Herb what you describe is capitalism! When Karl Marx coined the term capitalism this was precisely what he meant. His work “Das Kapital” is surprise, surprise about capital and is where capitalism is first defined as a system.

His observation was that one had gone from a system of lots of independent farmers, and workshop owners making things for the market to a system where a few capital rich individuals totally dominates the economy, we called these people the capitalists. The tiny few who owned the means of production. The rest are workers.

He criticized this system pretty much the same way as you. Congratulations Herb, you have reinvented “Das Kapital” ;-)

Although he did of course not call his alternative “real capitalism” because as far as he was concerned, what he described was real capitalism.

What he wanted was communism where the capital is shared by everyone in common ownership. This is of course not what you want. You just want the starting points in life to be more even. Well, that is a form of socialism called social democracy and that already exists in many parts of the world.

My own native Norway as well as other fellow Nordic nations is a good example of it.

In social democracies competition is valued over monopolies, and so monopolies are often broken by legislation.

It is believed that all should have an equal start and so education and health care is funded the same for everyone. Not like the US where local taxes decide how much a school is funded and hence poor neighborhoods get poor schools. School choice is free.