> capitalist system will ensure wealth becomes concentrated in fewer and fewer hands. The only way this can be counter-balanced is with government regulation

I'd argue government is just the same. If you look at who holds office right now, it's predominantly the older generation [0]. They achieved that by becoming career politicians. Deng Xiaoping introduced capitalism which lifted generations of people out of poverty [1]. It has a good track record of doing that. The rich companies lobby the government to make competition for the little guy impossible and solidifying their concentration of power -- crony capitalism. I do think there should be a push and pull, but both sides are human and power hungry.

[0] https://theconversation.com/politicians-are-getting-older-sh... [1] https://www.nytimes.com/1997/02/20/world/deng-xiaoping-a-pol...