Old Money v. New Money: Why is Old Money preferred?

Old money often looks down on new money, and portrays new money as lacking class or sophistication. I suppose it is because they did not have the 'fancy' upbringing enjoyed by the typically spoiled old money kids.

In reality, new money should be preferred and honored by society. They are producers who actually built something or had an original idea. They are the hard workers that improve the economy.

It is especially ironic since the only reason the old money families exist is that, at some point, someone in their line actually made an impact. The grandfather they honor in the oil paintings on the wall of their second solarium has far more in common with the new money entrepreneur than he does with his spoiled, worthless great grandchildren.