To be quite honest, it seems to me - and I can be wrong - that it simply substituted power of wealth for power of position. Where I live I know that during occupation people were deemed as important based on where they worked - because where they worked dictated what they could steal obtain, be it items, access or favors.
There always will be someone on top, one way or the other. In capitalist society, it’s the guy who has the most money. In co- … socialist…? society it’s the guy with most connections.