Democracy and Economic Power: Extending the Employee Stock Ownership Plan Revolution - Softcover

Kelso, Louis O.; Kelso, Patricia Hetter

Softcover

ISBN 10: 0819179094 ISBN 13: 9780819179098

Publisher: University Press of America, 1990

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? "Democracy and Economic Power" aims to answer these questions and many more like them. In their 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 labour income. In today's continuously evolving economy, everyone needs personal capital holdings to supplement and, in time, replace labour income. "Democracy and Economic Power" is a guide for anyone wanting to partake in this revolution, including public employees, professsionals, artists, teachers, the self-employed, and even home buyers. The Kelsos unveil seven new financing techniques based on the same financing logic as the already market-tested ESOP. The authors demonstrate how with these new techniques Americans can democratize capital ownership within the framework of our existing institutions and private property value system.

About this title

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.

Edition details

• Publisher: University Press of America
• Publication date: 1990
• Language: English
• ISBN 10: 0819179094
• ISBN 13: 9780819179098
• Binding: Paperback
• Number of pages: 210