Quotes by Wisdom The 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. Kelso politicalofficewisdom 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. Louis O. Kelso electronicswageswisdom Rather 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. Kelso wisdomopportunitychildren Take Milton Friedman, he sits at his desk pontificating about such bunk as the monetary system being the answer to our problems. The monetary system is a legal contrivance. Property, not money, is real wealth. It's physical, not legal. Louis O. Kelso realwisdomanswers Technology has no function except to save labor. Yet how often do we hear that the purpose of new capital formation is to create jobs? Louis O. Kelso technologywisdomjobs 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. Kelso technologywisdommen That 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. Kelso povertywisdomgoes-on 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. Louis O. Kelso wisdomnew-yorkyears Political power without economic power is sterile. Louis O. Kelso politicspoliticalwisdom Our present predicament comes from the fact that running the economy on blood is no longer fashionable. We can't end this depression with another war. Louis O. Kelso wisdomrunningwar 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. Louis O. Kelso engineeringtechnologywisdom Had 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. Kelso politicswisdommight Hard-core structural poverty has a counterpart at the apex: hard-core structural affluence. Louis O. Kelso affluencepovertywisdom Exhausting thought, And hiving wisdom with each studious year. Lord Byron exhaustingwisdomyears I'm a secret nonmember of the establishment. This isn't a grubby kind of revolution I'm talking about. This isn't Che Guevara stuff. I don't want to live on berries in the woods - I don't think anybody does. Louis O. Kelso wisdomtalkingthinking A great maxim of personal responsibility and mature achievement: "Do it yourself" is now the enthroned cliche for being occupied with nonessentials. Louis Kronenberger achievementresponsibilitywisdom It is the institutions of society, not parental genes, that bestow the blessings of ownership of productive capital. Louis O. Kelso politicswisdomblessing Most 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. Kelso wisdomwayneeds If we functionally define a capitalist household as one that receives at least half of the annual income it spends on consumption in the form of return on invested capital, less than 1 percent of United States households are capitalists. Louis O. Kelso politicshalfwisdom A wise man fights to win, but he is twice a fool who has no plan for possible defeat. Louis L'Amour fightingwisdomwise«115116117118119120121122123124125»
