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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DogMan · 61-69, M

Capitalist vs. Socialist Economies: An Overview
Economic systems are structures that dictate how governments and societies create and distribute goods, services, and resources across a country. Two common economic systems are capitalism and socialism. In capitalist societies, the free market (and, therefore, supply and demand) determines production and pricing with no intervention of the government. In socialist economies, governments control production, distribution, and prices. The goal is to ensure that everyone has access to the same resources, such as education and healthcare.
KEY TAKEAWAYS
Capitalism and socialism are economic systems that countries use to manage their economic resources and regulate their means of production.
Capitalism is based on individual initiative and favors market mechanisms over government intervention.
Socialism is based on government planning and limitations on private control of resources.
Many economies tend to combine elements of both systems.
Capitalism has developed safety nets, while countries such as China and Vietnam may be edging toward full-fledged market economies.

NerdyPotato · M

@DogMan if you replace every occurrence of socialism with communism, that's spot on.