Coverart for item
The Resource Democracy and economic power: : extending the ESOP revolution, Louis O. Kelso and Patricia Hetter Kelso

Democracy and economic power: : extending the ESOP revolution, Louis O. Kelso and Patricia Hetter Kelso

Label
Democracy and economic power: : extending the ESOP revolution
Title
Democracy and economic power:
Title remainder
extending the ESOP revolution
Statement of responsibility
Louis O. Kelso and Patricia Hetter Kelso
Creator
Contributor
Subject
Genre
Language
eng
Summary
Powerful institutions do not change until compelled to. The catalyst of change is a crisis which threatens the society's life. Such a crisis now confronts the West. Louis Kelso and co-author Mortimer J. Adler saw this crisis coming more than fifty years ago. In The Capitalist Manifesto (Random House, 1958) they warned that if we continue our ever more futile efforts to distribute through labor the income which is increasingly earned by the other income-producing factor - capital assets - we will disable the private property free market. And we will also consolidate economic and political power in a government already heavily centralized, thus endangering our constitutional freedoms and civil rights. We will continue to create a constantly growing tax burden to subsidize income and wealth distribution in order to stave off economic collapse. We will gradually liquidate private property in capital, thus socializing our economy, and we will have progressive and increasing inflation. We will gradually hollow out the legal and economic infrastructure, the invisible scaffolding that holds our society together. Finally, our society will implode. Is it too late to reverse our downward slide? To restore our economy and the democracy which it supports? Kelso and his co-author Patricia Hetter Kelso believe that our first step should be to broaden the ownership of productive capital - the physical things that produce wealth and income in the industrial society we have now. In Democracy and Economic Power: Extending the ESOP Revolution Through Binary Economics (University Press of America, 1986) they present eight detailed schemes for creating new capital ownership in the process of restoring economic growth. These schemes work to democratize economic power without resorting to "populist" redistribution of property. These financial proposals are all based on the logic of the Employee Stock Ownership Plan (ESOP), which Kelso invented in 1956 to enable employees to buy a California newspaper chain from its retiring owner. The ESOP was the original leveraged buyout, subsequently used with dazzling success by the already well-capitalized to concentrate ever more capital in those who cannot spend their capital earnings to buy the goods and services produced, thus closing the production-consumption gap which has grown wider and wider as technology becomes ever more efficient. Democracy and Economic Power explains the logic diagram of the private property, free market economy - and your part in it. It explains why your share of the income pie is shrinking. When all else fails, read the directions! Democracies notoriously postpone action until on the brink of a crisis. Then they are capable of an incredibly powerful response
Member of
Cataloging source
Midwest
http://bibfra.me/vocab/lite/collectionName
hoopla (Digital media service)
http://library.link/vocab/creatorName
Kelso, Louis O
Dewey number
338.6
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
Kelso, Patricia Hetter
http://library.link/vocab/subjectName
  • Industrial management
  • Employee ownership
  • Labor unions
  • Income distribution
Target audience
adult
Label
Democracy and economic power: : extending the ESOP revolution, Louis O. Kelso and Patricia Hetter Kelso
Link
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
MWT11735420
Dimensions
unknown
Extent
1 online resource.
Form of item
  • online
  • electronic
Governing access note
Digital content provided by hoopla
Isbn
9781483517551
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Publisher number
MWT11735420
Specific material designation
remote
Stock number
11735420
System details
Mode of access: World Wide Web
Label
Democracy and economic power: : extending the ESOP revolution, Louis O. Kelso and Patricia Hetter Kelso
Link
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
MWT11735420
Dimensions
unknown
Extent
1 online resource.
Form of item
  • online
  • electronic
Governing access note
Digital content provided by hoopla
Isbn
9781483517551
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Publisher number
MWT11735420
Specific material designation
remote
Stock number
11735420
System details
Mode of access: World Wide Web

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