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Thursday, March 27, 2003

New Economy From uncertain to falsevik economy

Kelso had discovered what the Bolsheviks had been arguing for years: that capitalism only made sense for the capitalists. What appears to be justice in the distribution of incomes is in fact gross injustice,'' Kelso wrote in The Capitalist Manifesto, the 1958 bestseller he co-authored with Adler. But unlike the socialists he abhorred, Kelso saw a remedy embedded within capitalism itself.
Fifty years later, Kelso's ideas have become commonplace. His economic theories provide the intellectual foundations of stock options, employee ownership plans, and 401(k) accounts. Today, over 43 million employees-some 30 percent of the American work force-own stock in the companies they work for. What Kelso never prophesied, though, is that when everyone becomes a capitalist, capitalism itself may stop working.

· Capitalism stops working [Boston]