No. If socialists think in terms of scarcity, they are also optimists. The reality is that people consume more than what the Earth can generate or sustain. Capitalist civilizations encourage such wasteful consumption. They urge you to buy the latest model gadget even if the old one would be perfectly working. In a socialist economy where the state owns the factors of production, the state would not buy new model gadgets if it knew the old ones were still functional.