The fact of the matter is that “let the money vote” works much better than alternatives. “Reason and restraint” is precisely how we got to where we are.
If I can use my money to vote for "give me more money" at a profit, and I have no qualms about doing so, then I win – and if we play multiple such games with the same money, then we end up with a situation that's worse than "let anyone commandeer the resource".