The Electoral College was created as a way to protect the elite from the poor. The elite did not want the poor people of society to have too much power. They were afraid that the poor would try to use the government to take money away from the rich. For that reason they created an indirect democracy that allowed the elite to be protected and poor to feel they have some control over the government. Another reason that the Electoral College was created is to it allow small states to have several votes in the election for president. If they did it by population, small population states would not even matter to candidates and would be completely ignored. They are already some what ignored, but they would not matter if it was done by population.
I personally believe the Electoral College is fair and without it we would have quite a few problems. The first reason I believe that is because there will always be an immediate outcome. If we were to vote for president with the popular vote, the candidates will always ask for recounts to try and get more votes which will extend the process and complicate it. The second reason is that makes it so the president cannot just be popular within a particular region of the country. That is because of the amount of votes you need to get in order to become president is greater than any, one region of country can give. The third and final reason is that it helps prevent runoffs that could occur if we elected the president from popular vote. One example of this is the 1992 election between Bill Clinton and George H. W. Bush, (Source). For these reasons I think the Electoral College is fair.