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About: The Capitalist Manifesto     Goto   Sponge   NotDistinct   Permalink

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The Capitalist Manifesto is a 1958 book by Louis O. Kelso, a lawyer-economist and Employee Stock Ownership Plan (ESOP) inventor, and Mortimer J. Adler, a neo-Thomist philosopher. Kelso and Adler detail the three principles of economic justice, Participation, Distribution, and Limitation. These principles laid the foundation of what eventually came to be called “binary economics.” The term “binary” comes from attributing all production (participation) and just distribution of income to two factors, the human, classified as labor, and the non-human, classified as capital. In the Preface, Adler acknowledged Kelso as the originator of the theory.