N. Nurmila, Polygamous Marriages in Indonesia and Their Impacts on Women’s Access to Income and Property, Al-Jāmi‘ah: J. Islamic Studies, 2016 (URL), writes:
The belief that Islam supports polygamy is based on the popular literal understanding of the Quran 4:3, 6 whilst contextualistand progressive Muslims, such as Egyptian reformist Muhammad Abduh (1849-1905), understand the verse to discourage and even prohibit polygamous marriage.
This is surprising, given what the verse says:
And if you fear that you will not deal justly with the orphan girls, then marry those that please you of [other] women, two or three or four. But if you fear that you will not be just, then [marry only] one or those your right hand possesses. That is more suitable that you may not incline [to injustice]. -- Qur'an 4:3
Question: How did Muhammad Abduh come to understand Qur'an 4:3 as meaning to discourage and even prohibit polygamous marriage?
(After writing this question, I found an answer, which I'll post as an answer.)