What if people voted not for political parties, but for metrics that society should seek to maximize (e.g. median household income, average life expectancy).

And then betting markets determined the policy that would maximize the metric best. 

Not personally a fan of traditional betting*, but betting markets in modern online form have traditionally been a great gauge of sentiment.

*although we all make bets by taking individual actions every day.

Could also be done via blockchains/DAOs.