I completely agree with the argument that selection should take place at the onus of the Airlines prior to training ab-initio pilots. This would avoid heartache and bankruptcy for many aspiring pilots. Unfortunately today's society is dominated by the 'equal access for all' mentality regardless of ability or aptitude. We are all told you can achieve anything with a bit of effort, hence many unsuitable candidates use access to cheap credit to lubricate an otherwise sticky route through the training system. It is hard to argue against this paradigm without being labelled 'elitist'.
Nevertheless, a training Utopia where Airlines take the lead role, fund training and take only the brightest, isn't in their short-term interests. Frankly speaking, they are more than happy if there is a greater supply of girls and boys with the requisite piece of paper than there are available seats. It allows them to reduce terms and conditions of those in employment so the Board Members can buy more fancy houses or livestock. As a poster has already said, sadly it will take a spate of serious accidents before an upswelling of public concern forces the Board Members to make a change or risk losing their newly bought fancy houses when the Airline goes bust.