And yet, the result of our regulatory system has been net positive to an extreme degree - you argument is trying to throw the baby out with the bath water. The very nature of political development in the western world has, for the last few centuries, been as much about how to put the "right" people and systems in positions of power. Let's continue to focus on that instead of giving up.

To use an analogy: if you love to travel the world but keep getting sick from preventable infectious diseases, the solution is to buy bottled water, mosquito repellent, and vaccinations, not stop traveling all together.