Nah, it just institutionalizes it and perpetuates it in a different form -- namely structural violence. It's oppressive and coercive in nature, ultimately used to protect the interests of those with property and further instantiate inequality.

You can't eliminate violence through violence. You have to meet people's basic needs. A society that coerces people to act a particular way -- especially in regards to meeting their basic needs -- through the threat of force could not have been built on freedom, or compassion, or mutual solidarity. It's unjust, imo