Democracy and economic power Book

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.

Author Biography: 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.