Technology plows through history at an accelerating rate, shifting the burden of production off labor into the nonhuman factor because man uses his highest ingenuity to avoid servile labor.
Louis O. KelsoMost of us owe instead of own. And the less the economy needs our labor, the less able we are to "save" our way to capital ownership.
Louis O. KelsoRather than providing him with economic opportunity, the Act of that name seems designed to make the poor man do penance all his life for the sin of being born into a non-capital-owning family... One searches it in vain for measure designed to provide economic opportunity to the capital owner. But nobody proposes to educate, train, or rehabilitate either him or his children, even when their "unemployment" is notorious.
Louis O. KelsoFull 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.
Louis O. Kelso