Let’s put this another way, open markets are inherently democratic when maintained properly, capitalism is inherently hierarchical with those holding the most money being all powerful. Confusing these things is a product of the previous paradigm.
Capitalism is, if you pardon the term, bankrupt. What it does we no longer need as the basis for a sustainable and equitable economic system. Open markets are the best means of establishing pricing for products and services while rewarding the work to provide those products and services.
As we know open markets require constant regulation to prevent monopoly or price fixing. These are means of regulating supply for scarce resources. These were best managed in a social democratic political system. Any authoritarian political system automatically distorts the market to protect political power.
Capitalism replaces goods and services with financial tokens that are manipulated by creating artificial scarcities. This becomes a ‘point scoring’ game in a closed system of capitalist operators. It ceases, then, to function as a economic system becoming only a means extort wealth from everyone in order to play the game.
Our planetary goal must be sustainable elimination of scarcity. This changes the paradigm as the need for open market resource allocation disappears yet providers of goods and services need to be rewarded. The implementation of Basic Universal Income with direct democratic determination of universally available goods and services with a smaller regulated open market for luxury goods, art, and personal services is the logical replacement.