The Employee Ownership Foundation/Louis O. Kelso Fellowships are awarded to outstanding scholars studying the topic of broadened ownership of capital in a democratic Photo of Louis O. Kelsosociety in the United States. Ph.D. candidates, postdoctoral scholars, or visiting professors in the areas of business/economics/labor studies/management, history, law, philosophy, political science, psychology, public policy, or sociology may apply. 

The Kelso Fellowships are supported by the Employee Ownership Foundation.

The general theme of the fellowship includes the study of the idea and practice and public policy of broadening the ownership of capital assets in society such as the Employee Stock Ownership Plan (ESOP), which broadens the ownership of corporations, as well as approaches whereby consumers may have capital ownership of enterprises and individual citizens may have access to opportunities for capital acquisition. The relevance of these and other related ideas to the concept of economic democracy and democratic capitalism can also be pursued. 

These ideas were explored in the writings of Louis O. Kelso. The fellowship would permit the scholars to conduct their own work and also associate with several faculty members at Rutgers engaged in this area of research and receive mentoring and support. The fellow will be part of the network facilitated by SMLR at Rutgers University, but is not required to be in residence at Rutgers.

The fellows may be supported at their home institution or may be in residence at Rutgers University with the period and length of residency varying between July 1 and June 30 of the academic year.  The fellows will receive stipends of $12,500 that can be used for research, travel, or living expenses. 

Mid-Year Fellows Workshop in Honor of Louis O. Kelso

The purpose of the annual workshop is to study broad-based forms of capital ownership and capital income such as employee stock ownership, equity compensation, profit sharing, gain sharing, and worker cooperatives in the corporation and approaches to broadened citizen capital ownership and dividend funds in the society in the United States. 

The workshop provides an opportunity for scholars to present research in progress, receive mutual mentoring and feedback, work on joint research projects and publications, and meet foundation officials and publishers interested in building asset wealth for citizens. The workshop convenes members of the Fellowship Program of the School of Management and Labor Relations (SMLR) at Rutgers University.

How to Apply

Applicants must submit the following information in writing by the deadline for applications for the fellowships:

  1. A statement of no more than 1,500 words describing their proposed research project including its current status and broader significance;
  2. A curriculum vitae; 
  3. Three letters of reference (included in sealed envelopes or submitted separately by email to;
  4. A preliminary budget if the request is for research expenses. 
  5. Address: 
    Search Committee, Kelso Fellowships
    Rutgers, The State University of New Jersey
    School of Management and Labor Relations
    94 Rockafeller Road
    Piscataway, NJ 08854

A number of fellowships will be offered this year.  Please submit your application for a fellowship by February 29, 2024 and include a detailed plan to carry out your research within the next academic year. Final decisions will be made on April 15, 2024. The fellowships will be awarded for the July 1, 2024 – June 30, 2025 academic year.

For more information or questions, please email