[floatrock]

You're right, it's a self-reinforcing loop: incumbents win most elections, so they raise the most money, so they run the most effective campaigns, so they win the incumbency.

The solution is to chip away at this self-reinforcing feedback loop. Decentralize the fundraising through effective campaign finance limits and you create more dependence on small donors. Small donors care more about having their beliefs represented than choosing the winning horse (and the influence that comes with the winning horse being indebted to you).

The incumbency bias is a circular result of centralized money going for the easy bet. Decentralize public funding and the easy bet becomes less clear, weakening the feedback loop.