It takes a whole village to raise a child.

Rule by an elitist minority, chosen by what? Hereditary privellege?
How enlightened. Why does it sound like a class system to me?
The elite shall rule and control wealth. The majority can work as servants or in some other meaningless task and if you show some talent with sums or words, you might end up working for the system in the Ministry of Love or The Ministry of Truth. But be careful what you think, because as a part of the machine your every action and word will be under scrutiny for signs of sedition.

The only thing you need to know... you love him.