> After that, I lost any respect to any monarch! At the best they are mediocre, at the worst they are total idiots! <
One problem with hereditary monarchies is that they are only as strong as the weakest link. One fool is all that’s needed to bring the whole thing crashing down.
The Prussian/German monarchy is a good example of that. Frederick the Great got the job done. As did Kaiser Wilhelm I. Kaiser Wilhelm II threw it all away.
So now the German “nobility” is nothing more than a collection of pretenders. Their titles only good for impressing the weak-minded at dinner parties.
Yes, the problem with monarchy is the same problem with family business. Even if the founder is able, his children may not be, grandchildren almost never will be, and it goes down even more from there.
Very few family businesses last more than three generations. (In competitive environment)
The monarchies, as well as the business in noncompetitive environment (say third world or medieval guilts) may last forever, with predictable results.
The monarchies have additional problem with inbreeding.