The problem with an aristocracy is that, inevitably, corruption will occur as the aristocrats desire more and more power. The only thing that would keep them from doing that is fear of the law and/or fear of the people. If they own the law and the armies, the people would have no say in what's going on. Education and "merits" are not sufficient to make one person or a group of people morally and emotionally able to hand large amounts of power.
There is no "magical" government that solves everything, since the government is basically inept at a lot of what it does (With very notable exceptions). It would take a lot more than your essay to convince me of that. The problem is that there is no competition: They get their taxes whether or not their services are adequate, and are only happy to tax you more in spite of whether you think they're doing a good job or not.
The only thing that will make a better government is a better people - As education and needed information are increasingly available, people can be taught to make their own decisions. The problem is, most people want others to make the decisions for them, resulting in idolization of individuals who have more charisma than everyone else, even among the educated. Knowing what's going on and being critical about everything, even if it's coming from your favorite politician/celebrity, and having sound moral qualities is key to having a better country, not a different way of running things, since, in theory, everything works. In practice, though, hardly anything stands up to what ingenuity mankind can come up with to screw it up.
Also, assuming this is written for a class, unless your teacher is a hard-core liberal, you may run into some problems with the one-sided example of a dictator doing several conservative things. It doesn't bug me, since I figured that you were just providing an example (That may or may not have expressed your views), but the commentary would be torn apart by a teacher with moderate or conservative leanings, especially after the claims made in the first paragraph. Be careful with choosing hot political items and associating them with dictators, since it could go either way with your teacher, even if they agree.
I hope that helped. Again, I kind of assumed that you were writing this for a class. Your teacher will probably be softer on you than this forum, since you can gear your essay towards a specific person.