The essay suffers from Ted-talk disease: lots of grand gestures and bromides, not as much rigorous thinking. The underlying problem is an important one, however.

A little-discussed solution to this problem is one I would like to see tried, distributism:

https://en.wikipedia.org/wiki/Distributism

A book I am currently reading (and enjoying) on it is:

https://www.amazon.com/Toward-Truly-Free-Market-Distributist...

For those interested in the modern-day inheritor to the Georgist/Distributist movement Magie belonged to, there's no better introductory text than John Medaille's "Towards A Truly Free Market":

http://www.amazon.com/Toward-Truly-Free-Market-Distributist/...

There's a particularly salient chapter on Land.

(Medaille positions Distributism as orthogonal to both Capitalism and Socialism.)