I will have to stick with the more accurate "privileged" terminology.
I don't agree with how the word "privileged" is used nowadays, for reasons explained by economist David Henderson below. Step #1 in the process of discounting the achievements of my children and therefore justifying discrimination against them and resentment towards them and me is to label them "privileged".
The Real Meaning of Privileged “They live in an expensive mansion, fly first-class to foreign countries, and eat at the finest restaurants. They send their kids to private schools. They’re so privileged.” How often have you heard some variant of the lines above? I’d bet it’s a lot. Yet, typically, the word “privileged” is inaccurate. We certainly all know or know of people who have a great deal of wealth and who spend it the way the people in the quoted lines do. But are these people privileged? Not necessarily. They’re obviously wealthy, but that’s not the same as being privileged. Privilege, instead, has to do with receiving special treatment, typically from government, because of one’s special legal status.
Friedrich Hayek points this out in his 1944 book, The Road to Serfdom. According to Hayek, the right to own land was at one time reserved for the nobility. That was privilege. But the term, he writes, came to apply to anyone who owned property, even though virtually every adult now has the right to own property. We see something similar today. Rich people are called “privileged” even if they earned their wealth without political pull. Those who are poor, on the other hand, are called “underprivileged,” even if their being poor has nothing to do with having less than the average amount of privilege.
