Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor work and capital work suggests the lines along which we could develop economic institutions capable of dealing with increasingly capital-intensive production, as our present institutions cannot.

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.

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.

Full employment is a socially hazardous goal. In effect, it aspires to restore through political expedients the pre-industrial state of toil that science, engineering, technology and modern management are pledged to overcome.

Everyone should own a piece of the wealth-producing capital of this country, but not everyone can be a manager. Or should be.

The first principle of economic symmetry: building the economic power to consume simultaneously with the industrial power to produce.

The way the system now works, credit is extended to those who don't need it and denied to those who are in desperate need of it.