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. KelsoHad 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. KelsoThe 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. KelsoLabor is the source of subsistence, capital is the source of affluence. My idea is to make everyone a capitalist, and therefore, financially secure.
Louis O. KelsoThe primary cause of disorder and lawlessness today, as throughout history, is the poverty of the many in contrast to the affluence of the few. But a new element of unrest has been added: a growing awareness that mass poverty is caused by defective institutions that prevent our harnessing the physical capabilities of science, engineering, management and labor to create general affluence; in other words, a growing awareness that poverty in any country that is or can be industrialized, is man's not nature's fault.
Louis O. KelsoThe poor lack money. They lack money because they do not know the secret of productive wealth. They know it is possible to be old, unemployed, uneducated, lazy - even halt, deaf, dumb, and blind-and still be excessively rich. But you have to be in on the secret, and the poor by definition are not.
Louis O. Kelso