"Meritocracy works when the system has objective laws that provide equality for all." And that works by setting up conditions for fair competition which is the only available mechanism right now for merit to be the deciding factor.

But capitalism has seeds of its own destruction in it. It is the enlargement process, the coalescing of small businesses into large corporations, the cartelization and monopolization of markets which prevent the fair competition.

So, capitalism is not the value in itself, it is not a totem, but only has value as long as it serves its purpose of setting the stage for fair competition making meritocracy possible.

The state capitalism with large corporations controlling the markets, is no different from the state socialism with monopolistic state ministries (industrial conglomerates) controlling production of goods. Both are antithetic to free markets, to fair competition of producers of goods, and fair competition of ideas - the backbone of democracy.

Large corporations which engage in cartelization and monopolization of markets must be broken for the free competition to be preserved, as the only guarantor of democracy - the society of Freedom and rule of Law.