Welcome to the Second Gilded Age

See article conclusions; their basic premise is the original Gilded Age was ultimately overturned by the New Deal (that is an oversimplification but the article is very long).
Conclusions:
To restore democracy’s legitimacy again, several reforms are essential. Politically, we must remove money from politics, eliminate the Electoral College for presidential elections, and remove the president’s absolute immunity from prosecution while in office. 

Economically, reform must rest on two principles. First, we must contain market power. We can achieve this through restructuring the patent system, placing limits on mergers and acquisitions, higher taxation of corporate monopoly profits, and higher top marginal personal income tax rates.

Second, we must ensure a more equal sharing of technology’s benefits. Establishing guardrails on AI that favor innovations which compliment human labor rather than replace it, upskilling service jobs to increase their productivity and pay, and a federal legal obligation to restore the earning capacity of any worker whose job is eliminated by a publicly supported act could help achieve this goal. Policies along these lines have been successfully developed in Scandinavia, Germany, and Japan, and have helped stabilize democratic institutions in those countries.