Indeed. Transactional economy must go, because it always leads to highest priests, monarchs, and billionaires (insert respective revolutions in between the respective terms). That rise of "elites" is a feature of our Sumerian model of civilization, not a bug.

There is but one solution, and that's gift economy -- give all you do for free. Thus, everyone can have all their needs met, and there is little to no ground for corruption or motivations for power-grabs. Simple as that.

If your idea of redesign is along the lines of another revolution within the same framework of transactions (value / work -> reward / money), no matter how reshuffled or regulated, I have bad news for you -- it will end up with another kind of "elites" and the same problems, only multiplied. On top of it, Earth can't withstand another cycle of that shit in a way that is compatible with human survival.

¯\_(ツ)_/¯