Its etymology is: "the people's rule". Its definition is: "a system of government by the whole population". I think it's pretty fundamental for democracy that

Its etymology is: "the people's rule". Its definition is: "a system of government by the whole population". I think it's pretty fundamental for democracy that as a member of society you have equal power to govern yourself as everyone else does. What you describe is an Oligarchy. Specifically it seems close to a Geniocracy, Meritocracy, Noocracy or Technocracy. Those are all forms of Oligarchy, where only the "smart", "deserving", "wise", and "experts" get to rule.