Does Socialism equal Destructionism?

Destructionism, refers to policies that consume capital but do not accumulate it. It is the title of Part V of the seminal work Socialism. Since accumulation of capital is the basis for economic progress (as the capital stock of society increases, the productivity of labor rises, as well as wages and standards of living), Von Mises warned that pursuing socialist and etatist policies will eventually lead to the consumption and reliance on old capital, borrowed capital, or printed "capital" as these policies cannot create any new capital, instead only consuming the old

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daydeeo · 61-69, M

I don't du disagree with you, but I wonder, why or how does the accumulation of capital increase productivity? Because it is invested in more efficient means of production?

DogMan · 61-69, M

@daydeeo Hi Daydeeo. Having capital, protects everyone.
I have owned my business for the last 21 years.
During the 2008 recession, and the years after, I relied on the capital I built
up, in order to save my business, and keep my people employed. People that did not
run a conservative style business did not survive. I knew many in my city. People
that lived lavish lifestyles, instead of building capital for their business, did not have
the funds to keep it running. Many used credit, only to fail later, because they could
not keep up with the interest.

Capital saved me again during Covid. I was able to keep all my employees on
a full time salary, while reducing hours, because I pay myself a modest salary
and put the rest into capital. When I reach a certain point, I give nice bonuses
to everyone, for doing such a great job.

daydeeo · 61-69, M

@DogMan I heartily commend you, but that doesnt answer my question.

DogMan · 61-69, M

@daydeeo Are you are talking about increased productivity? You have to be capitalized
to be able to buy equipment, and hire more employees, in order to increase productivity.