I had always assumed that the point of Democracy was that having the entire population making decisions through votes resulted in better decisions being made. But certain things about our system seem to fly in the face of this notion. The independence of the Federal Reserve, for instance. Monetary policy is not something you want in the hands of the masses, because history has shown they will not use it wisely.

So if we want elites controlling our monetary policy, why don't we want elites controlling every aspect of society? I think it's because of the general principle that imbalances in power tend to lead to injustice. Democracy gives everybody a small lever they can use to promote their own interests, and that is usually enough to prevent the conflict endemic to mankind from spilling into violence.

Or, in the words of Leonard Cohen:

It's coming from the sorrow in the street,

the holy places where the races meet;

from the homicidal bitchin'

that goes down in every kitchen

to determine who will serve and who will eat.

From the wells of disappointment

where the women kneel to pray

for the grace of God in the desert here

and the desert far away:

Democracy is coming to the U.S.A.