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Showing posts with the label "planned economy"

Albert Einstein

From the archive This piece needs updating since it was written 70 years ago. Although genetics and AI are far from changing our biological structure, it is not anymore an impossibility.  Most people know Albert Einstein as a world-famous physicist. He was a socialist, too.
"Unfortunately, the revolution in the West did not materialise.  While the planned economy succeeded in transforming the lives of millions, Russia was isolated, surrounded and very quickly the regime itself degenerated into a totalitarian dictatorship and finally into a corrupt capitalist autocracy far from the aims of the revolution of 1917." The Russian Revolution — some economic notes and The Russian Revolution of October 1917 Should we regret the Russian Revolution?