I consider that to be a problem, but for our local 'owner families', i.e. oligarchs or wealthy dynasties, it's not. It allows for very efficient capture of public institutions and a kind of glacial stability that makes people in power feel more safe even though some of them have to switch roles every three to ten years or so.
Historically regimes like this tend to incite a lot of violence, either through criminal organisations as people seek fame and fortune outside the paths controlled and largely captured by the elites, or through militant revolution that might turn into civil war. I consider it highly irresponsible by our large unions and mainstream labour parties to having given way to this situation, they should have 'learned from history' as the tankies of old put it.
That's the problem, isn't it ? The holy capitalist cow stands no competition.