The scarcity that afflicts the world is not the fault of either science or nature. The cause is defective economic institutions which abort technology's affluence producing potential.
Louis O. KelsoWork is a means; it is not an end. And for any tasks that can be performed or eliminated by a capital instrument, human labor is not the best means... Furthermore, we have science, engineering and management - the three disciplines - that really plan and control the production of goods and services, trying to eliminate labor. Who the hell is government to come along and try to create labor? The people who are producing wealth are trying to eliminate toil, while the politicians are trying to create it.
Louis O. KelsoWhile no inference is intended here, it is worth noting, in connection with Milton Friedman's comment that "Kelso just turned Marx upside down," that it is not necessarily amiss to turn a fellow upside down if that in fact straightens out his thinking.
Louis O. KelsoThe sole missing link is the recognition that the acquisition of capital ownership by the millions is an indispensable goal. That is the turning point - our recognition of the proper goal.
Louis O. Kelso