With all of this unfunded government spending, Keynesian-Democratic thinking would predict that California's economy should be booming. It isn't.This resembles what economists call a "natural experiment." That is, a situation they did not control but which enables them to test an hypothesis suggested by theory.
At 10.8 percent, California has the third-highest unemployment rate in the country. There are fewer private-sector jobs in the state today, 11.9 million, then there were in 2000, 12.2 million.
California experienced what Keynes prescribed and floundered, while Texas experienced non-Keynesian minimalist government and flourished. Result: Keynes debunked.
