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  Abdolutely - perhaps a limit on the number of peers & a flat rate salary rather than attendance fees and allowances.
  
  James Madison draughted the constitutional order that put power in the hands of the Senate in the USA which he felt represented "the wealth of the nation" and contained "the most capable sett of men, who have respect for property owners and their rights and understand the need for government to protect the minority of the opulent from the majority" - sounds remarkably like the purpose of the House of Lords at least in its original intent.
  Amusingly within his lifetime Madison was to end up describing the Senate, that wonderful example of an elected second chamber, thus "these stockjobbers will become the praetorian band of the government - at once its tools and its tyrant, bribed by its largesses and overawing by its clamors and combinations".
  Sadly nothing has changed from when he said this in 1792 and now - the Senate and most second chambers still fit his view.

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