That doesn't matter anymore. The wealthy class might not be called "royalty" (yet?), but they effectively are. The chances today for someone who starts in a poor family to reach middle class, let alone become rich, are very slim. Pretending that the current system in the US is catering to anyone else except the rich is disingenuous.

That said, I agree that the economy of such a society has a better chance of succeeding, but it's at the cost of suffering of lots of people. Actually both extremes are bad - socialism has its problems, but so does the unchecked capitalism.