The Richardson File

Sorry for the massive server troubles over the past week. I believe we are back and expect no further problems.
Steve Terrell of the Santa Fe New Mexican wrote an interesting piece discussing Governor Richardson’s claims of having increased the number of jobs in New Mexico by 80,000 as Governor. A number of economic policy experts (including myself) are quoted throughout the story to determine how much credit the Governor should receive for new jobs in the state and the economic growth that has taken place here.
The ulitmate point of our studies of New Mexico’s economy is that elected officials exert only a limited amount of control over the short-term health of the economy. External factors like oil and gas revenues can cover up the effects of mistakes elsewhere, just as a recession could make a governor look worse than they really are.
Unfortunately, New Mexico’s long-term economic struggles are the direct result of a lack of economic freedom.

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