I strongly disagree. The super wealthy often have a high interest in helping others to create new enterprises (And I don't mean just as investment, but really e.g. as professors at universities). I don't see the slightest indication that this would be a major source for the lack of more entrepreneurship in the West. Apart from patenting, environmental and social protection laws, and such stuff, Western laws are much more friendly to social mobility than in India or China. In India, you might not even learn reading and writing, if you have bad luck with respect to which family you are born.
An increasing middle class helps of course, but it maybe the other way around. The middle class increases, if there are many people with a mentality keen on founding enterprises. In the West you can have a nice live by just doing what others want you to be done, if you are talented. In India or China, this is much more difficult. And are there really so much more stories of people getting super rich - normed to the population, than in the West? And is this wealth created in the 'real economy' or just good luck on volatile financial markets?

For sure you don't want to take their laws over to reach a better result.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers