One could argue that Hamilton's elected president for life is little more than a dictator.

Hamilton's President for Life still needs the Congress to enact laws, appoint the Supreme Court and pass the budget. Unless he chooses to rule by executive order. And even then he can be impeached.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes