Last year, personal income growth was 0.0%, the lowest in the country. And Louisiana had the third highest net out-migration in the country. Louisiana is in desperate need of a comeback.
Current so-called “solutions” to the problem are unlikely to work.
The Legislature increased spending to an unnecessary extent, ignored calls from some to use their surplus of funds from 2022 to go to a “rainy-day fund” in the event of unforeseen circumstances, and have spent as though we expect our population to grow in the future (which is very unlikely given previous trends).
Louisiana needs real solutions that actually increase personal income, bring people into the state (or at the very least, keep those who are already here) and encourage meaningful employment and entrepreneurship to the area.
Continue reading at The Center Square.
Justin Callais, PhD, is the Chief Economist at the Archbridge Institute. He leads the institute’s “Social Mobility in the 50 States” project and conducts original research on economic mobility, economic freedom, economic development, and institutional analysis. Follow his work @JustinTCallais and subscribe to his newsletter, Debunking Degrowth.
Economics of Flourishing
Last year, personal income growth was 0.0%, the lowest in the country. And Louisiana had the third highest net out-migration in the country. Louisiana is in desperate need of a comeback.
Current so-called “solutions” to the problem are unlikely to work.
The Legislature increased spending to an unnecessary extent, ignored calls from some to use their surplus of funds from 2022 to go to a “rainy-day fund” in the event of unforeseen circumstances, and have spent as though we expect our population to grow in the future (which is very unlikely given previous trends).
Louisiana needs real solutions that actually increase personal income, bring people into the state (or at the very least, keep those who are already here) and encourage meaningful employment and entrepreneurship to the area.
Continue reading at The Center Square.
Justin T. Callais
Justin Callais, PhD, is the Chief Economist at the Archbridge Institute. He leads the institute’s “Social Mobility in the 50 States” project and conducts original research on economic mobility, economic freedom, economic development, and institutional analysis. Follow his work @JustinTCallais and subscribe to his newsletter, Debunking Degrowth.
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