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Perhaps, if an "Einstein" were to run the economy, state ownership of the means of production, and central planning, would be workable. The problem is that even
by ElectronCharge 12y ago
Perhaps, if an "Einstein" were to run the economy, state ownership of the means of production, and central planning, would be workable. The problem is that eventually the "Einstein" would perish or be replaced, and the lesser replacement would be a disaster.
There is nothing preferable in a few oligarches (or plutocrats) running everything as "the government", to capitalism. In fact, at least capitalism is somewhat distributed, and capitalists have a vested interest in pleasing their customers. Not so with government!
I'm a huge admirer of Einstein in general, but in this he was far outside his area of expertise!
- dalke 12y agoAren't you also outside far outside your expertise? Oligarchy is a political form. Capitalism is an economic form. They are neither incompatible nor mutually exclusive. Consider that China is often used an example of state capitalism, and Russia as an example of corporate oligarchy. Even North Korea has capitalists in all but name. See http://www.theguardian.com/world/2014/apr/29/north-korea-capitalism-new-business-elite http://www.theguardian.com/world/2014/apr/29/north-korea-cap... .