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Hermit Oldguy
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The reason the Lords were of general benefit to the commoners is that they were heavily invested in the land: the one thing you can't do with an earldom (or castle, or stately home) is move it somewhere nicer. Thus the nobility had a very great interest in the defence and welfare of the realm and its people. Yes they may maintain a tyranny, but there's always some tyranny and so long as it's consistent, the people can manage. The benefit is just that: they prevent radical change - they moderate the ambitions of successive governments (which are often pulling in different directions) and so maintain a peaceful environment in which people may prosper. The problem with the modern Lords - the Scargills and Sugars - is that they are NOT invested. If the country turns to shit, they can cash in and go somewhere else. So they are not focused on maintaining the traditions and mores - the tyranny de jour - that, for all its faults - is working. That's a general truth: no matter how shitty a country is, if the people are being fed, something is working, and a radical can make it worse.
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