Democracy and Economic Power: Extending the ESOP Revolution through Binary Economics

Powerful institutions do not change until compelled to. The catalyst of change is a crisis which threatens the society’s life.
Such a crisis now confronts the West.
Louis Kelso and co-author Mortimer J. Adler saw this crisis coming more than fifty years ago. In The Capitalist Manifesto (Random House, 1958) they warned that if we continue our ever more futile efforts to distribute through labor the income which is increasingly earned by the other income-producing factor — capital assets — we...