Summary

Portrait of Albert Einstein Albert Einstein On the Development of Our Views Concerning the Nature and Constitution of Radiation

Why does the color of light, and not its intensity, determine whether a certain photochemical reaction occurs? Why is light of short wavelength generally more effective chemically than light of longer wavelength? Why is the speed of photoelectrically produced cathode rays independent of the light's intensity? Why are higher temperatures (and, thus, higher molecular energies) required to add a short-wavelength component to the radiation emitted by an object?
The oscillation theory, in its present formulation, gives no answers to these questions.
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Portrait of Albert Einstein Albert Einstein On the Development of Our Views Concerning the Nature and Constitution of Radiation

Today, however, we regard the ether hypothesis as obsolete. A large body of facts shows undeniably that light has certain fundamental properties that are better explained by Newton's emission theory of light than by the oscillation theory. For this reason, I believe that the next phase in the development of theoretical physics will bring us a theory of light that can be considered a fusion of the oscillation and emission theories.
Source: Wikisource

Portrait of Albert Einstein Albert Einstein On the Development of Our Views Concerning the Nature and Constitution of Radiation

Energy and mass seem to be just as equivalent as heat and mechanical energy.
Relativity theory has changed our views on light. Light is conceived not as a manifestation of the state of some hypothetical medium, but rather as an independent entity like matter. Moreover, this theory shares with the corpuscular theory of light the unusual property that light carries inertial mass from the emitting to the absorbing object. Relativity theory does not alter our conception of radiation's structure; in particular, it does not affect the distribution of energy in radiation-filled space.
Source: Wikisource

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