Are “Automatic” Budget Cuts Really Automatic?
Is anyone else starting to wonder just how automatic California’s planned “automatic” budget cuts are going to be? Especially when Gov. Jerry Brown, the Legislature and state finance officials, channeling their inner Bill Clinton, seem to be suggesting that a cut-triggering budget shortfall depends on what your definition of what — and when — “shortfall” […]
Could Limit on Genetically Modified Food Be the First Global Initiative?
The notion of citizen-initiated legislation on a global scale has always been a pipe dream. But it may be closer than you think. One signal is the filing earlier this month of a California ballot initiative to require labeling of genetically engineered food. The measure resembles proposals that have been discussed in Europe for an […]
Is CA Cap & Trade New Smoot-Hawley Act?
Crossposted in CalWatchdog Nowadays almost no economists back trade protectionism. Free trade is the norm. The example of damaging protectionism most cited is the Smoot-Hawley Tariff Act of 1930. According to Wikipedia, it raised to record levels tariffs on 20,000 imported goods. Retaliatory tariffs by U.S. trading partners resulted in both imports and exports being […]