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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.
Louis O. Kelso
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Louis O. Kelso
Age: 77 †
Born: 1913
Born: April 12
Died: 1991
Died: February 17
Economist
Lawyer
Denver
Colorado
Louis Orth Kelso
Levels
Basis
Affluent
Economy
Bases
Input
Wisdom
Income
Solely
Politics
Reach
Produces
Goal
Labor
Liberalism
Individual
Level
Capital
Means
Produce
Hardly
Mean
Wealth
Productive
Distributed
More quotes by Louis O. Kelso
The totalitarian toil-state originates in the propertylessness of the majority.
Louis O. Kelso
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
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
There is no future for those who cannot or will not think.
Louis O. Kelso
Hard-core structural poverty has a counterpart at the apex: hard-core structural affluence.
Louis O. Kelso
The idea that full employment without property ownership will solve the world's problems is utter nonsense. The Keynesian concept that the function of capital is merely to amplify labor, not independently produce wealth is simply blindness.
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.
Louis O. Kelso
The one important distinction between the two factors of production is that in a free society, ownership of the human factor, labor, cannot be concentrated while ownership of the non-human factor, capital, can be.
Louis O. Kelso
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
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
The first principle of economic symmetry: building the economic power to consume simultaneously with the industrial power to produce.
Louis O. Kelso
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
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
We have an economic policy that is just about 10,000 years out of date.
Louis O. Kelso
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
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
Political power without economic power is sterile.
Louis O. Kelso
It is the institutions of society, not parental genes, that bestow the blessings of ownership of productive capital.
Louis O. Kelso
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
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
