It'd probably be a step in the right direction. However, beware of allowing people to make decisions they're not qualified to. If Scotland was a direct democracy, we would still have Clause 28, just because the majority of the electorate had no idea what they were actually voting on.
Prepositions are words I like to end sentences with.
Perhaps then a meritocratic house would be better, with members of the public/pillars of industry/whatever being nominated as a reward for good works. A chance to actually serve the country would be better to most people than an OBE, I'm sure. Except perhaps the lazy ones.
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No names have been changed to protect the innocent, since God Almighty protects the innocent as a matter of Heavenly routine.