The British monarchy has long been a fascination for Americans, and one of significant controversy for U.K. citizens. Much of these differing perspectives can be traced to various collective mythologies and hard-nosed realities.

Yet, despite the coming transition of the monarchy to a younger generation (Prince Charles is next in line when Queen Elizabeth’s record-breaking reign comes to an end), the respective views on the monarchy have not changed on either side of the Atlantic.

In the U.K., feelings toward the monarchy are decidedly mixed.

For Americans, the fascination with the royal family is really nothing more complicated than the ongoing interest in celebrity. The royals are essentially a U.K.-version of American movie stars. (Did you see the duchess of Cambridge wore a pair of $30 pants from the Gap last week?)

We also have a kinship with the British, not only going back to colonial times — they remain our steadfast ally.

What really brought British royalty home to Americans, however, was Princess Diana. It was a fairy tale come true — a young woman whisked off to become a princess. Alas, this was followed by great tragedy. So many Americans, particularly women, identified with Diana’s story. Thus, the trajectory of her two sons’ lives took on an almost mythological importance.

Princes William and Harry have grown into handsome young men. William, of course, has only escalated the fairy tale by marrying Kate Middleton and producing two children — George and Charlotte. Harry remains the eligible bachelor. What better fodder for American tabloids, celebrity press, and the dreams of even the most cynical women? It’s hard to believe that anyone wouldn’t swoon at the prospect of being a real princess.

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There’s also decidedly less scandal surrounding the young men, and the death of their mother affords them a great deal of goodwill. Prince Charles had an affair with Camilla Bowles. The media was vicious toward Sarah Ferguson, former duchess of York.

In the end, however, it’s all just fluff for Americans — celebrity and fantasy.

In the U.K., however, feelings toward the monarchy are decidedly mixed. The royal family has no constitutional power — only the ministers and Parliament do. The prime minister informs the monarchy of policy, but only as a formality.

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And yet, various polls show that roughly two-thirds of the U.K. believes the monarchy is “good for Britain,” with only about 9 percent saying it is bad. The same two-thirds also believe the monarchy will still exist in 100 years’ time.

The inference from these results is that many Britons may feel anchored to the tradition the monarchy represents. Traditions that last hundreds of years, such as this one, are difficult for even the most modern societies to shake. Many others believe the monarchy is good for tourism and helps to promote Britain.

Of course, the British are absolutely mental when it comes to tabloid dirt. They make our publications seems tame. U.K. tabloids are brutal and mean-spirited, and they take delight in eviscerating their their targets. The concept of building up celebrities, only to take them down, is a British specialty.

Yet there is also definitive antagonism toward the royals. “Hang ’em high and hang ’em long,” said one U.K. friend. The anti-monarchy sentiment is rooted in symbolism. Princes William and Harry may be delightful young men and all, but at its heart, some Britons see them and their entire family as a symbol of inherited wealth and privilege.

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The concept of “wealth inequality” in America is a relatively recent phenomenon. In England, however, class division has existed for centuries. In a modern society, actual wealth disparity is enough of a problem, according to some citizens. Why exacerbate the difference by having such a highly visible symbol of it in the monarchy?

In addition, this swath of the population feels there is no place for an inherited “head of state” in a democracy. It no longer has accountability to our equivalent of Freedom of Information Act requests. It costs nearly $300 million per year to fund it.

The popular Prince Harry can only get away with so much love — others see a young man flaunting wealth in his new multi-million-pound estate in the country. William and Kate can only have so many beautiful children, and Diana’s legacy only goes so far, before ordinary citizens feel resentment.

Yet, despite calls for abolishing the monarchy, it seems as if tradition is likely to outlast everything else in a country as old as Britain.