The uneasy ghost of Marx must ...
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If one does not know to which port one is sailing, no wind is favorable.
What a distressing contrast there is between the radiant intelligence of the child and the feeble mentality of the average adult.
We are masters of the unsaid words, but slaves of those we let slip out.
I have always found that mercy bears richer fruits than strict justice.
A lie gets halfway around the world before the truth has a chance to get its pants on.
Quotes from the same author
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
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
The purpose of finance is to enable business to acquire the ownership of capital instruments before it has saved the funds to buy and pay for them. The logic used by business in investing is things that will pay for themselves is not today available to the 95% born without capital. 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
But would the young do any better under the same circumstances? Will they do any better when their turns come? The answer is that youth would not and cannot, given the financial and economic framework within which the elders are operating. While the moral convictions of individuals are important in the long run, it is institutions that determine the immediate course of events - particularly the institutions of finance.
Louis O. Kelso
No Keynesian has ever proposed a measure designed to make the individual more productive; for that would require institutional means for enabling him to acquire ownership of the nonhuman factor of production: capital.
Louis O. Kelso
