What happens in socialism if i buy means of production?

Let's say we're living in socialism and i decide to invest 50% of my income into means of production. Would you and at what point would you seize my "property". Let's say you don't: At what point are we going to arrive at capitalism again? Let's say you do: Aren't you encouraging consumption over investing and isn't this going to lead to overall lower living standards than otherwise?

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  • Janos Horanszky
    commented 2016-09-11 20:16:11 -0400
    This is a good question. Nobody would seize your property. It is natural that you would want to increase your capacity to produce or render services. What matters is how that means of production is put to work. You are going to work with it, or you are going to “hire” people to work with it and pay them “salary” and you keep the profits to yourself? Or you democratically will operate those means of production with others working there and distribute the proceeds democratically? Of course you don’t give into the enterprise for free the means of production but there are mechanisms to get you return on your investment. In a simplistic way this would be the main difference between a capitalist enterprise and a democratically managed enterprise.
  • Janos Horanszky
    tagged this with Important 2016-09-11 20:16:10 -0400
  • Anton Maier
    published this page in Ask Prof. Wolff 2016-09-06 11:51:52 -0400