One of the issues is, not matter how educated the electorate are, we still have governments who are willing to lie to cover up or justify their actions. There desperately needs to be transparency and accountability in government. In the public sector generally, there is little accountability - certainly the higher you go up, the more opportunities you get to pass the buck - with the public having little recourse. So you can insist that people understand democracy and economics and political processes, but whoever wins the election will not stick to the promises that they made before the election - offering a myriad of excuses (generally blaming the previous government for them, unless Labour win again, of course!). Then, in 4 years time, we get to throw them out of government to elect a party who we think will stick to their promises - only to be disappointed again when they renege on them.
The whole political system needs to change - we need to be able to see what is happening, and why, and who is pulling certain strings. To bring this a little closer to home, there needs to be transparency about the big businesses supporting and lobbying governments - one example would be the meat and dairy industries. Information is given out by the government which is partly prepared by these organisiations. The GCSE in nutrition (or home economics as it used to be called - you know, cooking!) is written in collaboration with the meat and dairy marketing boards.
Until we have a democracy where we can see what is happening, where we have the power to de-select any MP, where we we can call them out on their lack of accountability, it doesn't matter how knowledgeable we are about the systems, we still have no control.