Insisting on a capital market in the end means insisting on this state of affairs.
Let's get concrete. How do you want capital to be allocated?
You said that you don't want it to be done via markets. As I already pointed out, socialism failed because companies could not go bankrupt and because people with a good idea couldn't set up their own company in the first place, i.e. there was no space for innovation.
So what's your idea, repeating the mistakes from really-existing socialism, cooperatives or what? What kind of non-market allocation mechanism for capital do you have in mind?