Long ago people were well aware of the pernicious effect of the super wealthy. Here's a newspaper article with commentary.
However, it goes back much further than this. When the Federal Reserve was created, it was well known that 'The Money Trust' - a name for the super rich - owned at least half of the US. And before that we have Andrew Jackson who famously fought the banks. And before that there was a major political party which won 10% of the vote, whose main point was being anti freemasonic.
So how did we forget this? They bought up all the newspapers to control the information. That's how. But now we have the internet. And that's perhaps why the new Italian coalition government is planning to ban freemasons from holding office.