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asciilifeform comments on Intelligence enhancement as existential risk mitigation - Less Wrong
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It's highly non-obvious that it would have significant effects. Political process is imperfect but very pragmatic - what makes a lot of sense as there's only as much good an improved political process can do, and breaking it can cause horrible suffering. So current approach of gradual tweaks is a very safe alternative, even if it offends people's idealistic sensibilities.
The effects may well be profound if sufficiently increased intelligence will produce changes in an individual's values and goal system, as I suspect it might.
At the risk of "argument from fictional evidence", I would like to bring up Poul Anderson's Brain Wave, an exploration of this idea (among others.)