What is the view that society is ruled by a small number of people who exercise power to further their self-interest?

The view that society is ruled by a small number of people who exercise power to further their self-interest is known as elitism. This perspective suggests that a dominant elite—comprising political leaders, business magnates, and influential figures—controls resources and decision-making processes, often prioritizing their own interests over the broader public good. Elitism posits that this concentration of power leads to unequal access to opportunities and influence, perpetuating social inequalities. Critics argue that such a system undermines democratic principles and citizen engagement.