America is ending one the most successful runs of any nation in recorded history. Cheap raw materials, incredibly cheap energy, vastly expanded markets: it's a recipe for a cake walk -- and it was a cake walk. The problem is, when you give successive generations great wealth without having to work very hard for it, what happens? We don't have to look far for case studies. It's so common in wealthy families that the expression is: the first generation creates the wealth, the second builds upon it, and the third spends it.

Unfortunately, we've borrowed our way well into a fourth generation. If these kids were even slightly interested in learning, they could do so easily. Libraries and any internet-capable computer are tremendous resources. The teachers and books these kids are given are also quite good. But the culture they live in discourages learning. It values fiscal superiority over hard work. In fact, it glorifies those who get wealthy fast over those who work their lifetimes for it. It gives feel-good advice, such as, "Go your own way; break the rules; don't listen to others," which is only good advice once you already know all the rules. Getting to know those rules, however, takes a lot of hard work and time. In other words, we're a culture that values results, not effort.

It's the curse of success. It's the third/fourth generation effect. It will all correct itself naturally and there's not much we can do about it -- except put our fingers in our ears and wait.