Searching for the One-Handed Economist
As Carla Marinucci reports in the San Francisco Chronicle, a debate has flared among economists on the effects of Meg Whitman’s plan to revive the California economy. A liberal think tank produced a document written by liberal professors calling Whitman’s plan flawed. A conservative economist responded that the plan would jump start the economy.
This back and forth of different economic views reminds me of the famous quote by President Harry Truman who wanted to consult with a one-armed economist. The president was tired of economists advising him, "On the one hand this could happen… On the other hand that …."
The report by UC Berkeley economist Michael Reich that started the brouhaha argued that Whitman’s plan to cut capitol gains taxes would deprive the state of billions of dollars in revenue. In addition, Reich claimed that California is not the unfriendly business climate that Whitman talks about.
The Golden State’s War on Itself (Part 2 of 2)
Cross-posted on NewGeography.com. Read Part 1 here.
The second engine that could supposedly keep California humming was
the so-called green economy. Michael Grunwald recently wrote in Time,
for example, that venture capital, high tech, and, above all, "green"
technology were already laying the foundation of a miraculous economic
turnaround in California.
Though there are certainly opportunities in
new energy-saving technologies, this is an enthusiasm that requires
some serious curbing. One recent study hailing the new industry found
that California was creating some 10,000 green jobs annually before the
recession. But that won’t heal a state that has lost 700,000 jobs since
then.
The Story Of How The Bell Scandal Broke: An Account From LA Times Reporter Jeff Gottlieb
Cross-posted on PublicCEO.com
The world of local government shook on July 15.
It was the day that two Los Angeles Times journalists, Jeff Gottlieb and Ruben Vives, broke the shocking story of corruption in the small city of Bell.
"Bell,
one of the poorest cities in Los Angeles County, pays its top officials
some of the highest salaries in the nation, including nearly $800,000
annually for its city manager, according to documents reviewed by The
Times."
Still waiting for reasonable policies to launch long-term job creation
In the closing weeks (or months) of California’s 2010 legislative
session, there are some easy decisions to make in a morass of tough
budgetary ones. Lawmakers can get control of the state’s spiraling
regulatory environment and reconsider simple concepts on economic
analysis on new and existing regulations.
Dozens of bills died in the last few months that would demonstrate the
state’s commitment to improve government decision making and signal
that California welcomes long-term job creation and economic growth.
What can possibly be wrong with arming a jobs-sensitive legislature
with job-impact information so they can make informed decisions?
A flyer — titled Still Waiting — and a copy of a previous letter
— supported by more than 350 companies — were distributed this week
to the Legislature to reinforce that the employer community is still
waiting for these very simple and obvious measures.