Q&A: Do you agree with Albert Einstein?

Question by Jason K: Do you agree with Albert Einstein?
“I am convinced there is only one way to eliminate (the) grave evils (of capitalism), namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals. In such an economy, the means of production are owned by society itself and are utilized in a planned fashion. A planned economy, which adjusts production to the needs of the community, would distribute the work to be done among all those able to work and would guarantee a livelihood to every man, woman, and child. The education of the individual, in addition to promoting his own innate abilities, would attempt to develop in him a sense of responsibility for his fellow-men in place of the glorification of power and success in our present society.”

Albert Einstein, “Why Socialism?” The Monthly Review, May 1949.
http://www.monthlyreview.org/598einstein.php

So, is Einstein right or wrong about Socialism? Why/Why not?

Best answer:

Answer by Gee Wally
Socialism in America thus far has been akin to a covered wagon train encircling and protecting those within.

Add your own answer in the comments!