Google is interesting. Choc full of academically bright people, yet collectively dumb as fuck. Shame there is not a phd for common sense or being down to Earth.
Smart is not necessarily nice. Without nice, incremental returns to smart may be negative. Furthermore, the terminal goal of a market is to give some group exactly what it wants. Such groups are often large, and their wants are defined by how their members act -- usually when others are not looking. A market does not care what anyone says they want.
I'm having trouble understanding the first part of your comment. For the latter I don't understand what you mean by 'smart'. Without some forms of regulation, people would blissfully poison themselves with dangerous foods (for example).
