Exactly, European (aka "the whites", but I don't want to enter into what's white in the US vs rest of the world) had some advantage, they used it, gained more p

Exactly, European (aka "the whites", but I don't want to enter into what's white in the US vs rest of the world) had some advantage, they used it, gained more power and as everybody with power does, hold on to it by all their means. And even if rich families or dynasties come and go, the accrued wealth tends to not move too much. And it moves through generations, as you pointed out.