Aristocracy is a form of government or social system in which power is held by a small, privileged ruling class, often comprised of nobility or elites with hereditary titles and wealth. This class typically holds significant influence over political, economic, and social matters, often justified by notions of superior birth, education, or property ownership. Aristocracies can exist within various governmental frameworks, including monarchies and oligarchies, and are characterized by their focus on maintaining traditional power structures and privileges.