noun/ 1) The guilt that white men and woman feel over the historical subjection of other races. For instance, the extroardinary election of Barack Obama may be due in part to guilt over the fact that blacks were forced into slavery for 300 years. Another example would be the white community's hesitation to be proud of their heritage, while most other races exhibit their pride.
2) The result in which a business, university, etc. will prefer a qualified man or woman of ethnicity over another qualified caucasian.
White Guy: I didn't get accepted into Berkeley, even though I have a 4.2 GPA.