- Help
- •Contact us
- •About us
- •Sitemap
- •Advertise with the FT
- •Terms & Conditions
- •Privacy Policy
- •Copyright
© The Financial Times Ltd 2012 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
Christopher Caldwell writes a weekly column on politics, culture and international affairs for the Financial Times.
One man stands between California and a bleak future
A bias towards stimulus and away from austerity has proved disastrous for California