Paul Jacob shares a story:
I talked about the group last summer, when ABTL was little more than an idea. They were looking for candidates who would not only vow to limit their terms in office, but also agree to forfeit a big chunk of their assets if they break their word.
And now someone has done just that: Will Breazeale, a North Carolina Republican. He’s seeking votes in next year’s election, hoping to represent the state’s seventh congressional district. In October, Mr. Breazeale formally executed a bond for $250,000 in a ceremony before the Board of Elections Office in New Hanover. If he tries to serve more than three consecutive terms, the money goes to charity.
I tend to favor the idea of term limits. But I bet you could easily write down a model showing that they are “inefficient.” In any case, it is all too rare to see people buck up for their beliefs. How many peak oilers are long oil? How many climate alarmists are investing in malaria drug companies?