LA Times Editorial on Jerry Brown and the State Bank Idea!

Reviving California’s economy: Meg Whitman versus Jerry Brown
Harold Meyerson • August 17, 2010

For all their differences, Meg Whitman and Jerry Brown agree on one thing: California needs an industrial policy.

During Jerry Brown’s first term as governor, a number of California economists argued for establishing a state bank, but the idea never took off. California needs one now a lot more than it did in 1975. Brown’s current ideas are, on balance, better than Whitman’s when it comes to rebuilding the state’s economy, but they too will fall short without a plausible source of funding. The question will be whether Californians can summon the will, as they did throughout much of their history, to create the policies and commit the funds to reconstruct their state.

Read the entire article here.

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