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The Democracy of the founding fathers was Greek Democracy, predicated upon a slave society, and restricted to only the elite. This is the society we live in today, even with our reforms towards direct representation. The system is inherently biased towards the election of elites and against the representation of the masses. Hamilton called it “faction” when the working class got together and demanded better conditions, and mechanisms were built in (which still exist to this day) that serve to ensure the continued dominance of the elite over the masses. The suffering of the many is intentional. The opulence of the wealthy is also. This is the intended outcome.
Indeed, and that is around the time that the Labor Revolution started to mobilize in the US. By then, there were already the beginnings of major monopolies that would continue to snowball to their peak by the end of the 1800s/early 1900s.
I will leave off with this: I don't entirely disagree with you. Certain industries should absolutely have no profit motive: Healthcare, basic utilities, basic infrastructure, etc. should 100% be publicly owned, funded, and operated. In the US, we've seen firsthand what has resulted from privatizing these goods and services (i.e. it's been very bad).
However, in my opinion, humans are still fairly primitive animals and motive is heavily driven by immediate/short term reward. I think it would be amazing if we could abandon that short sighted thinking/ambitions and strive for a harmonious utopia of pure socialism. But I just don't see how it's possible when you're dealing with billions of animals, much of whom have generational trauma that drives much of our destructive behavior. You'd need to address that trauma, cease all violence, and provide basic needs to everyone so that people can live comfortably and without fear for generations. Good luck getting the vast majority of folks on board with that goal.