Louis O. Kelso
Louis Orth Kelso (born April 12, 1913 in Denver , † February 17, 1991 in San Francisco ) was an American economist . He developed the instrument of employee participation through shares ( ESOP ), which is particularly widespread in American companies.
Together with Mortimer Adler , he wrote several books that propagated the Employee Stock Ownership Plan for the democratization of capital ownership .
Kelso proposed a model of “universal capitalism” in which the ownership of production capital is as widely distributed as possible. According to Kelso, the ideal of full employment should be abandoned. Instead, corporate and inheritance taxes are to be abolished and prosperity to be achieved through ownership of shares.
In 1971 he founded Kelso & Company to advise companies on acquisitions involving ESOPs. It later developed into a private equity company.
Works
- Mortimer Adler, Louis O. Kelso: The Capitalist Manifesto , 1958
- Mortimer Adler, Louis O. Kelso: The New Capitalists: A Proposal to Free Economic Growth from the Slavery of Savings , 1961
- Louis O. Kelso, Patricia Hetter: Everyone has a right to capital: The Kelso theory . Econ Verlag , Düsseldorf 1971, ISBN 3-430-15320-4 .
Individual evidence
- ^ A b Alfonso A. Narvaez: Louis O. Kelso, Who Advocated Worker-Capitalism, Is Dead at 77 . In: The New York Times . February 21, 1991 ( online ).
- ^ The man who created 10 million capitalists: Louis O. Kelso
- ^ Robert O. Krueger: Review of How to Turn Eighty Million Workers into Capitalists on Borrowed Money . In: Journal of Economic Issues . tape 2 , no. 4 , October 1968, p. 452-454 ( PDF ).
| personal data | |
|---|---|
| SURNAME | Kelso, Louis O. |
| ALTERNATIVE NAMES | Kelso, Louis Orth (full name) |
| BRIEF DESCRIPTION | American economist |
| DATE OF BIRTH | April 12, 1913 |
| PLACE OF BIRTH | Denver |
| DATE OF DEATH | February 17, 1991 |
| Place of death | San Francisco |