I was under the impression America was founded to have elements of a socialist democracy. These days that seems like an oxymoron if you listen to some people. Promote the common welfare? The issue was intended to be balanced, not to do away with or completely embrace either end of the spectrum.
The problem is that the Constitution is a pre-Industrial document, written by people who lived in a world where powerful natural forces served to regulate human behavior and where the ownership of "stuff" (in particular land) was the lynchpin of individual success and prosperity.
Along comes the Industrial Revolution, and the ability of a few to leverage technology to their benefit, and those natural balancing mechanisms were irrevocably destroyed
A simple example: Pre IR, every town had to have it's own mill, to grind the wheat/corn/etc produced by the local farmers. This was because it was impractical to bring in grains from out of town.
In practical terms that meant that the miller could only charge so much for his services or else the farmers simply did without them and did for themselves. The miller had natural curbs on his ability to exploit the farmers.
Post IR, all that changed. Not only could the miller easily bring in grains from all the surrounding towns, but his efficiency in grinding them down was so great, that one miller (usually the first to industrialize) had such an absolute competitive advantage he put all the surrounding towns' mills out of business in short order.
This had the effect of making the miller "the only game in town" (in other words a monopoly), or at the very least secured him a huge comparative advantage. The farmers were forced into doing business with this new, more explotative miller, because if they had ANY expectation of bringing a crop to market (moving beyond personal subsistance farming), they had to play the miller's game.