Advantages And Disadvantage Of Democratizing The Federal Reserve

294 Words2 Pages
Democratizing the Federal Reserve would have some advantages and some disadvantages. One of the benefits would include the ability to vote in a candidate who would have a large responsibility in the nation's finances. Running the Fed is a huge task, and having a say in who would do so would be beneficial to the nation's people. Candidates could run for this "office" and thus, the American people would have more of a say in how our financial decisions are made. In almost all other aspects of major decisions made in the United States is done so through voting in candidates. This way, we can ensure that the majority of American people are happy. There are also some disadvantages to democratizing the Fed. How many Americans would be qualified enough to make an intelligent vote on electing offices in the Fed? As with any type of voting, there are always uninformed voters who could potentially vote for someone for the wrong reasons. Also, there are times when the Fed must make split-second decisions, and having officers stick to an agenda wouldn't make these quick choices possible. Another argument is that the people who do run the Fed are bank officials who have much experience in the financial world. Why would we need anyone else?…show more content…
Although both sides have a reasonable argument, democratizing the Fed would be a beneficial idea. This way the American people would have their own input into who is controlling the bank of America. We are facing such a tough financial situation today and it is in the best interest of the American people to have a say in who is choosing what's best for the

More about Advantages And Disadvantage Of Democratizing The Federal Reserve

Open Document