"privileged standpoint" is a correct and usable phrase in written English.
It implies a viewpoint of advantage or superiority, when one has access to something that others may not have. For example: The professor's privileged standpoint allowed him to have a better understanding of the current debate on healthcare policy.
The privileged standpoint is not that of women, but of feminists.
From this privileged standpoint of the proletariat, which is also Marx's standpoint, capitalism is unjust, and so it follows that Marx thought capitalism unjust.
However, most versions of standpoint theory represent the epistemically privileged standpoint as an achieved, not a given, perspective, requiring critical reflection on the power structures of society and the relations of one's group to it.
The achievement of an epistemically privileged standpoint involves a political engagement that makes clear to the socially underprivileged the shared nature of their experiences of oppression and reveals the systematic structure of power relations.
Feminist standpoint theory, according to Harding, argues that the political engagement of feminists and their corresponding focus on the lives of women leads to an epistemically privileged "standpoint" on social reality (for example Hartsock 1983; Rose 1983; Smith 1974), with the political engagement requirement distinguishing the idea of a standpoint from the more generic idea of a "perspective".
But I speak from a privileged standpoint because I've been the luckiest actor on the planet.
Accordingly, the activities of women that place them in a socially underprivileged position can form the basis of a privileged epistemic standpoint, through which a deeper understanding of patriarchal institutions and ideologies can be reached (Hartsock 1983).
There may be no fact-of-the-matter as to whether higher men are or are not really valuable, but Nietzsche's evaluative standpoint is privileged by virtue of its appeal to all of us.
By contrast, the standpoint of the privileged represents social phenomena only in relation to the interests of the privileged class, but ideologically misrepresents these interests as coinciding with universal human interests.
Where the standpoint of the privileged tends to represent existing social inequalities as natural and necessary, the standpoint of the disadvantaged correctly represents them as socially contingent, and shows how they could be overcome.
While the privileging of some epistemic perspectives ensures that standpoint theory bears normative content, it remains to be explained how one attains a privileged epistemic standpoint that will lead to objective knowledge, and how one can identify such a standpoint.
