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"Why Socialism?" is an article written by Albert Einstein in May 1949 that appeared in the first issue of the socialist journal Monthly Review.[1] It addresses problems with capitalism, predatory economic competition, and growing wealth inequality. It highlights control of mass media by private capitalists making it difficult for citizens to arrive at objective conclusions, and political parties being influenced by wealthy financial backers resulting in an "oligarchy of private capital". Einstein concludes that these problems can only be corrected with a planned economy which maintains a strong democracy to protect the rights of individuals.[2]
- ^ Rowe, David E.; Schulmann, Robert, eds. (2007). "Soviet Russia, Political Economy, and Socialism, 1918–1952". Einstein on Politics: His Private Thoughts and Public Stands on Nationalism, Zionism, War, Peace, and the Bomb. Princeton University Press. p. 432. ISBN 978-0691120942. JSTOR j.ctt46n3rd. LCCN 2006100303.