Absence of property rights is certainly a detraction from the premise of Capitalism. However, the presence of a State is not required to protect property rights; folks have been protecting their property rights for tens of thousands of years before Jefferson conceived of our Patent/Copyright system and the notion of an Government-managed full time community police force was implemented.
"Property rights" haven't existed for thousands of year. Property has (to differing extents) but not the concept of "property rights."
Property rights require enforcement - that enforcement (outside of non-existent lone wolves - there is no meaningful rugged individualism) rests on the barrel of a gun which has the backing of a state (again, de facto or de jure, large or small). That state may be a single township or it may be a tribe or it may be a superpower. But it holds a monopoly on the use of force, aimed at the protection (fundamentally) of property rights.
Even in anarcho-capitalist fairytale land, as power devolves to the select few who rise to the top, they form de facto 'states' with their own forces to protect holdings.
What do you call Social Security? It's a [illegal-if-I-did-it Ponzi scheme implementation of a] nationalized, mandatory retirement plan. FDR without a shadow of a doubt instrumented and implemented the nationalization of a mandatory retirement savings program, and it's become one of the great Government Entitlement Debacles of our time.
Ponzi schemes are capitalism at its basest - dog eat dog, winner take all.
But it's a national retirement plan, nothing more. It's welfare capitalism - too many people lost their savings and livelihoods during the Depression, the SSA (like most of the New Deal) was created to offset hardships. It's a modification of the social darwinism of previous eras, but ultimately a reform designed to stave off the harshest effects of capitalism and make it acceptable to the masses.
That's why the New Deal dealt a serious blow to Bolshevik recruitment of the era. The masses didn't need a revolution to ensure a chance at continued existence.
s far as I can tell, in the current Social Security plan the Nanny State takes my property away from me without my permission and promises to return it at some shifting point in the future with no guarantee therein. You call that protecting my property rights or lubricating the wheels of Capitalism.
Yes. If you don't protect society's weakest, capitalism becomes far less palatable to those at the bottom. You need social welfare (and SS etc.) to hold crime down and keep those individuals involved in the economy.