All of the capital was tied up in the hands of the royalty.
The black plague came along and killed 50% of the world and the whole system was shaken up and it's theorized that reduced the inequality enough to the elightenment to happen.
Its possible that World War two did the same thing for the mid 20th century post great Gatsby roaring 20s levels of inequality. But apparently according to the article there was a lot of innovation during the early 20th century though. So who knows?
Walter Sciedel, I think it is, posits the idea that only four things can upend inequality and that's war plague and revolution and governmental collapse.
Note that legislation is not included in that list.
https://www.google.com/amp/s/amp.economist.com/open-future/2...