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
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
Full employment is a socially hazardous goal. In effect, it aspires to restore through political expedients the pre-industrial state of toil that… — Louis O. Kelso Copy Share Image
The scarcity that afflicts the world is not the fault of either science or nature. The cause is defective economic institutions which… — 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 Image
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 Image
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 Image
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 Image
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 Image
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 Image
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 Image
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 Image
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 Image
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 Image
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 Image
