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Recommended Readings on Binary Economics

Binary economics offers a holistic and integrated framework for economic analysis, diagnosis and prescription that provides a moral basis and practical solutions to systemic problems that have not been addressed effectively by any of the mainstream and heterodox schools of economics.

For an accurate understanding of Binary Economics, the reader should explore the seminal writings of Louis O. Kelso, who first conceived of the idea.  Foremost among these are the two books co-authored in 1958 by Louis Kelso and Mortimer Adler (The Capitalist Manifesto and The New Capitalists), and later, Two-Factor Theory: The Economics of Reality, co-authored by Louis Kelso and Patricia Hetter.

A textbook by Robert H.A. Ashford and Rodney Shakespeare, entitled Binary Economics: The New Paradigm, provides the most in-depth, scholarly examination of the subject to date. (See CESJ President Norman Kurland’s review of Binary Economics: The New Paradigm.)

The following selected writings are available through the CESJ website:

“Q and A’s on Binary Economics”  by Richard Stutsman (revised by CESJ, 2014). An excellent source of basic information on Binary Economics — the socio-economic theory and market-based, expanded ownership model underlying the Just Third Way.

Ten Controversial Questions,” by Prof. Robert H.A. Ashford, raises questions that other schools of economics have failed to explain adequately or solve without violating free market principles on the one hand, and/or principles of economic and social justice on the other.

Binary Economics in a Nutshell,” by Norman G. Kurland, provides a brief explanation of binary economics and the principles that can help to start solving systemic problems such as poverty, boom-and-bust cycles, and the worsening concentration of wealth and income.

The Binary Economics of Louis Kelso: A Democratic Private Property System for Growth and Justice,” by Prof. Robert H.A. Ashford, gives a scholarly examination of binary economics.
ABSTRACT >>   |   FULL ARTICLE (pdf) >>

A New Look at Prices and Money: The Kelsonian Binary Model for Achieving Rapid Growth Without Inflation,” by Norman G. Kurland, presents the macro-economic logic of binary economics, and how it can restore balance in the economy between supply and demand so that Say’s Law of Markets would operate.
ABSTRACT >>   |   FULL ARTICLE (pdf) >>