There is no such thing as "real capitalism"; it's a broad and somewhat vague set of ideas with many possible implementations, none of which are more "real capitalism" than any other, although I'd argue that some implementations definitely better than others (and 90s Russia is a good example of that).
Capitalism is just an economic system with predominantly private ownership of the means of production. Whether a country's set of economically productive organizations are owned by shareholders via a stock exchange or by whomever was powerful enough to take control of them by corrupt means seems irrelevant, no?
If the people who own them aren’t willing to sell them for economically-rational prices, then you don’t have equilibrium capitalism; you have temporary capitalism as a reaction proceeding toward aristocracy / feudalism. When all the assets are illiquid, there’s no capitalism.
>Whether a country's set of economically productive organizations are owned by shareholders via a stock exchange or by whomever was powerful enough to take control of them by corrupt means seems irrelevant, no?
It is extremely relevant when you look at the outcomes.
