“I am convinced there is only one way to eliminate these grave evils, 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. 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?”

— Albert Einstein

1940s, Why Socialism? (1949)

Adopted from Wikiquote. Last update June 3, 2021. History

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Albert Einstein 702

German-born physicist and founder of the theory of relativi… 1879–1955

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“It would be, however, a fatal mistake to establish an expensive system of education on the model of the advanced countries which would have little relevance to local needs and would be beyond the means of the national economy. It is necessary to evolve a system, through experimentation and trial and success, which would be within the means of the national economy.”

Prasanta Chandra Mahalanobis (1893–1972) Indian scientist

Quote, Prasanta Chandra Mahalanobis in Vigyanprasar

“Development cannot be left to complete improvisation. It is necessary to plan the construction of the new society. Planning is one of the laws of socialism, and without it, socialism would not exist. Without correct planning there can be no adequate guarantee that all the various sectors of a country's economy will combine harmoniously to take the leaps forward that our epoch demands.”

Ernesto Che Guevara (1928–1967) Argentine Marxist revolutionary

Afro-Asian Conference (1965)

“Aside from Yugoslavia, experiments with decentralization did not extend to planning innovation, the greatest weakness of the socialist economies. Even where markets were allowed to exert more influence over current production, the state was still responsible for planning the future. And state socialism provided only weak incentives for innovation. The Schumpeterian pressure that forced capitalist firms to innovate or die was not present in the planned economy.”

Barry Eichengreen (1952) Economist

Barry Eichengreen, The European economy since 1945 : coordinated capitalism and beyond, Ch. 5 : Eastern Europe and the Planned Economy

“It would be more realistic to think of all economic enterprise as a public service. Thought of in this perspective, a private economy is a contradiction in terms. Every economy is a public or social (not socialist) economy.”

Robert A. Dahl (1915–2014) American political scientist

After the Revolution? (1970; 1990), Ch. 4 : From Principles to Problems

“I know that some people in the U. S. associate the Nordic model with some sort of socialism… Therefore, I would like to make one thing clear. Denmark is far from a socialist planned economy. Denmark is a market economy… The Nordic model is an expanded welfare state which provides a high level of security to its citizens, but it is also a successful market economy with much freedom to pursue your dreams and live your life as you wish.”

Lars Løkke Rasmussen (1964) Danish politician

"Nordic Solutions and Challenges: A Danish Perspective" http://www.vox.com/2015/10/31/9650030/denmark-prime-minister-bernie-sanders (October 2015), speech to Harvard's Kennedy School of Government.
2010s, 2015

“The abolition of the market means not only that the consumers—that is all members of society—are robbed of virtually all choice of consumption and all influence over production; it also means that the information and communication are monopolized by the State, as they too need a vast material base in order to operate. The abolition of the market means, then, that both material and intellectual assets would be totally rationed. To say nothing of the inefficiency of production convincingly demonstrated in the history of communism, this economy requires an omnipotent police state. Briefly: the abolition of the market means a gulag society.”

Leszek Kolakowski (1927–2009) Philosopher, historian of ideas

"The Self-Poisoning of the Open Society"

“The spontaneous individual optimization that drives the theories with which I began is important, but it is not enough by itself. If spontaneous Coase‐style bargains, whether through laissez-faire or political bargaining and government, eliminated socially wasteful predation and obtained the institutions that are needed for a thriving market economy, then there would not be so many grossly inefficient and poverty-stricken societies.”

Mancur Olson (1932–1998) American economist

"Big Bills Left on the Sidewalk: Why Some Nations Are Rich, and Others Poor"

“There is today hardly any country in the world outside the communist bloc which does not have a mixed economy. In fact, even countries which call themselves socialist would object to theirs not being described as a mixed economy, for it would imply that it was a totalitarian one, while countries like Germany or Japan, usually thought of as having typically free enterprise economies, would do the same; for, otherwise, it would imply that theirs was a nineteenth century laissez-faire economy.”

J. R. D. Tata (1904–1993) Indian businessman

Address on 'Why a Mixed Economy?' to the Associated Chambers of Commerce and Industry of India, New Delhi, April 4, 1975.
Keynote: Excerpts from his speeches and chairman's statements to shareholders

“A dangerous tendency has shown itself of late among many of our personnel -- an unwillingness to share weal and woe with the masses, a concern for personal fame and gain. This is very bad. One way of overcoming it is to streamline our organizations in the course of our campaign to increase production and practice economy, and to transfer cadres to lower levels so that a considerable number will return to productive work. We must see to it that all our cadres and all our people constantly bear in mind that ours is a large socialist country but an economically backward and poor one, and that this is a very big contradiction. To make China prosperous and strong needs several decades of hard struggle, which means, among other things, pursuing the policy of building up our country through diligence and thrift, that is, practicing strict economy and fighting waste.”

Mao Zedong (1893–1976) Chairman of the Central Committee of the Communist Party of China

On the Correct Handling of Contradictions Among the People
Original: (zh-CN) 在我们的许多工作人员中间，现在滋长着一种不愿意和群众同甘苦，喜欢计较个人名利的危险倾向，这是很不好的。我们在增产节约运动中要求精简机关，下放干部，使相当大的一批干部回到生产中去，就是克服这种危险倾向的一个方法。要使全体干部和全体人民经常想到我国是一个社会主义的大国，但又是一个经济落后的穷国，这是一个很大的矛盾。要使我国富强起来，需要几十年艰苦奋斗的时间，其中包括执行厉行节约、反对浪费这样一个勤俭建国的方针。

“Economists of the modern school will no doubt protest that I have said nothing of the use of budget deficits or surpluses for the control of the economy in general. I doubt if such techniques would ever be appropriate in Hong Kong's exposed economic position; and I think they are certainly not appropriate at present, when in strict orthodoxy they would suggest the need to plan for a very substantial surplus "to take the heat out of the economy". Although we have in fact run substantial surpluses in recent years we have not done so with deflationary effect because we have not removed them from the economy but have left them inside the Colony's banking system to continue to work for the economy. $500 million or 55% of reserves are so held at present.”

John James Cowperthwaite (1915–2006) British colonial administrator

February 26, 1964, page 47.
Official Report of Proceedings of the Hong Kong Legislative Council

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