April 21, 2016
The complete lack of public debate over this policy decision harkens back to the smoke-filled rooms of old-time power politics, where the public had little say over what actually happened in the halls of power. And in the rush to shove this measure forward without any deliberation, the state is now forced to bear a policy that will, in all likelihood, do more harm than good to the very people the state is trying to, in theory, help. . . The real shame is that California continues to play with a policy tool that has a proven track record of not working when there are plenty of policy options that do. Pre-kindergarten education is a pricey but proven winner. The Earned Income Tax Credit is another potential option with a proven track record. But these programs cost money and that means either asking for tax hikes or taking money from other uses—options no one in Sacramento seems to be able to stomach.
Rent control can have a negative impact on low-income households not living in rent-controlled units through higher growth in citywide median rents. Rents are too high because multi-family housing and the state’s housing stock have failed to expand
commensurately with the ever-growing population. The solution to this affordability problem is to expand the apartment stock in these cities, not introduce price ceilings.
Dec. 3, 2015
The harder part, especially for states like California that rely so heavily on high-skilled workers, is to keep the momentum going when there is no slack in the system to draw from. Not only will education be a critical area of focus, but the state’s employers will also have to recruit skilled workers from other parts of the nation and world.
And, as Beacon Economics has pointed out for some time, that will require addressing the chronic under-supply of housing and keeping home price growth in check.
Oct. 6, 2015
The state’s exports of goods to foreign markets in August totaled $13.24 billion, down 9% from the $14.55 billion recorded in August 2014. By way of comparison, overall U.S. merchandise exports fell by 10.4% over the same period, while exports from Texas shrank by nearly one-fifth (19.1%).
April 1, 2015
California’s merchandise export trade was down nearly 9% in February over the same month last year, according to a Beacon Economics analysis of foreign trade data released this morning by the U.S. Commerce Department.