One point of great importance has been proved conclusively by the Russian events: namely, that the second assumption we have discussed—the assumption that the abolition of capitalist private property rights in the instruments of production is a sufficient condition, a sufficient guarantee, of the establishment of socialism—is false. These rights were abolished in Russia, in 1918. Socialism has not come about, nor even been approached. In fact, the abolition of these rights not merely did not guarantee socialism, but did not even keep power in the hands of the workers—who, today, have no power
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