my 2 cents
So to retain power such nobility would have to.
- Keep pace with development
- Have large assets not depnded on Fuedl setting
- Have system in place to kick out screw ups
Why? So you can not go on for ever on on feudal Tenure, simply economical productive class will kick you out... Every screw aristocrat needs to be kicked so prestige of class in not downgraded. Also limitation in numbers of Aristocracy needs to be in place (Only first male heir if their is not male heir then first female)
OK my 2 cents on England....
In time of Acts of Union, the King for some internal reasons Grants lands to English aristocracy under two conditions:
Give up your English/Scottish title (and seatn in House of Lords)
Get new title as ( Earl of New Hampshire etc..) And Get more land in New world, but under condition that you will cultivate such lands but in petition to such tile their is penalty attached if not you can keep your land but you will lose your title.(and many did not made it)
Large number of Nobles takes such offer, those who not will find that other Lords have taken under scrutiny those who did not behave properly /and often they lose titles if they do)
Letters patent are grated only for one generation.
Simply put their is only around 100 lords hereditary lord in UK.
But as dawn of industrial age has come they have not slept, they have invested in lots of thinks like Banks, Rail, Industry, Shipping. TO their advantage before setting up body corporate was more routine that expatiation the have used their power to talk access to sovereign to get Charters for their companies. (And as meter of gratitude to their majesty in each company has become costume to get 10% share to his majesty).
Is some Lord has become bankrupt he is "suggested" to give up title or Regain wealth in short period. And new Lord is created from Business class)
So how does UK look now?
Power is divided between King and Parliament and in Parliament is equally divided between lords and commons.
No reforms act 1907 has taken place. Rotten borough were eliminated much faster (due to Lords pressure).
King has it own policy (as meter of fact it HIS or HER Government to begin with) and besides Income from companies started hundred years ago he has still rents from much of land in his empire and Tax free. And small portion of taxes are paid directly to his coffin (Approved by parliament in 1720s but he refuse to grant Royal assent to any attempt to get rid off it).
Commoners can rule them self. Attitude towards commons by Lords is-
"Tax yourself" But not really they blocked any attempt to run deficits besides war times for ages. They them-self see as protection of English liberties against fool attempts to regulate them self to prosperity.
Simply UK is Still master of seas, freedom of trade is vast and it is all protected by watch full eye of HM King from any menace.
From Political System of United Kingdom, London 2011