Greetings from Bogota where I’m participating in an economic conference and teaching two class sessions.
Under the banner “Latin America News” the Wall Street Journal has poured out its pain that the people of Ecuador might reelect President Rafael Correa. The article is actually an editorial attacking Correa and the people of Ecuador for potentially voting to reelect Ecuador’s most successful President in the modern era.
The issue is term limits. I have always opposed term limits as an obstruction to democracy and competence. The U.S. had no presidential term limits for most of its history and the only president the population chose to elect to more than two terms was Franklin Delano Roosevelt – one of our greatest presidents. I am deeply thankful that our Nation had the great good sense to reelect FDR to four terms in office.