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Economic Improvements in California - Essay Example

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Bloomberg writers Michael Marois and Shin Pei write about the significant economic developments in California over the past four years and the role played by Governor Jerry Brown during this period. One key point of the article is that California is surpassing Brazil in terms of economy scale…
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Term Paper Bloomberg Michael Marois and Shin Pei write about the significant economic developments in California over the past four years and the role played by Governor Jerry Brown during this period. One key point of the article is that California is surpassing Brazil in terms of economy scale. Another key point is that Brown leads California during this economic improvement as he “steers [California] away from” tenacious shortfalls and a national financial downturn (Marois and Pei 2015). A third point is that Brown’s administration has maintained this drive beginning 2013 when it passed Russia and Italy in terms of commodity and service valuation. Fourthly, Brown’s economic achievements emerge after World Bank predicts a decline in global growth in 2015. Lastly, the writers note that California’s economic rebound occurs after Mitt Romney assertion of the state’s failure because of tax raises and budget deficits (Marois and Pei 2015).
Marois and Pei differentiate between opinion and facts. The article is full of statistical evidence from cited reports published by acknowledged institutions such as World Bank, U.S. Census Bureau, and the Los Angeles County Economic Development Corp (Marois and Pei 2015). It is difficult to identify any political bias in the article because of the use of numerous statistical findings. However, a likely political bias in the article is Marois and Pei ‘s observation that Brown’s “proposed state budget show the gains” is purely personal (Marois and Pei 2015). The writers offer no evidence for this observation, which adds more suspicion to the fact that the revise figures will not be available until June 2015 yet this article was published in January. From this perspective, one can easily question why the writers did not wait for the revised figures to observe Brown’s “gains,” which brews a republican agenda when discussing big governments (Marois and Pei 2015).
The economic development and related political figures are very important to California. This importance shows the results of efforts made to improve infrastructure and alleviate unemployment and poverty. More specifically, living standards in California are high in comparison to other states. Californians living on and below the poverty threshold might not be thought of as poor in states such as Seattle and Texas. Clearly, the article sheds light on an issue California residents find important (Marois and Pei 2015). The fact that California’s economy is surpassing national, European and Far East economies should instill pride in the public.
I agree with Marois and Pei that California’s economic advancements are more than newsworthy. However, attributing these developments to Brown only stirs up political debate. Comparing a state to national economies reveals the writer’s relatively poor understanding of debt and its positive and negative characteristics. For instance, Italy recently underwent a light economic turmoil that California had undergone seven years ago (Marois and Pei 2015). The cyclical nature of markets and currency helped in recovering California’s economy before Greece because of their five-year period difference.
In conclusion, economic improvements that California is and has been experiencing recently have more to do with economics than politics. Increasing jobs, property appreciation, and increasing individual and corporate pays contribute the most to California’s economy. Marois and Pei relate Brown’s political contributions with California’s reduced deficits and increased employment rates. This relationship is true technically and in terms of policy. However, basic economics indicate that economic downturns are cyclical. As a result, California was relatively bound to bounce back, particularly when such a big state has numerous natural resources. As a result, an ideological bias towards Brown or the Republican Party surfaces.
Works Cited
Marois, Michael B. and Pei, Shin. California Zooms Past Russia, Italy and Soon Brazil in Economic Might. 2015. Bloomberg. Web. 2015, January 20. Read More
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