Preview of guests for week of
Monday
March 1,2010:
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For details of program airings see bottom of
page
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Monday March 1,
Click
date for more information about guest(s)
GUEST:
(Originally aired: 02-20-84)
LOUIS O. KELSO
Lawyer
/ Economic Theorist / Investment Banker
Author (With Mortimer
Adler):
"The Capitalist Manifesto (1958)"
Louis O. Kelso and Patricia Hetter Kelso
estimates of the relative real inputs to
production in the American economy of Labor
(Physical and Intellectual) and Capital over
time assuming reasonably competitive markets.
So ingrained is the “ethic” of the “Labor Theory
of Value” that they thought it best to refer to
Capital Owners as “Capital Workers” in keeping
with their understanding that Capital
instruments do “Work” - as surely as the most
diligent human surrogate worker – and that
indeed the observable trend is for Capital
Instruments to do ever more of the Worlds
“Work”. The reflexive prevalent attitude of
equating “Economic” man with Essential Human
Values including the whole vast array of values
around the “Work Ethic” all contribute to
camouflage and maintain the fundamental
miss-match between the way goods and services
are produced and distributed and particularly
their trends projected into the future.
Cybernetic contributions (now almost
exponential) are only adding to the much longer
Historical trend. Represents US Economy but
applies to World trending. HHC
Chart of concentration of capital ownership in
the U.S. over time. The same general pattern
applies to virtually all economies of and the
World Economy as a whole – Plutocratic ownership
and control of the real means of production.
With “The Labor Theory of Value” it only
worsens. HHC -
Below Quotes @
www.kelsoinstitute.org
"Conventional wisdom says there is only one way to earn a living,
and that's to work. Conventional wisdom
effectively treats capital (land, structures,
machines, and the like) as though it were a kind
of holy water that, sprinkled on or about labor,
makes it more productive. Thus, if you have a
thousand people working in a factory and you
increase the design and power of the machinery
so that one hundred men can now do what a
thousand did before, conventional wisdom says,
'Voila! The productivity of the labor has gone
up 900 percent!' I say 'hogwash.' All you've
done is wipe out 90 percent of the jobs, and
even the remaining ten percent are probably
sitting around pushing buttons. What the economy
needs is a way of legitimately getting capital
ownership into the hands of the people who now
don't have it."
(Louis O. Kelso, Journal Asset Based Finance,
1982)
"The trouble with today's techniques of finance is that they're
designed to make the rich richer. None are
designed to make the poor richer. That's why the
poor are poor. Because they're not rich."
(Louis O. Kelso, San Francisco Examiner &
Chronicle, 1978)
"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, Bill Moyers: A World of Ideas,
1990)
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Charles Handy citing the 1930 reference by Lord
John Maynard Keynes projecting “Technological
Unemployment” for the future world of his
grandchildren. That would be right about now as
technological advancement not only provides the
possible means for Humanity’s collective
“Transcendence of Scarcity” but poses the
problem to progressives by their commitment
(along with virtually all economic theorizing)
to the “Labor Theory of Value” currently
informing virtually all National Economies on
Planet Earth & the International System as
well. HHC
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"Practical men, who believe themselves to be
quite exempt from any intellectual influences,
are usually the slaves of some defunct economist
... It is ideas, not vested interests, which are
dangerous for good or evil"
The General Theory - 1936
"We are being afflicted with a
new disease of which some readers may not have
heard the name but of which they will hear a
great deal in the years to come - namely
technological unemployment"
Letter to our grandchildren - 1930
(Lord John Maynard Keynes)
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&
A.H. RASKIN
Reporter & Columnist for over 40 Years -
New York
Times
A Leading Expert on Labor Policy
Issues
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The program can
be viewed in its entirety by clicking the you
tube link below:
http://www.youtube.com/watch?v=prM_0kiuE2o
- LOUIS KELSO & A.H. RASKIN
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TuesdayMarch 9,
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date for more information about guest(s)
GUEST:
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Wednesday March
10, Click
date for more information about guest
GUEST:
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ThursdayMarch 11, Click
date for more information about guest(s)
GUEST:
_______________________________________
FridayMarch 12,
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date for more information about guest(s)
GUEST:
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