Chris sends my way this article on how too much government has been slowly sucking the blood out of California. I wonder if California suffers from a kind of resource curse. Normally, the resource curse is used to explain why countries with an abundance of natural resources have underperforming economies and corrupt governance. In California’s case, it has great weather and an abundance of natural beauty that attract individuals despite its terrible government. In particular, this (in addition to the innovation clusters, whose creation owes some thanks to the state government) leads to many productive people deciding to live in the state, increasing the pool of human capital, which in some sense, is another resource for the state to use to help subsidize and offset its mismanagement. As the article states, 200,000 Californians provide the state with roughly 25% of its revenue.
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