Today People's respect only to richest person but respect not stands only for those people's who are famous, richest or they have any value or place in the world. Must respect to your parents, teacher's, elders and others but also to lower caste, beggars, Poor's, shopkeepers etc.
I respect to my parents because they gave birth to me and taught how to survive whole life. Specially they taught me respect to all. That's not matter, who they are?...