Reply to JFK’s Only Grandson, Jack Schlossberg Acting Unhinged?

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[quote=Anonymous][quote=Anonymous]Rich American families seem to follow a pretty predictable pattern:

First generation is scrappy, driven, smart, sometimes dishonest, often immigrant, buys a place in American high society but never fully accepted

Second generation goes to all the right schools, much more accepted in society and polished, solidifies family business and standing

Third generation goes to all the right schools, maybe nominally runs family business but spends most of time on charity or artistic type stuff or things like dressage.  Less concerned about their kids “making it” or proving the family name

Fourth generation goes to the fancy private k-12 but maybe not fancy college, never has a real job, pisses away family legacy or is full on wacky.  (Most extreme example is DuPont).

There’s some wiggle around the edges and some families skip a step but that seems like a pretty common pattern.  [b]It’s like capitalism has a built in brake on building an aristocracy.[/b][/quote]

Eh, the Wrigley's still own most of Catalina Island. Standard Oil heirs are still ludicrously rich, despite having some bad eggs in the family tree. Perpetual trusts are now a thing in the U.S. via South Dakota and Delaware, despite the fact that England banned them in the 19th century because it was terrible for social mobility.

The "built-in brake" only really applies to newly ascendant wealth that overly relies one or two criticial members of the family to keep the enterprise running. [/quote]

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