aristocracy (n.)

"government by the people, system of government in which the sovereign power is vested in the people as a whole exercising power directly or by elected officials; a state so governed," 1570s, from French démocratie (14c.), from Medieval Latin democratia (13c.), from Greek dēmokratia "popular government," from dēmos "common people," originally "district" (see demotic), + kratos "rule, strength" (see -cracy).

Sometimes 16c.-17c. in Latinized form democratie. In 19c. England it could refer to "the class of people which has no hereditary or other rank, the common people." In 19c. U.S. politics it could mean "principles or members of the Democratic Party."

Democracy implies that the man must take the responsibility for choosing his rulers and representatives, and for the maintenance of his own 'rights' against the possible and probable encroachments of the government which he has sanctioned to act for him in public matters. [Ezra Pound, "ABC of Economics," 1933]

mid-14c., monarchie, "a kingdom, territory ruled by a monarch;" late 14c., "rule by one person with supreme power;" from Old French monarchie "sovereignty, absolute power" (13c.), from Late Latin monarchia, from Greek monarkhia "absolute rule," literally "ruling of one," from monos "alone" (from PIE root *men- (4) "small, isolated") + arkhein "to rule" (see archon). Meaning "form of government in which supreme power is in the hands of a monarch" is from early 15c.