I don't agree with this, principally because it assumes that the People are good legislators. While in general (and in this thread) we concentrate on the electioneering and pandering aspects of politicians, there is another ignored side: they make law. And just as we require high standards for those who represent in the legal system (lawyers) and those who adjudicate the law (judges), we should have high standards for those who make it.
Writing legislation is a skill, and governments benefit when it is done well. Just as you don't want the public voting on how to fly the plane, you don't want them writing legislation.
What we need is a public that can choose good legislators/politicians. And the problem is, they're not very good at it, and elections are not framed in terms of who makes better decisions.