Word: kelso
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Handicapping is no job for a sensitive man. Owners complain bitterly about "unfair" weights, but Trotter shrugs off such criticism with the impassivity of a baseball umpire. Fortnight ago, when he assigned 136 lbs.-heaviest handicap of his career-to the speedy, four-year-old gelding, Kelso, in the $112,800 Brooklyn Handicap, Trotter said calmly: "I expect complaints." None came-although Kelso had to spurt from behind to eke out a narrow, 1¼-length victory. "He's one of the great ones," said Handicapper Trotter after the race. "No question about it." Then Trotter added: "Of course...
...program-proposing articles are really disappointing: "Anatomy of a Victory" because it is almost inherently pointless as a post-election-mortem of Ohio, and "An Economic Alternative for the GOP" because, although potentially interesting enough, it only rambles tediously in sketchy recapitulation of the books of Louis Kelso and Mortimer Adler...
...decided it could never reform, and remanded it to the custody of the state. Result: tyranny. Marx's error, say K. & A., was his failure to see that the culprit was not the institution of private property itself, but undue concentration of capital in a few hands. The Kelso-Adler answer: decentralize capital, make everybody a "citizen-capitalist...
...this is apt to sound like pie-machine-in-the-sky, Kelso-Adler back up their ideas with concrete-and controversial -proposals. Among their suggestions: equity-sharing plans, distribution to stockholders of all corporate profits in the case of "mature" corporations, abolition of corporate income taxes and revision of personal income taxes, abolition of inheritance taxes. (At times, the program has the ring of "Capitalists of the world, unite. You have nothing to lose but your tax forms.") All capitalists-meaning, eventually, all citizens-would get a just return for their investments, limited only by another requirement of justice: that...
Indignity of Labor? Adler and Kelso expect economists to "clobber the book," and the possible objections are indeed strong. The scheme to diffuse capital might require more governmental control than the present pump-priming devices that K. & A. condemn. If the prescribed spreading of capital were more or less limited, would it give workers (except in theory) relatively more than they have today under high wage scales? Or, if the redistribution of capital were sizable enough to make a real difference, would there be enough capital concentration for new enterprise? Furthermore, the K. & A. vision of a coupon-clipping mass...