There's only one honest way to measure affluence; that's by comparing the capability of producing goods and services with the desire of people to enjoy them. It's a lousy, crooked trick to compare this society with China or some such place and then say we're affluent. It's a piece of intellectual crookery even to compare this economy with itself ten or twenty years ago. We should compare what we have with what we could have.
Louis O. KelsoThe 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.
Louis O. KelsoThe rising productivity of labor is a myth, a statistical illusion created by measuring combined output in terms of labor input.
Louis O. KelsoThe point is to make the pie grow faster and distribute the new growth more equitably.
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. KelsoThat which is inherently nonfinanceable is financed. That which is inherently financeable is not financed. And the illogic of poverty amidst eagerness and ability to produce plenty goes on.
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. Kelso