Well, monopoly holders do provide value. Even in the case of generational wealth, someone in your family started from scratch and created value. You are just continuing to capitalize on that.
I am not saying that there aren't cases where someone simply makes money, without providing shit (see gambling), but value isn't limited to "money", mind you.
OK for gambling.
For monopoly, I must oppose. Imagine you're getting a concession (license, I don't know the good term in english) from a State to exploit a gold mine, you'll make profit and get rich. In France we got the highway system that illustrates that in a good way (builded by the state, then licensed to private operators to exploit, 8 billion profits a year with no investments - just a portion of the money made to be reinvested, in this case the highways provide value, but the people who exploit it don't, it could be someone else and still provide value).
Okay, the gold mine (or highway) itself provides value, but you didn't get wealth because YOU provided value, anybody could have done it. You got rich because you were the lucky (or more exactly the connected - mafia style) one.
It's always good to know that a lot of wealthy families today (their successors) are descending from someone who obtained such an advantage.
That's the reason why I don't want to get into details, because there are many parameters.
The more "connected" guys did offer to someone value, that's why they're connected. Value has nothing to do with morals.
There are exceptions to every rule. If I win the lottery, I didn't really provide value, in terms of money. But who knows the value I provide in other areas of life?
Yes, you're right, because if we continue down this road (I could say that being connected can be done by fear, by obligation, by political power, by blackmail and do all those provide value to anyone ?), we will have to go into the discussion of "What is value ?" and we won't ever be able to answer it.
Since I agree with what you stated on your post, no need to pursue, but it was really nice, like always, to confront points of view with you !
Exactly. The point was "provide value". That's a good, useful statement no matter what!