I think "centralisation" is accurate but imprecise. Specifically, the professional class of financiers managed to capture government under Reagan, meaning that, in practical terms, we are largely governed by Jamie Dimon and his cohorts.

More precisely, our elected governments are governed by the financial class.

I am not suggesting that capital markets should not exist or that they should behave as governments compel them to; I just want the people who operate capital markets to be accountable to the people through the proxy of law and regulation. It should be an administrative profession, like accountancy.