Free Information

Would it be wise to have a free flow of information available for everyone? I don't think so, it could bring along a lot of innovations, but it could also cause a lot of misery if people who don't understand things on a higher level are given access. This is why I believe that information shouldn't be out in the open. Keeping the latest technology and insights secret will help mankind to be able to adapt to it, when the controllers of information slowly inform people about its possibility's.
Back in the ancient time the intellectual leaders had a way to keep the secrets of banking, engineering, medicine and metallurgy in different 'occult' groups. This way only a fraction of the population knew how to construct buildings and infrastructure. When an order was giving to build a building one could be sure of it being of the highest quality.
So, why should we encourage a free flow of information. In my opinion it could only cause a decrease in reliability and quality of information usage.