Democracy and Economic Power: Extending the ESOP Revolution

Kelso, Louis O., and Kelso, Patricia Hetter

ISBN 10: 0887301150 / ISBN 13: 9780887301155

Published by Ballinger Pub. Company, Cambridge, MA, 1986

About this Item

24 cm, 175, DJ worn, torn, and pieces missing. This book is divided into three parts: understanding economic democracy; getting there; and the Unions' new role.

Seller Inventory # 25959

Bibliographic Details

• Title: Democracy and Economic Power: Extending the ESOP Revolution
• Publisher: Ballinger Pub. Company, Cambridge, MA
• Publication Date: 1986
• Language: English
• ISBN 10: 0887301150
• ISBN 13: 9780887301155
• Binding: Hardcover
• Edition: First? Edition. First? Printing.
• Condition: very good, poor
• Seller catalogs:
  • Democracy
  • Economic Develop.
  • Technology
  • Capitalism

About this title

Synopsis

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.

Reviews

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.