Why Is California Losing Good Jobs to Other States? It’s Not Rocket Science
The system that made California dynamic and prosperous for so long is now broken and backward-looking.
For a century, it worked, and brilliantly. The “California model” rested on massive investments in higher education, development of industrial zones in places such as the South Bay and Silicon Valley, and persistent upgrading of basic infrastructure.
Yet the system that made California dynamic and prosperous for so long is now broken and backward-looking. The state still provides ample opportunities for technological and financial elites but leaves behind a broad spectrum of the middle and working classes.
This failure is reflected in the state’s poverty and unemployment rates (both the highest in the nation), and its tepid job growth. Meanwhile other states — Texas, Florida, Arizona, the Carolinas and Tennessee, for example — have copied the California model and they have done it, as Californians once did, based on the goal of lifting up all classes. Long reactionary in their politics and social structure, these states’ business-friendly policies now have something to teach the progressive Golden State.
Economic Dynamism
The Causal Effect of News on Inflation Expectations
This paper studies the response of household inflation expectations to television news coverage of inflation.
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The Rise of Inflation Targeting
This paper discusses the interactions between politics and economic ideas leading to the adoption of inflation targeting in the United States.
Demystifying the New Deal
Carola Binder reviews False Dawn: The New Deal and the Promise of Recovery, 1933–1947 by George Selgin
Trump’s Factory Revival Is Happening
Think what you will of President Trump’s chaotic-seeming tariff policies. The ostensible goal — the revitalization of US manufacturing — is of decisive importance for the success of the nation.
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State Capitalism with MAGA Characteristics
The notion of government “partnering” with industry isn’t new, and it ends with taxpayers on the hook, politicians dictating corporate strategy, and competitiveness compromised.
Creating Affordable Housing Requires Just One Simple Legislative Change
For nearly 50 years, federal, state, and local governments have tried to improve housing affordability without addressing the core issue of high construction costs.
