Grace Blakeley Says Capitalism Is No Longer a Free-Market System

British economic journalist Grace Blakeley argues that the foundational idea of capitalism as a free-market system has grown indefensible due to deepening state-corporate collusion.

Blakeley made the assessment during an interview with L’Humanité while visiting France for the translation of her 2024 book Vulture Capitalism, published locally as Rapaces by editions les Liens qui libèrent and Frustration magazine.

Over the past decade, the 33-year-old commentator has moved from working within the British Labour Party under Jeremy Corbyn to aligning with the Green Party led by Zack Polanski. Her current analysis targets the modern reality of state intervention that benefits economic elites.

“The idea that capitalism is a free-market system has become indefensible. I don’t think many people seriously believe it anymore. Capitalism no longer hides the fact that it is based on collusion between powerful monopolies and states,” Blakeley told L’Humanité.

Blakeley points to the economic policies in the United States as a primary example of this systemic shift away from open markets.

“Just look at what is happening in the United States. Donald Trump presents himself as a defender of the free market, but takes a stake in a given company, imposes customs duties, intervenes in the economy to support billionaires,” Blakeley told L’Humanité.

Left-wing movements across Western democracies struggle against the lasting individualist legacy of neoliberalism, which eroded mass organizations and trade unions.

“The problem we face on the left is the legacy of neoliberalism. We live in individualist societies. Our mass movements, political organizations, and trade unions have been dismantled,” Blakeley told L’Humanité.

As soon as one or two personalities stand out, the left exclaims: ‘Zohran Mamdani or Bernie Sanders are going to save us!’ That never works, because they come into contact with the capitalist state,” Blakeley told L’Humanité.

To counter this cycle, Blakeley advocates for long-term organization rather than reliance on individual electoral figures.

“The left must focus on building movements capable of maintaining popular pressure on the economy and, more generally, on society, through the peace movement or the environmental movement. We are witnessing the success of many left-wing leaders, which is great, but that is not enough,” Blakeley told L’Humanité.