Nowadays we call them “trust-fund brats”

“Gentlemen don’t earn money. Gentlemen, as a matter of fact, don’t do anything. They exist. Perfuming the air like Madonna lilies. Money comes into them as air through petals and foliage. Thus the world is made better and brighter. And, of course, thus political life can be kept clean!” – Ford Madox Ford, A Man Could Stand Up—

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