--- title: "Meaning & Key Takeaway of: Private property works like circuitry in…" description: "\"Private property works like circuitry in electronics, or piping in hydraulics. It conveys wages to the owners of labor power, as well as the various fo..." image: "https://sms4smile.com/quotes/i/1f8/louis-o-kelso-12324_bankruptcy_private-property-works-like-circuitry-in_3000424.png" --- # Private property works like circuitry in electronics, or… ![“Private property works like circuitry in electronics, or piping in hydraulics. It conveys wages to the owners of labor power, as well as the various forms of nonwage property income to the owners of capital. In itself, it is no more responsible for maldistribution of purchasing power than the…” quote by Louis O. Kelso](https://sms4smile.com/quotes/i/1f8/louis-o-kelso-12324_bankruptcy_private-property-works-like-circuitry-in_3000424.png) [Download](https://sms4smile.com/quotes/i/1f8/louis-o-kelso-12324_bankruptcy_private-property-works-like-circuitry-in_3000424.png) [Open image](https://sms4smile.com/quotes/i/1f8/louis-o-kelso-12324_bankruptcy_private-property-works-like-circuitry-in_3000424.png) > “Private property works like circuitry in electronics, or piping in hydraulics. It conveys wages to the owners of labor power, as well as the various forms of nonwage property income to the owners of capital. In itself, it is no more responsible for maldistribution of purchasing power than the science of bookkeeping is responsible for bankruptcy.” [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Private property channels income like infrastructure, but it is not the cause of economic inequality. **In simple terms:** Property moves money, not inequality. Key Takeaway Focus on policies, not ownership structures. Themes economics property inequality Mood analytical critical Type theoretical policy When to use this quote - policy design - tax reform - labor negotiations - education on finance Key Concepts capitalism distribution wealth generation Questions to Reflect On - How can we redesign tax systems to address maldistribution? - What role do labor rights play in wealth equity? A Different Perspective Ownership alone does not determine wealth gaps. ★ ★ ★ ★ ★ No ratings yet [Bankruptcy](https://sms4smile.com/quotes/about/bankruptcy/) [Bookkeeping](https://sms4smile.com/quotes/about/bookkeeping/) [Bookkeeping Responsible](https://sms4smile.com/quotes/about/bookkeeping-responsible-4761042/) [Capital Responsible](https://sms4smile.com/quotes/about/capital-responsible-4761044/) [Economy](https://sms4smile.com/quotes/about/economy/) [Electronics](https://sms4smile.com/quotes/about/electronics/) [Form](https://sms4smile.com/quotes/about/form/) [Income](https://sms4smile.com/quotes/about/income/) [Income Owners](https://sms4smile.com/quotes/about/income-owners-4761043/) [Labor](https://sms4smile.com/quotes/about/labor/) [Liberalism](https://sms4smile.com/quotes/about/liberalism/) [Owners](https://sms4smile.com/quotes/about/owners/) [Owners Labor](https://sms4smile.com/quotes/about/owners-labor-1230589/) [Politics](https://sms4smile.com/quotes/about/politics/) [Private property](https://sms4smile.com/quotes/about/private-property/) [Property](https://sms4smile.com/quotes/about/property/) [Purchasing](https://sms4smile.com/quotes/about/purchasing/) [Purchasing power](https://sms4smile.com/quotes/about/purchasing-power/) [Responsible](https://sms4smile.com/quotes/about/responsible/) [Various](https://sms4smile.com/quotes/about/various/) [Wages](https://sms4smile.com/quotes/about/wages/) [Wells](https://sms4smile.com/quotes/about/wells/) [Wisdom](https://sms4smile.com/quotes/about/wisdom/) ## Related quotes > [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…](https://sms4smile.com/quotes/louis-o-kelso/the-owners-of-labor-on-the-other-hand-are-being-taught-by-the-most/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [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…](https://sms4smile.com/quotes/louis-o-kelso/when-capital-owners-are-few-the-private-property-conduits-of/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [For a scientist must indeed be freely imaginative and yet skeptical, creative and yet a critic. There is a sense in which he must…](https://sms4smile.com/quotes/anonymous/for-a-scientist-must-indeed-be-freely-imaginative-and-yet-skeptical/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Yet we can be sure that whatever fictions exist in Wall Street bookkeeping, the earth is a faithful scribe, a faultless calculator, a superb…](https://sms4smile.com/quotes/thomas-berry/yet-we-can-be-sure-that-whatever-fictions-exist-in-wall-street/) [Thomas Berry](https://sms4smile.com/quotes/author/thomas-berry/) > [Art has been hijacked by nonartists. It's been taken over by bookkeeping. The whole thing is so corrupt. But I suppose that's okay. For…](https://sms4smile.com/quotes/elaine-de-kooning/art-has-been-hijacked-by-nonartists-it-s-been-taken-over-by/) [Elaine de Kooning](https://sms4smile.com/quotes/author/elaine-de-kooning/) > [“The Dental Industry's leading bookkeeping firm . BUSINESS OWNER: Renata Velle”](https://sms4smile.com/quotes/renata-velle/the-dental-industry-s-leading-bookkeeping-firm-business-owner-renata/) [Renata Velle](https://sms4smile.com/quotes/author/renata-velle/) > [“The demand for good bookkeepers is at an all time high as more people make the leap into self-employment each year and need competent…](https://sms4smile.com/quotes/sylvia-jaumann/the-demand-for-good-bookkeepers-is-at-an-all-time-high-as-more-people/) [Sylvia Jaumann](https://sms4smile.com/quotes/author/sylvia-jaumann/) > [I do my taxes. I do my own bookkeeping. I pay rent.](https://sms4smile.com/quotes/amber-liu/i-do-my-taxes-i-do-my-own-bookkeeping-i-pay-rent/) [Amber Liu](https://sms4smile.com/quotes/author/amber-liu/) > [Markets are as old as the crossroads. But capitalism, as we know it, is only a few hundred years old, enabled by cooperative arrangements…](https://sms4smile.com/quotes/howard-rheingold/markets-are-as-old-as-the-crossroads-but-capitalism-as-we-know-it-is/) [Howard Rheingold](https://sms4smile.com/quotes/author/howard-rheingold/) > [“The fact that she had no bookkeeping experience bothered me not at all. I knew she would master the technical routines quickly. So I…](https://sms4smile.com/quotes/ray-kroc/the-fact-that-she-had-no-bookkeeping-experience-bothered-me-not-at/) [Ray Kroc](https://sms4smile.com/quotes/author/ray-kroc/) > [To devise an information processing system capable of getting along on its own - it must handle its own problems of programming, bookkeeping, communication…](https://sms4smile.com/quotes/cliff-shaw/to-devise-an-information-processing-system-capable-of-getting-along/) [Cliff Shaw](https://sms4smile.com/quotes/author/cliff-shaw/) > [Don't try to become a teacher overnight with psychological bookkeeping in your heart and educational theory in your head.](https://sms4smile.com/quotes/janusz-korczak/don-t-try-to-become-a-teacher-overnight-with-psychological/) [Janusz Korczak](https://sms4smile.com/quotes/author/janusz-korczak/) > [I get so tired of moral bookkeeping.](https://sms4smile.com/quotes/katherine-anne-porter/i-get-so-tired-of-moral-bookkeeping/) [Katherine Anne Porter](https://sms4smile.com/quotes/author/katherine-anne-porter/) > [“Lottie did everything the old fashioned way, including the bookkeeping, which was fine with me since I knew nothing about accounting software anyway. To…](https://sms4smile.com/quotes/kate-collins/lottie-did-everything-the-old-fashioned-way-including-the-bookkeeping/) [Kate Collins](https://sms4smile.com/quotes/author/kate-collins/) > [Creative accounting is an absolute curse to a civilization. One could argue that double-entry bookkeeping was one of history's great advances. Using accounting for…](https://sms4smile.com/quotes/charlie-munger/creative-accounting-is-an-absolute-curse-to-a-civilization-one-could/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) ## More by Louis O. Kelso > [It is the institutions of society, not parental genes, that bestow the blessings of ownership of productive capital.](https://sms4smile.com/quotes/louis-o-kelso/it-is-the-institutions-of-society-not-parental-genes-that-bestow-the/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [The primary cause of disorder and lawlessness today, as throughout history, is the poverty of the many in contrast to the affluence of the…](https://sms4smile.com/quotes/louis-o-kelso/the-primary-cause-of-disorder-and-lawlessness-today-as-throughout/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [Money is not a part of the visible sector of the economy; people do not consume money. Money is not a physical factor of…](https://sms4smile.com/quotes/louis-o-kelso/money-is-not-a-part-of-the-visible-sector-of-the-economy-people-do/) [Louis O. Kelso](https://sms4smile.com/quotes/author/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…](https://sms4smile.com/quotes/louis-o-kelso/take-milton-friedman-he-sits-at-his-desk-pontificating-about-such/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [There is no future for those who cannot or will not think.](https://sms4smile.com/quotes/louis-o-kelso/there-is-no-future-for-those-who-cannot-or-will-not-think/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [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…](https://sms4smile.com/quotes/louis-o-kelso/they-sense-that-there-s-a-majority-out-there-and-that-the-emotions/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor work and…](https://sms4smile.com/quotes/louis-o-kelso/thus-the-capital-owner-is-not-a-parasite-or-a-rentier-but-a-worker-a/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [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…](https://sms4smile.com/quotes/louis-o-kelso/when-capital-owners-are-few-the-private-property-conduits-of/) [Louis O. Kelso](https://sms4smile.com/quotes/author/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,…](https://sms4smile.com/quotes/louis-o-kelso/equality-of-economic-opportunity-in-the-context-of-private-property/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [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…](https://sms4smile.com/quotes/louis-o-kelso/if-capital-produces-most-of-the-economy-s-wealth-and-income-is/) [Louis O. Kelso](https://sms4smile.com/quotes/author/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…](https://sms4smile.com/quotes/louis-o-kelso/all-this-plan-does-is-make-everybody-a-capitalist-i-know-that-the-new/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [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…](https://sms4smile.com/quotes/louis-o-kelso/the-schemes-to-set-up-blacks-in-cleaning-stores-gas-stations/) [Louis O. Kelso](https://sms4smile.com/quotes/author/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…](https://sms4smile.com/quotes/louis-o-kelso/technology-has-no-function-except-to-save-labor-yet-how-often-do-we/) [Louis O. Kelso](https://sms4smile.com/quotes/author/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…](https://sms4smile.com/quotes/louis-o-kelso/there-is-more-to-life-than-material-well-being-who-would-claim-that/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [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…](https://sms4smile.com/quotes/louis-o-kelso/the-sooner-the-world-solves-its-economic-problems-the-sooner-its/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) [Explore all 55 Louis O. Kelso quotes ](https://sms4smile.com/quotes/author/louis-o-kelso/) ## More Bankruptcy quotes > [One's ability to enter into thousands of lawsuits as a tool for success, or to use bankruptcy to avoid paying your former employees and…](https://sms4smile.com/quotes/john-hickenlooper/one-s-ability-to-enter-into-thousands-of-lawsuits-as-a-tool-for/) [John Hickenlooper](https://sms4smile.com/quotes/author/john-hickenlooper/) > [And now, what has Anarchism to say to all this, this bankruptcy of republicanism, this modern empire that has grown up on the ruins…](https://sms4smile.com/quotes/voltairine-de-cleyre/and-now-what-has-anarchism-to-say-to-all-this-this-bankruptcy-of/) [Voltairine de Cleyre](https://sms4smile.com/quotes/author/voltairine-de-cleyre/) > [The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing…](https://sms4smile.com/quotes/ron-paul/the-moral-and-constitutional-obligations-of-our-representatives-in/) [Ron Paul](https://sms4smile.com/quotes/author/ron-paul/) > [“Bankruptcy-Seeking assistance on declaring and filing for bankruptcy then bankruptcy centre is the right place.Get professional advice and guidance before you file for bankruptcy.”](https://sms4smile.com/quotes/bankruptcy-centre/bankruptcy-seeking-assistance-on-declaring-and-filing-for-bankruptcy/) [Bankruptcy Centre](https://sms4smile.com/quotes/author/bankruptcy-centre/) > [A woman's whole life is a history of the affections. 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