What is privilege?

The Atlanta Journal-Constitution wanted to find out, or at least find out how a diverse group of Atlantans thought about their own privilege. (Erica A. Hernandez/AJC)
priv·i·lege
[ˈpriv(ə)lij]
noun
privilege (noun) · privileges (plural noun) · absolute privilege (noun) · absolute privileges (plural noun) · parliamentary privilege (noun) · parliamentary privileges (plural noun)
a special right, advantage, or immunity granted or available only to a particular person or group:
"education is a right, not a privilege" · "he has been accustomed all his life to wealth and privilege"
something regarded as a special honor:
"I have the privilege of awarding you this scholarship"
(especially in a parliamentary context) the right to say or write something without the risk of incurring punishment or legal action for defamation:
"a breach of parliamentary privilege"
the right of a lawyer or official to refuse to divulge confidential information.
historical
a grant to an individual, corporation, or place of special rights or immunities, especially in the form of a franchise or monopoly.