You will disqualify any real talent and brains. Any one in charge of my Municipality/ Province/ Country/ Company has to be at least my intellectual equal. You will end up with a lot of people who can't find another job or don't need a job. I would vote for the second lot, but the populace will not relate to them.

What you want, is ridiculous. You will have an ungoverned country. Everybody wants to make money. Everybody wants to send their children to good schools. Really? Meditate a bit and imagine your world seriously.