No, monarchy is the ultimate expression of Feudalism, which is an inherently socialist enterprise. The lord of the manor owns all of the land and the various peasants and vassals (or in modernspeak, the proletariat and the party members), work for him, in return for his protection. The lord plans the local economy and the serfs meet the goals of the five-year-plan, while the vassals get to exercise the droit de seignoir over them. Capitalism doesn't require the concentration of wealth in fewer hands. In fact, the point of capitalism is that wealth is created everywhere, and that it is dispersed as everyone pursues their own interests. This is why socialists hate capitalism, because there's no single way to control it, and unfettered capitalism undermines feudalism. Serfs who can create their own wealth can hire the means to protect it and don't have to give up their daughters to the local lord's whims. The merchant class that arose during the Renaissance was seen by the church and the nobility as a direct threat to their power and privileges, and they were right.