The Half-Life of Politicians

It used to be so simple. Before the rise of democracy, kings and emperors ruled until they died or were overthrown by invasion or rebellion. If they abdicated, it was usually under intense pressure, which removed them from any further public role even if they were allowed to go on living. But democracy has allowed a new species to flourish—the former head of state or head of government who wishes to continue politically activity after completing his or her elected term of office.

Of course, not all former presidents and prime ministers want to stay in the political limelight. Some, like Brian Mulroney and Nicolas Sarkozy, prefer what has been called the “dash for cash,” making some “real money” after years of surviving on salaries for public service that are small compared to what top business leaders earn. They serve as board members, business advisors, rainmakers, door openers. Others, such as the already wealthy George W. Bush, are happy to retire to quiet public...