Almost all of that is fixable by government. It doesn't have to be captured. It's paid out of taxes to not be captured. Monopoly prevention, same. Fake innovations - the way to protect against them is to make sure there's an environment in which competitors can arise.
In theory yes, in practice in the US today it’s becoming more and more of a fantasy. I hope we can get back there one day, we have the constitutional framework to do so, but the current system is running fast in the opposite direction, one party is rabidly embracing deregulation which will exacerbate these negative points, and the other one failed to live up to its ideals because the entire political class depends on lobbying dollars and was too busy focusing on performative agendas.
