absence of term limits only creates an uncertain option for electeds, not an obligation that binds them to the consequences of their actions. if an elected wants to behave like homo economicus, she can vote for the privatization then move onto a sinecure with the utility or a related party. 1/

i don't doubt that a legislator whose expected tenure is very long might take a more long-term view of things. but with or without limits, we have no way of reconciling meaningful democracy, legislator career freedom, and an expectation of tenure that would discipline cynical short-termism. /fin