UCLA professor Lee Ohanian argued on “Mornings with Maria” on Monday that California’s mass exodus is “really just a matter of simple economics.”
“California’s becoming too expensive and too inefficient compared to alternatives,” the economics professor said.
He added that “the root cause” of the exodus out of the state is because of “a failure of governance by state policy makers that’s created the 48th worst tax climate in the country and the 48th worst regulatory burden.”
“Those regulatory burdens include regulations that make it extremely difficult and extremely expensive to build housing,” Ohanian, a senior fellow at the Hoover Institution, noted.
The Hoover Institution is “a public policy think tank promoting the principles of individual, economic, and political freedom,” according to its website.
Several large firms, including Oracle, Tesla and Hewlett Packard Enterprise have recently announced their plans to leave the Golden State.