Louis O. Kelso - July 1983 Air date

Louis O. Kelso - July 1983 Air date
Louis O. Kelso (1913-1991 R.I.P.)) was a lawyer, investor and economic thinker who sought to find a way to preserve capitalism from the competition of communism as an alternative within the context of the early Cold War and is credited with the creation of the first Employee Stock Ownership Plan (ESOP).
His non-conformist "capitalism" might be compared to the peoples' capitalism ideas of G. K. Chesterton in which ownership is distributed to as many people as possible within the economy. Kelso developed the idea of Binary Economics to explain the need for expanded capital ownership in light of industrial production and the dominance of capital instead of labor.
In 1956 Louis Kelso invented the Employee Stock Ownership Plan (ESOP) to put his ideas into practice. The first ESOP which was used by the employees of Peninsula Newspapers Inc., based in Palo Alto, California, to acquire the newspaper chain. Since that time, ESOPs have been used by hundreds of companies, including Avis, Exxon Mobil, Standard Oil of California and Atlantic Richfield.
In 1958, Kelso collaborated with the philosopher Mortimer Adler to write The Capitalist Manifesto that is considered the primary source of his economic theories. Kelso and Adler followed this book with The New Capitalists (Random House, New York: 1961). Both books are readable online from the Kelso Institute.
Louis O. Kelso had significant discussions concerning a Basic Income Guarantee with Russell B. Long and Daniel Patrick Moynihan.[1]
Kelso has inspired many economic thinkers including James S. Albus, Robert Ashford and Norman Kurland.[2]
Kelso & Company
In 1971, Louis Kelso founded Kelso Bangert & Company as a merchant bank that would be both an advisor and investor in mergers and acquisitions involving Employee Stock Ownership Plans. The firm, which would later come to be known as Kelso & Company, would transition toward private equity investments in the late 1970s and would raise its first private equity fund in 1980. Today Kelso & Company is a $10 billion private equity firm and was among the 50 largest private equity firms globally.
[edit] Quote
"The Roman arena was technically a level playing field. But on one side were the lions with all the weapons, and on the other the Christians with all the blood. That's not a level playing field. That's a slaughter. And so is putting people into the economy without equipping them with capital, while equipping a tiny handful of people with hundreds and thousands of times more than they can use."
--Louis O. Kelso in Bill Moyers: A World of Ideas, (1990)

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[janosabel]

@paulagloria, ---> Kelso's work needs a group activists armed with the knowledge of how the establishment resists healthy evolutionary impulses so that our world can adapt and evolve without painful upheavals by overcoming that resistance.

-------------

PS knowledge, information, awareness, etc., is not enough. Knowledge is *not* "power" unless it is *effectively* applied.

Machiavelli, of all people, commented on how reluctant are people who know to commit themselves to applying that knowledge.

[janosabel]

@paulagloria, --->We have to know how an established, but failing system, resists all efforts to help it evolve and adapt. For that, the "thinking layer" of humanity must acquire the right historical perspective.

A relatively recent work (1999) to help us with that perspective is the result of 30 years of research publised under the title of "The Cancer Stage of Capitalism".--->

[janosabel]

@paulagloria, It is a pleasant surprise to hear that you have worked with Robert Ashford. I have worked with his co authors on "Binary Economics", Rodney Shakespeare.

Binary, aka two factor, economics is a third major paradigm (the natural resource based one and Social Credit, inspired by of Henry George and C H Douglas, respectively, being the two earlier ones) shift that has been suppressed by mainstream economists in the last hundred years---->

[janosabel]

@paulagloria, at the top right corner I have access to a personal area (when I am logged in) with a mail box. Can you see such a button when you are logged in?

You are right about application.

What happened to any follow up on the Ashford/Shakespeare book "Binary Economics---The New Paradigm"? The most important part of it (relevant to application) is section 7, page 438, "Proceeding with uncertainty". I interpret that section as a call for some kind of *class action*.

[paulagloria]

@janosabel where did you send the longer version? Have you heard my work with Robert Ashford? it is great knowledge but the trick is in applying it

[paulagloria]

@paulagloria wonderwhy this comment was removed

[janosabel]

@paulagloria, I have sent you a reply somewhat longer than 500 characters on the 26th of last month did you get it?

Binary Economics is about enabling people to be productive through owning income earning productive assets as well as through employment.

As technology advances, more and more income is earned by these assets compensating people for the decline in demand for traditional employment based methods of contributing to wealth creation. Everyone increasingly becomes a "capitalist".

[haarp35117]

epic

[paulagloria]

6:00 anyone know the "interesting cases" Mr Kelso is talking about in court then when property was more respected? There is no liberty without the ability to earn income.45:00 self insurance, is primitive. A modern way of risk management, commercially insured otherwise it builds capital ownership into the already rich where it is sterilized and is no use to the consumer economy and denies it to the poor who must suffer

[paulagloria]

@novoscapitalistas I wish you did not remove your comments.