Its counterpart is black privilege, which is concrete and provable (even codified, in many cases). "Affirmative action," OJ Simpson, Al Sharpton's tax evasion, Charlie Rangel's financial shenanigans, Eric Holder's double standards, and Barack Obama's transparent incompetence are demonstrable examples of black privilege, as is the whole "white privilege" movement.
Well now we have a growing number of lib leftists who use the term "white privilege" when they mean to holler "cracker" or "honky" or "evil whitey."
The race baiters can't give up on the "racist, evil whitey" theme, because that would mean their prime constituency, black Americans, would have to acknowledge that they were responsible for their own problems. That is something the race-hustlers will never do.