"Despotism is a form of government in which a single entity rules with absolute power. That entity may be an individual, as in an autocracy, or it may be a group, as in an oligarchy. The word despotism means to "rule in the fashion of a despot" and does not necessarily require a singular "despot", an individual......Colloquially, despot has been applied pejoratively to a person, particularity a head of state or government, who abuses his power and authority to oppress his people, subjects or subordinates."
In the United Kingdom it is also known as representative democracy.
H/T: Fausty's Libertarian Blog for the idea.