People love to roll out this popular criticism of democracy but there is very little actual evidence to support it. It can be quite a bit more expensive and much more visible when you have to influence a large number of people than to influence a small group of stakeholders. There's a reason why lobbying is such a huge part of american politics.

Even more to the point both historical and contemporary evidence indicates that power and influence spread more evenly across a countries citizens is strongly correlated to overall quality of life.