Consumption and Real Estate
Is Nevada proof that being too “business-friendly” can harm a state?
Question : Is Nevada proof that being too “business-friendly” can harm a state?
Back in the early 1990′s, Nevada rewrote its tax and legal codes, with the goal of making Nevada the easiest place in America to do business, set up a company, and so on.
For a while, it succeeded – without much regulation, all sorts of speculators and home-builders and fly-by-night operations moved into the state. Las Vegas was a boomtown – between 1995 and 2005, it was the fastest-growing large city in all of America. The metro area went from around 800,000 to 1.8 million in a short span of time.
However, a lot of this was built on top of a bubble. Today, Nevada’s unemployment rate is 14.4% – the highest in America. Higher than Michigan. Despite the low taxes and lack of regulation, people and companies are avoiding Nevada.
Does this prove that being too business-friendly can actually lead to a boom-bust cycle that ends up hurting a state?
Nevada lacked a strong set of regulatory agencies that could have slowed down the rise of the bubble by auditing things like mortgage applications, or doing more construction inspections (and thus forcing construction companies to hire legal workers instead of illegals, and to repair code violations).
Why didn’t Nevada take these measures?
“They were attacked and ‘boycotted’ by other states (which is totally unconstitutional) for trying to enforce FEDERAL immigration law.”
No, they most certainly were not. You’re thinking of Arizona.
“If you are looking for the cause look no farther than Freddie Mac/Fannie Mae and Barney Frank and Chris Dodd.”
Nope, that’s not a good explanation. If it were, every single state in America would have had the same bubble as Nevada – but Nevada is unique in terms of the size and intensity of its own local bubble. This was due to lax local regulation, zoning, etc.
home inspection las vegas
Best answer:
Answer by 63vette
No.
Nevada got caught in the real estate and sub-prime fiasco like everyone else.
If you are looking for the cause look no farther than Freddie Mac/Fannie Mae and Barney Frank and Chris Dodd.
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#3 written by Uncle Hussein 1 year ago
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#4 written by No tolerance for stupidity. 1 year ago
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#6 written by More fed up then you 1 year ago
No it does not prove that being business friendly is the cause.
Just because you claim that the laws were all done in order to help business in general and none of them were created just to help certain special interests or to do some other underhanded ANTI business activity does not prove that was the actual case.
They were attacked and ‘boycotted’ by other states (which is totally unconstitutional) for trying to enforce FEDERAL immigration law.
And if you try and claim that that is not the cause then you need to show proof that it was specifically because of being business friendly and not for some other cause and I see no such proof.
You are right, I was thinking of Arizona, sorry…my bad…
But the rest of my post, still stands.
Also Nevada still legalizes prostitution, if they followed G-ds laws instead of mans anti G-d laws, they would be blessed with far greater prosperity.And you are wrong about only Nevada having a bubble, every state (Except Alaska under Sarah Palin) had such a bubble. If Arizona’s was bigger it was because their economy was growing faster and had more to, loose when the libs dragged the whole country down, NOT because they were friendly toward business.
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#7 written by Nothing Wrong With Liberals 1 year ago
No, because the most business friendly place in the world (and often cited as the greatest experiment in laissez-faire capitalism in the world) is Hong Kong, and their economy is perfectly fine.
Note: Just because they’re capitalistic doesn’t mean they live in a democracy. It is still impossible or very hard to vote for legislators in Hong Kong. - Comment Feed for this Post
I have lived in Nevada all of my life except for 8 years while I was married. You hit the nail right dead center on the head! Businesses don’t move here because of 1. Lack of adequate-educated work force. 2. Nevada has the worst schools in America. 3. White collar crime is rampant here, and all the cops are out bustin’ hookers, and druggies, or they’re killing civilians like Erik Scott, just to prove they’re “in charge”.
If I wasn’t already here, I wouldn’t live here. I plan to move by 2013, or sooner if I can manage it on the fly…