To keep things in perspective, California has a GDP per capita of $74,000. There are only two nations that can compare to that: Norway and Switzerland. It's nearly 100% higher than France, the UK and Japan.
Romania's GDP per capita is ~$10,700. They've made great strides in building up their economy in the past two decades. Their 21% GDP growth since 2007 is among the best in Europe. Per capita they rank above Mexico, Brazil, Turkey, China and will pass Russia this year or next.
California's problems aren't due to lack of income or economic output to tax, and it can afford a bit of drag on its economy from mediocre roads given the extraordinary output levels in question (which isn't to say CA shouldn't fix its terrible roads). California is a case of mismanagement of riches over decades, which isn't a position that Romania has (yet) found itself in.
>Their 21% GDP growth since 2007 is among the best in Europe. Per capita they rank above Mexico, Brazil, Turkey, China and will pass Russia this year or next.
Can you elaborate. AFAIK after privatization in '89 (fall of the communist party) we kind lost a lot of industry in metallurgy, marble extraction (got owned by big guys) etc..
Romania's GDP per capita is ~$10,700. They've made great strides in building up their economy in the past two decades. Their 21% GDP growth since 2007 is among the best in Europe. Per capita they rank above Mexico, Brazil, Turkey, China and will pass Russia this year or next.
California's problems aren't due to lack of income or economic output to tax, and it can afford a bit of drag on its economy from mediocre roads given the extraordinary output levels in question (which isn't to say CA shouldn't fix its terrible roads). California is a case of mismanagement of riches over decades, which isn't a position that Romania has (yet) found itself in.