Democracy and Economic Power

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9780819179081: Democracy and Economic Power
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Why do the rich get richer and the poor stay poor? How can we privatize publicly owned capital facilities so that employees and users own the stock? How can unions win "more" for their members without rendering American employees uncompetitive? What steps can the government take to make every American economically independent?
With detailed insight and provocative analysis, Democracy and Economic Power answers these questions and many more like them. In their popular book Two-Factor Theory, the Kelsos first introduced the Employee Stock Ownership Plan (ESOP) and began the process that enabled some 10 million employees to become stockholders. Democracy and Economic Power presents their economic, political, and financial blueprint for extending ESOPs to millions more Americans. With ESOPs they, too, can buy and pay for income-earning capital out of capital's own earnings instead of labor income.
Democracy and Economic Power is a must read for anyone concerned about the fate of individuals and the future of democratic institutions in our rapidly automating world. Originally published by Ballinger Publishing in 1986. Co-published with the Institute for the Study of Economic Systems.

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About the Author:

Louis O. Kelso is a Partner in Kelso & Company, a San Francisco and New York investment banking firm. Patricia Hetter Kelso is a Vice President at Kelso & Company and also Vice President of the Institute for the Study of Economic Systems.

From Library Journal:

Kelso devised ESOPs (Employee Stock Option Plans) in the 1950s to enable wage earners to become stockholders through leveraged buyouts, and now 10 million are covered. Here Kelso and his wife propose to extend the reach of ESOPs to public employees, professionals, the self-employed, and even home-owners, with seven additional financing techniques, all on the ESOP principle. they believe that broadly-based ESOPs would democratize capitalism, invigorate labor unions, raise productivity, enhance industry's competitiveness, while also alleviating poverty, unemployment, and inflation. These sweeping claims, however, are based more on assertion and faith than on economic analysis. The writing is prolix and turgid. Not recommended. Harry Frumerman, formerly with Economics Dept., Hunter Coll., CUNY
Copyright 1986 Reed Business Information, Inc.

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Other Popular Editions of the Same Title

9780819179098: Democracy and Economic Power

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ISBN 10:  0819179094 ISBN 13:  9780819179098
Publisher: University Press of America, 1990
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9780887301155: Democracy and Economic Power: Extending the Employee Stock Ownership Plan Revolution

Harper..., 1986
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