One thing that would help politicians think long run is to take the money out of elections. The constant need to seek money for the next election which is always two years or less for the House leads to short term thinking. With the current grid lock caused by thousands of lobbyists, bizaare Senate rules etc. the US is not as nimble as other countries and we are gradually going down hill in comparison to other countries who can actually make major changes.
You want someone who is an expert at planning the lives of citizens. That's impossible. What you need is someone with expertise at administering the proper limited functions of the state. Namely, protecting our rights and edjudicating disagreements peacebly. China's central planning led to the deaths of millions of Chinese. I agree their current free market oriented approach has led to significant growth. I've heard it said that it's easier to start a business in China now than in the U.S. Taxpayers underwriting banks encourages them to take risks they shouldn't. There is no scenario where they "have to be bailed out". It helped me as well (although I would have preferred cash instead). But that's just part of a job benefits package, not economic planning.
