California’s Vanished Dream, by the Numbers

California’s Vanished Dream, by the Numbers
Tents are lined up on the sidewalk in front of the non-profit Midnight Mission's headquarters in Los Angeles on Nov. 25, 2021. Apu Gomes/AFP via Getty Images
Joel Kotkin
RealClearInvestigations
Updated:

Even today amid a mounting exodus among those who can afford it, and with its appeal diminished to businesses and newcomers, California, legendary state of American dreams, continues to inspire optimism among progressive boosters.

Laura Tyson, the longtime Democratic economist now at the University of California at Berkeley, praises the state for creating “the way forward” to a more enlightened “market capitalism.” Like-minded analysts tout Silicon Valley’s massive wealth generation as evidence of progressivism’s promise. The Los Angeles Times suggested approvingly that the Biden administration’s goal is to “make America California again.” And, despite dark prospects in November’s midterm elections, the President and his party still seem intent on proving it.

Joel Kotkin is the Presidential Fellow in Urban Futures at Chapman University and executive director of the Urban Reform Institute. He is the author of “The Coming of Neo-Feudalism: A Warning to the Global Middle Class.”
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