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.

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?

The Roman arena was technically a level playing field. But on one side were the lions with all the weapons, and on the other the Christians with all the blood. That's not a level playing field. That's a slaughter. And so is putting people into the economy without equipping them with capital, while equipping a tiny handful of people with hundreds and thousands of times more than they can use.

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 conduits would broadly irrigate the economy with purchasing power.

Political power without economic power is sterile.

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.

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.