The benefits of a shorter term are diffuse. The benefits of a longer term are concentrated. This is a case where representative democracy often breaks down - po

The benefits of a shorter term are diffuse. The benefits of a longer term are concentrated. This is a case where representative democracy often breaks down - policy A would be better for almost everyone, but not by enough for them to switch their vote on, whereas policy B is better by enough for a few people to make them single-issue voters. So we get policy B.