The Real Reason Why Louisiana Is Poor

The Real Reason Why Louisiana Is Poor December 10, 2018

 

State governments matter. The United States of America doesn’t treat its states as if they were extensions of the federal government. Just look at Florida and its history of election chaos. Or the fact Massachusetts legalized gay marriage years before Washington DC recognized them. States are both incubators of new policies as well as cesspools of idiocy.

Ladies and gentlemen, I present for your viewing pleasure Why Louisiana Stays Poor.

I was surprised.

Check it out.


I read The Economist magazine when I can. (I go to the local bookstore and read a copy because I’m thrifty. Yeah, that’s the word for it — thrifty.) I learned mineral wealth does not automatically translate into having a healthy society. When you look at petro-countries, they are more or less bandito-states — Russia, Saudi Arabia, etc. Resource rich nations have a tendency of falling into corruption. The riches gained from the sale of raw resources typically goes to oligarchs and not to the common people. Of course, Norway is different because they discovered democracy before discovering oil. Strong democratic institutions can curb the deleterious effects of oil-wealth.

Hopefully Lousiana will be able to dig itself out of the ditch.

 

 

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