California’s Greek Tragedy: Massive Reforms Needed to Reverse Decline

Michael J. Boskin and John F. Cogan at the Wall Street Journal: California’s rising standards of living and outstanding public schools and universities once attracted millions seeking upward economic mobility. But then something went radically wrong as California legislatures and governors built a welfare state on high tax rates, liberal entitlement benefits, and excessive regulation. The results, though predictable, are nonetheless striking.