In 1693, as related by economist Moshe Milevsky in his book King William’s Tontine, King William of England (actually a Dutchman and formerly William of Orange) sold to investors an interesting financial product.  Each buyer was a member of a pool of buyers that immediately received a “dividend” on their investment of 10% per year. … Read more

Previously Published in CERF’s September California Economic Forecast There are no surprises in our California forecast.  There aren’t any changes either.  We expect California to continue plugging along as it has for several years now.  The growth on average will be slow, but the Bay Area will do better. We don’t see much upside potential. … Read more

Previously published in CERF’s September 2016 Economic Forecast publication: I have complained for years that California’s economy is not performing as it should, and it’s not working for a large part of the population, young people, minorities, less educated workers, even much of the middle class.  Those who disagree with me point out that, measured… Read more

Previously Published in CERF’s September 2016 California Economic Forecast: It’s time for another presidential election.  Each candidate is promising new initiatives that will bring prosperity to Americans.  So, we’re forecasting vigorous economic growth?  No. Our forecast is pretty much the same as it’s been for years, anemic economic growth as far as we can see.… Read more

Previously Published by Bill Watkins in the September 2016 California Economic Forecast A decade of slow or declining economic and job growth has been accompanied by fundamental changes in America’s job composition.  Those changes have caused profound disruptions in the lives of millions of workers, primarily low-educational-attainment workers, and their families. The situation is not… Read more