Since deregulation there has been constant pressure to drive airfares down, time and time again consumers display their primary focus is the cheapest fare. Overselling flights has proven to be an effective was to keep airplanes full and costs' per seat low.
If you want a transferable, refundable, confirmed seat; it's already there for you to purchase, you just have to be willing to pay for it. Any time I've searched for airfare there are 4 or 5 different fares displayed, the more expensive fares have those features. You seem to think you're entitled to more than you're willing to pay for, feel free write some letters to your MP and demand they change the regulations, once they do that you can kiss the base airfares goodbye then the only thing that will cause you to be more apt to avoid flying will be the ticket cost (once again). Think about it, a generation ago how many 13 year old kids were able to fly across the country to visit relatives?In what business is it legal to buy and pay for something - many months in advance- that is not refundable - non-transferable and then find someone else has it when you come to get it? Does this make sense?
While there is always room for improvement, air travel today is safer, more reliable and and cheaper than it has ever been, despite what you think, the airlines know how to run their businesses and are quickly learning how to adapt their commercial policies in a world full of lunch-hour consumer rights social media activists, I personally don't want to see off-the-cuff politically motivated regulations put in place where business solutions can be implemented.