The word aristocracy comes from aristokratia. This means that a true aristocrat is he who is the best qualified to rule. Democracy means rule by everyone or no one. Communism sought to obtain a certain type of lofty and idealistic human behaviour through a system of sanctions and punishments, monarchy and aristocracy sought to obtain the same sort of public-minded dutifulness by way of a system of encouragement's and rewards. Titles appeal to the nobler instincts in us.
Titles are the stuff of which dreams are made.
They have romantic connotations rooted in Arthurian Legend, fairy tales and fantasy. Actually, titles are terms used to designate degrees of sovereignty, nobility and honour. Today they have very little to do with land tenure or property. Chivalry embodied the vision of the ideal and pure man of valour and Christian virtue endowed with a higher sense of purpose than the mere material. Thus these ancient relics of a more beautiful and glorious past very much retain their relevance in today's world.