A Quote by Louis O. Kelso

Technology has no function except to save labor. Yet how often do we hear that the purpose of new capital formation is to create jobs?

Louis O. Kelso

Quote Topics

Capital Create Except Formation Function Hear How Jobs Labor New Often Purpose Save Technology

Quote Author

Louis O. Kelso
Economist
April 12, 1913 - 1991

The creation of new capital always... releases... labor. Its actual effect [though] is not to make jobs scarce, but to free men's labor for other jobs.

Frederic Bastiat

Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.

Abraham Lincoln

I often hear that it's unfair that athletes should make what they make versus teachers, because who's more important. But that's not how the market works. Markets don't sign things. You know what you're worth is what somebody will pay you. It's not some arbitrary - the purpose of a company is not to create jobs and health care. That's not why they exist. And it's not to create fairness or any of that. That's not why people form businesses and try to sell a service or a product.

Rush Limbaugh

The way we're really going to grow the economy is to invest in people, to invest in innovation, to have the federal government put money in the kind of research that will create the new high-technology, bio-technology industries that will create the millions of new jobs.

Joe Lieberman

Capital is a result of labor, and is used by labor to assist it in further production. Labor is the active and initial force, and labor is therefore the employer of capital.

Henry George

In diminishing the role of the worker's body in the labor process, industrial technology has also tended to diminish the importance of the worker. In creating jobs that require less human effort, industrial technology has also been used to create jobs that require less human talent. In creating jobs that demand less of the body, industrial production has also tended to create jobs that give less to the body, in terms of opportunities to accrue knowledge on the production process.

Shoshana Zuboff

The purpose of finance is to enable business to acquire the ownership of capital instruments before it has saved the funds to buy and pay for them. The logic used by business in investing is things that will pay for themselves is not today available to the 95% born without capital. Most of us owe instead of own. And the less the economy needs our labor, the less able we are to "save" our way to capital ownership.

Louis O. Kelso

I cannot for the life of me understand why the American market keeps going up. Our economy has some real challenges. The infrastructure's falling apart. We're destroying jobs with technology. We are keeping the best and the brightest from around the world from coming to America to create new jobs and create new businesses. All of those things would give you pause to worry about the future.

Michael Bloomberg

The issue for me is American competitiveness, and how do we best create a climate here that allows international capital to come to these shores to create jobs.

Vito Fossella

It doesn't take Warren Buffett to realize that when companies don't know what new rules will look like, it affects their ability to commit capital and create new jobs.

John Sununu

The purpose of the capital formation presentations and roundtable discussions is to create a dialogue with business leaders, economic development organizations, business incubators, and community leaders to promote investment in Montana and support businesses as they start up and/or grow their existing operations.

Matt Rosendale

Access to capital is critical for small business success and crucial to our economic recovery. Without access to capital, many small companies are not able to maintain operations, let alone expand and create new jobs.

Sam Graves

The way we're really going to grow the economy is to invest in people, to invest in innovation, to have the federal government put money in the kind of research that will create the new high-technology, biotechnology industries that will create the millions of new jobs.

Joe Lieberman

We are coming to see that there should be no stifling of labor by capital, or of capital by labor; and also that there should be no stifling of labor by labor, or of capital by capital.

John D. Rockefeller

Work is a means; it is not an end. And for any tasks that can be performed or eliminated by a capital instrument, human labor is not the best means... Furthermore, we have science, engineering and management - the three disciplines - that really plan and control the production of goods and services, trying to eliminate labor. Who the hell is government to come along and try to create labor? The people who are producing wealth are trying to eliminate toil, while the politicians are trying to create it.

Louis O. Kelso

I know how to really work to get new jobs and to get exports that helped to create more new jobs.