Meaning of ARISTOCRACY in English
A privileged social class whose members possess disproportionately large shares of a society's wealth, social prestige, educational attainment and political influence, with these advantages having been acquired principally through gift or inheritance from a long line of similarly privileged and cultivated ancestors. The term refers also to a form of government in which the state is effectively controlled by the members of such a class. The term tends to have a somewhat unsavory or derogatory connotation today in the light of democratic theories , but in classical political philosophy it meant rule by "the best people" of the society, who were expected to feel a paternalistic concern for the humbler members of the society that would keep them from ruling in a purely self-seeking fashion .
[See also: oligarchy ]
English glossary of political economy terms. Английский глоссарий политико-экономических терминов. 2012