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| Author: | Ashford, R. |
| Title: | Louis Kelso's binary economy |
| Journal: | Journal of Socio-Economics
1996 : VOL. 25:1, p. 1-54 |
| Index terms: | ECONOMICS ECONOMIC CONDITIONS |
| Language: | eng |
| Abstract: | Louis Kelso's binary economics offers a distinct economic paradigm for understanding growth, poverty, inflation , private property, and the necessary conditions for market efficiency in an industrial economy. It also proposes a concrete, democratic, private property system for achieving sustained growth and distributive justice on market principles. In essence, binary theory holds that capital has not only a productive, but also an independent (and very potent), distributive relationship to growth that is suppressed in a closed private property system. |
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