[iammisc]

And he's mostly right. Americans are uniquely unable to stay rich for many generations. Most generational wealth in america disappears after a few generations.

In my comment history, you'll find a few comments about the issue of couples having fewer and fewer children.

Toqueville's points work so long as people have on average, more than two kids. With the decline in birth rate, we risk descending into primogeniture by attrition, which is terrible.