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Credit: UC Santa Barbara
California, for so long a beacon of prosperity and fortune, is flagging in its ability to deliver on the promises that have attracted multitudes since the early 20th century. After decades of expansive growth, changes in priorities and governance have led to conditions that have become untenable for businesses and individuals, leading many to leave the Golden State, and causing others to reconsider their residency. On top of that, investment in the state’s infrastructure has been poor as the population has grown, leading to costlier measures down the line.
That was some perspective from Lee E. Ohanian, professor of economics at UCLA, senior fellow at the Hoover Institution at Stanford University, UC Santa Barbara alumnus and guest speaker at the recent installment of EFP Informs, a webinar series presented by the UC Santa Barbara Economic Forecast Project (EFP).
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