Aristocracy is government of a State run by its elite citizens. Aristocrat is a member of an aristocracy or of the nobility, originally of the French aristocracy in the French Revolution of 1790. Aristocracy is government of a State by those who are most distinguished by birth and wealth. A ruling body of nobles is an oligarchy. Kakistocracy represents the opposite of aristocracy, as aristos means "excellent" in Greek, like kakistos means the "worst" in Greek. Origins of the word aristocracy imply the meaning of "rule by the best."
Aristocracy is the class to which such rulers belong, the nobility; the patrician or privileged class, regardless of the form of government. Plutocracy is rule by the rich. Oligarchy is a form of government where power rests with a small elite segment of society distinguished by royalty and wealth.
Patience Capital and the Demise of the Aristocracy - We model the decision problem of a parent who chooses an occupation and invests in the patience of her children. Patient individuals choose occupations with a steep income profile, a steep income profile, in turn, leads to a strong incentive to invest in patience. In equilibrium, society becomes stratified along occupational lines. The theory can account for the demise of the British land-owning aristocracy in the nineteenth century, when rich landowners proved unable to profit from new opportunities arising with industrialization, and were thus surpassed by industrialists rising from the middle classes. - MATTHIAS DOEPKE, FABRIZIO ZILIBOTTI.
The industrial revolution, political economy and the British aristocracy: the second Viscount Dudley and Ward as an eighteenth-century canal promoter - David Brown. Abstract: This case study of the second Viscount Dudley and Ward, the great canal promoter, argues that the aristocracy made a positive contribution to British economic growth in the age of the classic 'industrial revolution' through their willingness to promote local economic initiatives like canals and enclosures in Parliament and their own economic initiatives.
THE SWEDISH ARISTOCRACY AND THE
FRENCH ENLIGHTENMENT CIRCA 1740–1780 - Wolff, Charlotta.
Abstract: During the second half of the 18th century, Sweden had important political and
cultural contacts with France. The aristocracy, which had a central role in Swedish
politics during the Age of Liberty, showed an active interest in the French Enlightenment.
This article examines the meaning of radical philosophy in the context of court society.
Monarchy, Aristocracy, and the State in Europe, 1300–1800 - Powis J.