What exactly do think is going to happen? I enjoy Facebook, Google, Apple, and Amazon. There creators got wealthy not ripping people off, but providing stuff people wanted for "free" in some cases. I love my Tesla and feel like Musk built an affordable reliable EV (I have driven them for 6 years now). Total repair bills excluding tires were less than $300.
I think you are confused. Most of today's billionaires became billionaires by creating good products and services that improved our lives. And if history repeats itself or at least imitates itself most of their fortunes will be lost or diminished in 3 generations... so the wealthy in America are not "a generational class" but something individuals enjoy.
The Ford family (while still billionaires) have lost more than 90% of their fortune's inflation adjusted value... and they started with what today would be worth over $240 billion. It takes work to burn through more than $220 billion in 100 years... that is more than $2 billion per year!
So, it is a bit of false narrative to think of our society as "class" driven society in spite of the income and wealth inequality. Even at the bottom, Thomas Sowell's study showed the poor can escape poverty simply by working full time at a job (those with less education start lower on the ladder, but people who work ten years at a full-time job with average intelligence will be promoted out of poverty (being replaced by a new poorly educated young person starting out at the bottom). So, we are not a "serf" economy.
But we do have an income distribution problem because of globalism. Most people "sell" their "time" to earn a living. And globalism destroys the "value of time". The most effective tool to combat wealth concentration is to increase the value of time and decrease the value of money. That can be done with secure borders, tariffs, better education, and economic growth.
A second issue we have government has created to many monopolies. There are some "natural" monopolies that do need to be regulated, but the government has created many of today's monopolies which help explain the incredible profits some companies can earn. We have done this intentionally in host of ways including granting patents, copyrights, and other protections to intellectual property and in some cases to create what government hoped would be efficiency but in reality, promoted high prices.
As a conservative liberal, I believe in capitalism, but capitalism depends on competition and the marketplace. But when the government grants a patent on a drug like Ozempic, a drug which costs $5 a month to produce, sells for $12-18,000 to the person getting the drug.
I understand the concept of rewarding people for innovation, but the problem was not that capitalism was not working, but that government created a monopoly.
So, how would a free market change things... all you have to do is look at what happens to drug prices when the product goes "generic". The world does not turn into on every man for himself marketplace, but prices drop on average 90%.
Look at what the market has done to the price of cable. I "cut" the cord from my monopoly granted cable provider Cox and now get YouTube streaming for less than half the cost.
As a classical liberal, I do believe government has a role in limiting abuse in the marketplace. However, the best way for government to achieve that is to insure adequate competition in the marketplace and full disclosure. And prosecuting people that abuse consumers.
I am shocked that our government has failed in that carrying out that responsibility. It has allowed unsafe food additives that other countries have long outlawed. Worse, the government has known for more than 40 years that sugar is literally "killing us" but refrained from educating the public because there is money to be made making processed food and treating metabolic disease.
So rather than an effective counterbalance to capitalism, government has been a big part of the problem. Could government act as an effective balance to abusive business practices? In theory, yes... but government has not really acted that way since its inception. I do like that Trump's administration so far is the most transparent presidency that I have ever witnessed. It is so transparent; it is starting to scare people.
I knew people ripped off Social Security, but I did not realize there were organized overseas crime syndicates doing it. Did you? If as alleged these syndicates have hit Social Security for potentially hundreds of billions of dollars over the last 10 years, how could we not have known and stopped it?