I would say history shows us when we get the former it has a funny way of becoming the latter, and not in a good way. See, e.g., Russia circa 1917, Zimbabwe circa 2002, or that book about pigs walking on their hind legs.

Of course the best option is a mix of people who are actually smart and educated and know policy making policy decisions, but representation of and by the masses who maybe aren't as keyed in but get affected -- but given a choice between the two I'd go Option B without fail. Oddly enough, I think our Founding Fathers agreed. Again, see the electoral college, the Senate, the Supreme Court and judicial supremacy, etc.