One can agree that they would rather see wealth more equitably distributed while also admitting that the current system of private property and capitalism is the most effective at broadly generating wealth.

You could say that, but you also don't have to concede it.

In fact, my argument would be that the more regulated, industrial-policy-driven economies of the recent past were better at generating wealth and improving society.

For the most part, the real conflict that we're having around these topics is about the reorganization of the economy that happened starting in the mid-1970s.

This change shifted the focus of the US economy to financial extraction and away from industrial policies, a role that we sold out to China for the benefit of our elite classes and the severe detriment of our working class.