Albert Einstein (14 March 1879 – 18 April 1955) was a German-born theoretical physicist who developed the theory of relativity, one of the two pillars of modern physics (alongside quantum mechanics).:274 His work is also known for its influence on the philosophy of science. He is best known by the general public for his mass–energy equivalence formula E = mc2 (which has been dubbed "the world's most famous equation"). He received the 1921 Nobel Prize in Physics "for his services to theoretical physics, and especially for his discovery of the law of the photoelectric effect", a pivotal step in the evolution of quantum theory.Read about Albert Einstein in Wikipedia
It must be conceded that a theory has an important advantage if its basic concepts and fundamental hypotheses are 'close to experience,' and greater confidence in such a theory is certainly justified. There is less danger of going completely astray, particularly since it takes so much less time and effort to disprove such theories by experience. Yet more and more, as the depth of our knowledge increases, we must give up this advantage in our quest for logical simplicity in the foundations of physical theory.
Nevertheless, it is necessary to remember that a planned economy is not yet socialism. A planned economy as such may be accompanied by the complete enslavement of the individual. The achievement of socialism requires the solution of some extremely difficult socio-political problems: how is it possible, in view of the far-reaching centralisation of political and economic power, to prevent bureaucracy from becoming all-powerful and overweening? How can the rights of the individual be protected and therewith a democratic counterweight to the power of bureaucracy be assured?