Louis O. Kelso
Louis Orth Kelso (December 4, 1913 – February 17, 1991) was a political economist in the classical tradition of Smith, Marx and Keynes. He was also a corporate and financial lawyer, author, lecturer and merchant banker who is chiefly remembered today as the inventor and pioneer of the Employee Stock Ownership Plan (ESOP), the prototype of the leveraged buyout invented to enable working people without savings to buy stock in their employer company and pay for it out of its future dividend yield.
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“I have done my fiddling so long under Vesuvius that I have almost forgotten to play, and can only wait for the eruption and think it long of coming. Literally no man has more wholly outlived life than I. And still it’s good fun.”
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