He's confusing market economies with capitalism.
Market economies can exist without capitalism.
A lot of people think that anything to do with socialism means a USSR style planned economy, but socialism can utilise markets. In fact, ironically, truly free markets can only exist under well regulated markets.
Capitalist corporations want as little regulation as possible so they can influence the markets and do other capitalist shenanigans, like selling at a loss until you've cornered the market and then hike prices up.
Capitalism is like the malignant form of market economies.