That policy caused outrage last month when Mario Balotelli's studs-up challenge on
Criticism of that decision was particularly strong as it came on the same day that the FA upheld the suspension of Queens Park Rangers midfielder
Wenger says the current system lacks common sense and wants to see an overhaul as soon as possible.
"Basically we are in the position at the moment where if somebody takes a player's leg off, if the referee has seen it and misjudged it, the player gets away with it. For me that is not acceptable," Wenger told
"If you love football you want justice to prevail. How can it be right that
"Even if each case might make sense individually when they are explained, when you put the whole picture together you have to say it's not common sense. So there is something missing from the cohesion of the justice system.
"I am convinced that a committee with a supreme authority - an ethics committee - could rule on some cases, and make sure justice is done. They should have the power after games, in exceptional circumstances, to make a decision above the referee. Then the system would be perfect."
Wenger has had his fair share of run-ins with the authorities since he took over at Arsenal, not least in
The standard of officiating has come under the spotlight of late after several high-profile errors, and while he respects the difficult nature of the job, Wenger thinks officials need to be over-ruled more at times.
He added: "There are a lot of things that work very, very well but my main concern is that there is friction between the authority of the referee and justice in football.
"That is a grey area at the moment that has to be explored. You have to respect the referee, respect the difficulty of his job, but also put justice in the game above the referee's authority."
Meanwhile, new signing
The Gunners announced on Monday that Podolski would move to the north London club at the end of the season from his current team Cologne.
Arsenal, who currently sits third in the Premier League, may have struggled for consistency this term, but Podolski is convinced his new team can win its first league title since 2004 next season.
"There is no question that Arsenal FC is a big name in football. The aim must be to win the title next year," Podolski told a press conference in
"Arsenal have a very good coach, a good environment, they play good football, have a great stadium and have great fans.
"Therefore, this club suits me well."
Podolski's arrival at the club nest season could signal the permanent departure of Andrey Arshavin.
Arshavin is on loan at Zenit St Petersburg after falling out of favour with the Gunners, but he is in no rush to decide his future.
"I haven't yet though about (my future). Everything will be decided after the European Championship," Arshavin told Russian newspaper Sport Express.
"Of course, the result and quality of play there could affect my destiny."
Defender Bacary Sagna is convinced Arsenal can win the Premier League again next season - and would have already quit if not.