Allocracy
Allocracy is a political system where power is held by a select group of people, typically those deemed to be the most capable or virtuous. This contrasts with democracy, where power resides with the broader populace, and aristocracy, where power is inherited by a noble class. The core principle of allocracy is that governance should be entrusted to those with superior knowledge, skills, or moral standing.
The idea of rule by the best or most qualified has ancient roots, with philosophers like Plato
Critics of allocracy often raise concerns about the potential for elitism, the suppression of dissent, and