Privilege

David Cameron said in his conference speech.

"I'm not here to defend privilege, I'm here to spread it."

Privilege - is commonly used to mean  "a special right, advantage, or immunity granted or available only to a particular person or group"

It is a sad day when the Prime Minister of the United Kingdom doesn't know what a word means.
Or does he ?

The reason for the existence of the Conservative Party has always been to defend privilege.  A few Conservatives feel privilege ought to be justified in some way - e.g for 'wealth creators' but for most of them the existence of a hierarchy is a good in itself.

Middle English: via Old French from Latin privilegium 'bill or law affecting an individual', from privus 'private' + lex, leg- 'law'