I think the baseball Hall of Fame needs objective standards to decide who gets elected in. The decisions have always been subjective, with no definitive standards, using the democratic process instead. The voters in the panel may be intelligent on the sport, but their electibility standards can vary drastically from one another. That's the main reason objective standards need to be established for the Hall of Fame.

I think using a point system would be most beneficial. For example, you get X amount of hits, X amount of home runs, X average, etc, and those numbers earn a specific amount of points. If the player earns a high enough total points, then he gets elected. This way the election process is based strictly on performance and not on any subjective reasoning.