We've had more participation in the system, than in any point in our history. This is due to it being easier to participate, social media and such, and the fact that the system has mutated into being involved in EVERYTHING.I'm not sure the oligarchy problem is socialism's main target, capitalism's either I would point out. Participation in the system solves the oligarchy problem To that end socialism gets more people with skin in the game and socializing campaigns mean the candidates work for the taxpayer rather than the oligarchs. All around, socialism certainly does more to address your concerns than capitalism ever will. But a little utilitarianism is what we really need, just ask Australia.
It HAS NOT done a good job of our issues with the Oligarchies, as the Oligarchies continue to grow as does the wealth gap in this country and around the world. The system was created to keep those Oligarchies propped up and to make you just happy enough with them that you won't tear them down part by part.(you are a great example of that happy enough type of person).
Darwin is not impressed with the evolution of the common American. Particularly the unreachable minds of the left vs. right zombie brigade that continues to eat its own brains.