New at Reason: Ronald Bailey on Red Ink and Green Jobs

July 1, 2010

When Gov. Arnold Schwarzenegger signed a law mandating a dramatic reduction in greenhouse gases, California’s economy was in a very different place. It was 2006. Unemployment was 4.5 percent. Thanks to inflated home values, residents felt rich. But as Science Correspondent Ronald Bailey writes, today 12.5 percent of Californians are out of work, the government is in a budgetary meltdown, and a movement is brewing to stop those carbon cuts from kicking in.

View this article.