Fancy sneakers, expensive phones, avocado toast obviously!
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william baumol on line 2...
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who can say,
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Fed investment + State funding from bonds & taxes. Believe it or not, much of the population in California not too long ago had a different mindset. Reagan and Howard Jarvis, however, decided to cater to Aggrieved White people. Hence
#Prop13, and a massive prison building boom.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Costs were far lower. Less regs, less local control lawsuits, less adversarial labor relationship
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More taxes, CEQA didn't exist, cheaper labor from migrants from the rest of the country and returned military
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It would at least help if the United States could still build infrastructure that is remotely cost competitive with our international peers. Paris and Tokyo both build subways waaaaaay cheaper than we do.
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One can easily compare budgets from then and now. CA spends MUCH more on health and social services now (vs almost nothing in the 50s). Also, building 1 freeway per year can be cheaper than rebuilding all of the accumulated infrastructure of freeways built over the last 30 years.
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