>how can wealth not become more concentrated over time?
While in a laissez faire system wealth will tend to concentrate this can be countered by tax and similar measures regardless at to whether they are injurious to the economy or not. In the UK we've had technology undermining workers since the industrial revolution and people protesting it since at least the Luddites in 1811. In spite of things like the introduction of electrical equipment in the 1920s, inequality fell substantially between then and the 70s due to tax rates going as high as over 90%, free education, the NHS, council housing and similar pro equality policies. Then since the 80s with Regan / Thatcher things have swung the other way. Political policy can override much of the technological pressures on equality. Indeed both extremes, everyone owning everything equally or one king owning everything and everyone else owning nothing and being his serfs/servants can be approximately achieved by suitable political and military power.
While in a laissez faire system wealth will tend to concentrate this can be countered by tax and similar measures regardless at to whether they are injurious to the economy or not. In the UK we've had technology undermining workers since the industrial revolution and people protesting it since at least the Luddites in 1811. In spite of things like the introduction of electrical equipment in the 1920s, inequality fell substantially between then and the 70s due to tax rates going as high as over 90%, free education, the NHS, council housing and similar pro equality policies. Then since the 80s with Regan / Thatcher things have swung the other way. Political policy can override much of the technological pressures on equality. Indeed both extremes, everyone owning everything equally or one king owning everything and everyone else owning nothing and being his serfs/servants can be approximately achieved by suitable political and military power.