The one important distinction between the two factors of production is that in a free society, ownership of the human factor, labor,… — Louis O. Kelso Copy Share Image
Technology has no function except to save labor. Yet how often do we hear that the purpose of new capital formation is… — Louis O. Kelso Copy Share Image
The idea that full employment without property ownership will solve the world's problems is utter nonsense. The Keynesian concept that the function… — Louis O. Kelso Copy Share Image
The rising productivity of labor is a myth, a statistical illusion created by measuring combined output in terms of labor input. — Louis O. Kelso Copy Share Image
Labor is the source of subsistence, capital is the source of affluence. My idea is to make everyone a capitalist, and therefore,… — Louis O. Kelso Copy Share Image
If capital produces most of the economy's wealth and income is distributed on the basis of productive input, the individual can hardly… — Louis O. Kelso Copy Share Image
Technology plows through history at an accelerating rate, shifting the burden of production off labor into the nonhuman factor because man uses… — Louis O. Kelso Copy Share Image
The owners of labor, on the other hand, are being taught, by the most powerful and well-publicized examples, that the highest rewards… — Louis O. Kelso Copy Share Image
Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor… — Louis O. Kelso Copy Share Image
Work is a means; it is not an end. And for any tasks that can be performed or eliminated by a capital… — Louis O. Kelso Copy Share Image
Private property works like circuitry in electronics, or piping in hydraulics. It conveys wages to the owners of labor power, as well… — Louis O. Kelso Copy Share Image
The purpose of finance is to enable business to acquire the ownership of capital instruments before it has saved the funds to… — Louis O. Kelso Copy Share Image
Two-factor economics makes it clear that our economic problem is not what one-factor (labor-centric) thinkers assert: an inequitable distribution of income. It… — Louis O. Kelso Copy Share Image
The primary cause of disorder and lawlessness today, as throughout history, is the poverty of the many in contrast to the affluence… — Louis O. Kelso Copy Share Image
Most of us owe instead of own. And the less the economy needs our labor, the less able we are to "save"… — Louis O. Kelso Copy Share Image
It is the institutions of society, not parental genes, that bestow the blessings of ownership of productive capital. — Louis O. Kelso Copy Share
The primary cause of disorder and lawlessness today, as throughout history, is the poverty of the many in contrast to the affluence of the… — Louis O. Kelso Copy Share
Money is not a part of the visible sector of the economy; people do not consume money. Money is not a physical factor of… — Louis O. Kelso Copy Share
Take Milton Friedman, he sits at his desk pontificating about such bunk as the monetary system being the answer to our problems. The monetary… — Louis O. Kelso Copy Share
They sense that there's a majority out there and that the emotions are all on the other side-if they can be heard. They think… — Louis O. Kelso Copy Share
Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor work and… — Louis O. Kelso Copy Share
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… — Louis O. Kelso Copy Share
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,… — Louis O. Kelso Copy Share
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… — Louis O. Kelso Copy Share
All this plan does is make everybody a capitalist. I know that the New York Stock Exchange says there are 25 million shareholders in… — Louis O. Kelso Copy Share
The schemes to set up blacks in cleaning stores, gas stations, hamburger stands and fried-chicken franchises, all the low-profit, low-capital enterprises, will rivet the… — Louis O. Kelso Copy Share
Technology has no function except to save labor. Yet how often do we hear that the purpose of new capital formation is to create… — Louis O. Kelso Copy Share
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… — Louis O. Kelso Copy Share
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… — Louis O. Kelso Copy Share
