Is the crony capitalist society in wich we live today is just the product of the ultraliberal society of the past?

So to elaborate my question, is the savage capitalist society of the past (with a smaller government and less regulation) just evolved into a society in wich those people who became immensely rich just corrupted the government to kill the concurrence for them? And if so, what make you think that if we returned to this ultraliberal society of the past, we wouldn’t just return to the starting point because this new economical elite that it would construct, would just rebuy the government to rig the market in their favor again? So what would be a solution to this cycle ?