>all the benefits of capitalism go to very few people while huge swaths of people are made "redundant".
While that's true, it's only true from a short to medium-term perspective.
In the US at least (perhaps some folks from elsewhere can chime in on this), nearly 70% of GDP is consumer spending.
As you automate away jobs, that leaves fewer people with money to spend. The very wealthy, while certainly able to consume vastly more than others, can't make up for this.
Mostly because there's a limit on how many pairs of pants, skirts, socks, sofas, T-bone steaks, homes, cars, half-caf soy lattes, etc., etc., etc. that one person or household can reasonably use.
If current trends continue, eventually there won't be enough demand to satisfy the levels of production over the long-term -- which will cause the economy to crash and burn.
As such, creating incentives to raise wages, employ more people and encouraging real investment by the wealthiest, rather than incentivizing the hoarding of financial resources, could ensure a vibrant economy for the long-term -- with benefits to everyone, including the very wealthy.
Yes, it will mean that someone whose net worth could be hundreds of millions may only be tens of millions, but from the standpoint of living a good life, how would that make a material difference?
Please note that I am emphatically not advocating for "forced wealth redistribution" or "nationalization of private industry."
Rather, I'm suggesting that changing the incentives WRT wages, taxes and jobs in a capitalist system could have a profound positive effect in the near, medium and long-term on those with the least, and a profound positive effect on those with the most in the long-term.
In fact, creating incentives to inject more consumer spending (through higher wages, incentives to innovate and engage in entrepreneurial activities, disincentives to using arbitrage and financial chicanery to increase wealth, etc.) is a market-based way to bolster the strength of the economy for the long-term, increase the consumer power of those with the least and ensure the long-term growth and stability of our economy and society.
Let's do capitalism right and create a better world for all of us.