SpaceX Spinoffs Launch El Segundo into Economic Orbit
Our lead in space still provides a means to re-establish California’s fading hold as the epicenter of innovation and human progress.
El Segundo’s Chris Pimentel may be California’s happiest mayor. As his counterparts in Los Angeles, San Jose and San Francisco struggle with budgetary nightmares, Pimentel has at his disposal rising revenues, a booming job market and an energetic business community.
The reason: His small town of 17,000 south of LAX is the birthplace of SpaceX, and has emerged as the aerospace startup mecca in Southern California.
“We try to reduce friction,” Pimentel, who served with the Marines in Iraq, suggests. “It’s a whole city effort; this is a city that likes business.”
Economic Dynamism
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Social Mobility Wins
When people live within an environment offering good jobs, good education, social networks, and a culture of self-improvement and hard work, they experience progress in a way that undercuts the philosophical rationale that socialists need to justify the policies they advocate.
Kevin Warsh and the Future of Fed Communication
Warsh is right that the Federal Reserve should not speak so loudly that it hears only its own echo.
