Einstein on SOCIALISM



"The situation prevailing in an economy based on the private ownership of capital is characterised by two main principles: first, means of production (capital) are privately owned and the owners dispose of them as they see fit;
second, the labor contract is free.

Of course, there is no such thing as a pure capitalist society in this sense. In particular it should be noted that the workers, through long and bitter political struggles, have succeeded in securing a somewhat improved form of the of the 'free labor contract' for certain categories of workers. But taken as a whole, the present day economy does not differ much from pure capitalism.

Production is carried on for profit, not for use. There is no provision that all those able and willing to work will always be in a position to find employment; an 'army of unemployed' always exists. The worker us always in fear of losing his job. Technological progress frequently results in more unemployment rather than easing the burden of work for all. The profit motive, in conjunction with competition with competition among capitalists, is responsible for an instabilitiy in the accumulation and utilisation of capital which leads to increasingly severe depressions. Unlimited competition leads to a huge waste of labor and to a crippling of the social consciousness of individuals.

This crippling of individuals I consider the worst evil of capitalism. Our whole educational system suffers from this evil. An exaggerated system suffers from this evil. An exaggerated competitive attitude is inculcated into the student who is trained to worship acquisitive success as a preparation for his future career.

I am convinced that there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals"

Albert Einstein