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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Theyitis · 36-40, M

Destructionism, refers to policies that consume capital but don’t accumulate it.

Who doesn’t accumulate it?

DogMan · 61-69, M

@Theyitis Liberals! They hate capitalism. And they hate people that have capital.

They believe business owners should not have capital, they should either give it
all to their employees, or the government. Please read my comment to Daydeeo
above.

Theyitis · 36-40, M

@DogMan The kind of socialism liberals are advocating for uses capitalism as a basis. The socialism is what stops capitalism from turning into a game of Monopoly in which those that own the capital are able to exploit their workers and accumulate all the money while all the workers have no money with which to purchase the goods and services the owners are trying to sell.

NerdyPotato · M

@DogMan who exactly believes businesses shouldn't have any capital? 🤨

DogMan · 61-69, M

@Theyitis Capitalism creates jobs. Businesses need people. People with jobs
pay taxes, taxes take care of people that don't contribute.

DogMan · 61-69, M

@NerdyPotato Anti capitalists.

NerdyPotato · M

@DogMan I've heard anti-capitalists say that businesses shouldn't hoard billions or share millions with people who didn't do anything to generate the profit while paying the workers who made it all possible barely or not even a living wage. But I've never heard anyone say businesses shouldn't own anything.

And your explanation to Theyitis is how it is supposed to work, but in practice only a tiny fraction of the profit goes down that route.

DogMan · 61-69, M

@NerdyPotato Well, I do not own a huge corporation, just a small business that does
around 6 million in sales per year. All successful companies horde money ( capital )

I also pay my employees very well, some over 100k per year. And all love their job.

I agree that some businesses are greedy, and I do not supports monopolies.

If I owned a billion dollar company, I would have very rich employees, and I would
give millions to those I feel needed it.

NerdyPotato · M

@DogMan I appreciate that and the world would be a better place if every business was like that. But that's not what capitalism encourages.

samueltyler2 · 80-89, M

@DogMan good for you, but, if you look at the history of occupational medicine come, and of the economics, I think there are many more robber barons.

DogMan · 61-69, M

@samueltyler2 Yes, there are people that game the system. I would like to see the
mega rich do more good things with their money, instead of wasting it. That includes
the mega rich entertainers that love their opulence.

samueltyler2 · 80-89, M

@DogMan so we do agree on that. The spread between administrative and worker income has expanded dramatically. That sort of thing help spawn the horror of industrial violence and even the rise of communism.