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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GeniUs · 56-60, M

I haven't viewed any of the replies already posted so forgive me if I go over old ground:

as the capital stock of society increases, the productivity of labor rises, as well as wages and standards of living

I would call this out as the important wages, those of the lower waged do not see these increases in anything like the ratio of the increase in 'economic progress' indeed the standard of living of most people will have fallen whilst those toward the top of the earning scale will have seen the majority of improved finances and standard of living.

that pursuing socialist and etatist (Statist?) 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

Absolutely wrong Socialism is a means of producing capital and using said capital to provide for the people which should be reflected by lower taxation. I'm afraid this 'von Mises' is pushing out propaganda to further the wealthy's grasp on society I could pick another couple of problems with his statement but I've provided enough for debate.

NativePortlander1970

@GeniUs Read my own comment