Center for Economic and Social Justice powers and profits of land and productive assets became concentrated within a tiny elite of private owners. To remedy the abuses of concentrated capital ownership, Marx and Engels in "The Communist Manifesto" (1848) declared, “[T]he theory of the Communists may be summed up in the single sentence: the abolition of private property.” In contrast, Kelso turned the socialist's central assumption around by asserting that private property, far from being the problem, is essential for creating a truly just free market global economy. An economically just economy is one in which every citizen can be a capital owner without taking property
Revolution of 1848 in Luxembourg belonged to the same social milieu: they were members of the same clubs and associations, and would meet in Masonic lodges. The different families of the bourgeoisie were all linked by intermarriage. The rest of the country, farmers, artisans, and workers, remained as excluded from political life as they had been before 1848: the Revolution changed little for them. Several of the achievements of the Revolution of 1848, including the Constitution itself, proved to be quite short-lived. William II died in 1849, to be succeeded by his rather more reactionary son, William III, who described the Constitution of 1848 as