You hit the nail on the head there right at the end.
It is a question of nobility. Noblesse oblige means that deference rests on the belief that gentlemen are decent fellows who recognise their responsibilities to society as part of their privilege. Standards, both in public and private life.
Your American elite believe their privilege is entirely self earned and that as a result they owe nothing to society or others in general.
Wealth is merely power and status, not position. New money.



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