>That means that power and wealth gets concentrated into hands of a small elite

It is with some restraint that I note that "democracy" per se does a piss-poor job of preventing this, when Tim Cook's net worth exceeds the yearly GDP of the Seychelles. This is particularly true in a world where capital controls information channels, and therefore public opinion. To really prevent capitalists from capitalizing on their capital to amass ever more capital, you also need a social infrastructure that redistributes wealth away from powerful individuals back to society, so that social issues can be addressed.