The idea that a small, select group of people should get their way is called elitism. Rich politicians and academics alike are sometimes accused of elitism.
People who are fans of democracy, believing that all citizens should be able to vote for their governmental representatives, are not likely to be fond of elitism. When governments are made up solely of members of the same family, social class, or specific demographic they can be accused of elitism. Ironically, the root of elitism is the Latin word ēligere, which means "to choose."