It still has the problem that most people aren't knowledgable enough to make an educated vote.
Let's take an example: A law that raises tax on gasoline. It will make life more expensive for most car-driving people, make driving a car less attractive, and reduces economic growth. On the other side, it will provide the government with income that can be spend on needed projects or lowering taxes in other areas. It will also diminish air pollution and might even save our civilisations by reducing global warming.
I'm not claiming that any of the above consequences are true. But I am claiming that any of the above consequences might be true, and that I don't have the knowledge to make an well-informed guess about the implication of a gasoline tax raise. It is also true that the consequences will occur, regardless on whether I believe they do or not.
Given that, my best bet is to choose a representative who is capable of making these decisions and who shares my views on how a society should look like. After I have chosen him, I should be watching his behaviour and question him about the decisions he made.
A problem with many representative democracies nowadays seems to be that people don't feel that they can chose a such a representative. Whether that is caused by the politicians, the system, the press who is reporting about the politicians, or the voters themselves, is an interesting question.