You’re describing the original Athenian democratic system, Sortition. People were randomly selected for government, and as a result policies were truly representative of what people wanted. It was effective.
It was tried later in Venice and Florence, and it failed because it only selected from nobles, not everyone.
I'm reminded of the opening of one of Kurt Vonnegut's books (Hocus Pocus maybe?). A detail that is easy to overlook is that the book starts describing that the US just elected it's least popular president ever, and in the inauguration day riots a few SCOTUS justices get assassinated.
It then moves on to a wild tale about a guy that takes care of church bells.
Positions need to pay competitive but not too much. Regular people need to be able to live off of elected positions. If it is too little, only the already rich would be able to afford to. If it's too high it will attract people in it for money. The most important part in my opinion is, citizen united. Get the ultra rich money out of politics. All money involved needs to be equal. Campaigning on equal terms, debates etc. Money is winning, money always attracts the worst. The hard part is to stop the agenda driven "news" organizations. They are doing crazy misinformation damage and Im not sure how to stop that. Maybe reinstate the fairness doctrine.