdom

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.

Might

Politics

Wisdom

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

Affluence

Poverty

Wisdom

I’m a secret nonmember of the establishment. This isn’t a grubby kind of revolution I’m talking about. This isn’t Che Guevara stuff. I don’t want to live on berries in the woods – I don’t think anybody does.

Talking

Thinking

Wisdom

If capital produces most of the economy’s wealth and income is distributed on the basis of productive input, the individual can hardly reach his goal – an affluent level of income – solely by means of his labor.

Goal

Mean

Wisdom

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.

Half

Politics

Wisdom

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Affluence

Amplify

Answers

Army

Blessing

Blood

Blue

Children

Choices

Christian

Connections

Country

Credit

Doe

Dumb

Electronics

Enabling

Engineering

Everyday

Firsts

Goal

Goes On

Government

Growth

Half

Hands

Ideas

Important

Income

Independent

Input

Investing

Jobs

Life Is

Lines

Links

Long

Majority

Mean

Men

Might

Mind

Missing

Needs

New York

Office

Opportunity

People

Pie

Pieces

The Future Blueprint

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Quotes by Louis O. Kelso

Louis O. Kelso

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.

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

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.

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.

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

I’m a secret nonmember of the establishment. This isn’t a grubby kind of revolution I’m talking about. This isn’t Che Guevara stuff. I don’t want to live on berries in the woods – I don’t think anybody does.

If capital produces most of the economy’s wealth and income is distributed on the basis of productive input, the individual can hardly reach his goal – an affluent level of income – solely by means of his labor.

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.

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Topics by Louis O. Kelso

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