A new survey concludes that California is most anti-business state, but it can't explain why it's also the fastest-growing.
Conservative economic pundits just love to justify “business-friendly” policies to state governments as keys to job growth, which after all is the whole ballgame in economic policy-making.Notwithstanding the dismissal of California’s business friendliness in the Chief Executive survey, the state’s economic growth outstrips the four states at the top of the magazine’s rankings.
By that standard, “Rich States, Poor States” has been dead wrong every year: In all but one edition, California ranked among the worst seven states, while outpacing the top-ranked states in economic growth year after year after year.If you happened to check out the latest ranking of states for their “economic outlook” published last week by the right-wing political group ALEC, you would be excused for concluding that California is deep in an economic hole and digging itself deeper.
Deregulation is alluring for CEOs who run polluting industries, not so much for those whose companies are incumbents in highly regulated fields — for them, regulation can be a way to raise the bar against new competitors.As for “talent availability,” if that means access to a well educated workforce, it militates against low taxes, which often leave K-12 and public higher education systems starved for funds.
Economic growth in California has outstripped that in Texas, Florida, Tennessee and North Carolina, which ranked higher in a recent CEO survey.Naysayers often cavil that California’s economic growth depends almost entirely on Silicon Valley and the capital gains income of its wealthiest residents, but its primacy in high technology encompasses fields outside Northern California, such as biotech.
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