Historically an acronym for White Anglo-Saxon Protestant, but used traditionally and frequently to mean White Affluent Schooled Person(s), regardless of a precise national origin or specific christian denomination or religion. Especially relevant in references to persons or families with old money
ties in positions of certain power.
Commonly used with an inherently negative connotation by non-WASPS.
The term is often associated and used interchangeably in reference to the perceived subculture of "Prep", "Preppy", "Prepdom" because of historical and unmistakable ties.
"WASP" has not been attempted to be commercialized as greatly as the perceived "PREP" lifestyle by clothing companies which attempt to sell a lifestyle through mere clothing to the aspiring common populace for monetary gain as opposed to accurately representing the reality of exclusivity.