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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Convivial · 26-30, F

The only problem with the above is that the capital is being accumulated in the hands of fewer and fewer people... What is it now, around 70 % of the world's capital is in the hands of around 1% of the population?

Doesn't seem either fair or the basis for growth

ImperialAerosolKidFromEP · 51-55, M

@Convivial I wonder how they calculate that though. I once used an on-line tool to calculate my percentile wealth, and it came back as something ridiculously high, like the top 0.05%, but I don't have the same cost of living as everyone else, so that was misleading.