By Zeeshan Aleem March in Policy.Mic
Since 2011, Minnesota has been doing quite well for itself. The state has created more than 170,000 jobs, according to the Huffington Post. Its unemployment rate stands at 3.6% — the fifth-lowest in the country, and far below the nationwide rate of 5.7% — and the state government boasts a budget surplus of $1 billion. Forbes considers Minnesota one of the top 10 in the country for business.
Given that Minnesota’s governor is a well-connected millionaire whose family controls the Target fortune, one could be forgiven for thinking this was the result of embracing the corporate world. But in fact, over the past four years, the state has undergone a series of policy reforms that most of the corporate world decries: It has imposed higher taxes on the wealthy and raised the minimum wage.
When each of these progressive policies was initially proposed, Minnesota Republicans made dire predictions about their effects on the economy, and argued that bleeding-heart concerns about economic fairness would stifle growth. Despite all the warnings, Minnesota’s economy hasn’t tanked. Instead, it’s sailing with greater force than it has in years.
How Minnesota did it: The progressive economic policies in the North Star State came into being after the election of Democratic Gov. Mark Dayton. In 2010, Dayton surprised many political observers in Minnesota when he managed to win the governor’s mansion, as the first Democrat to seize the governor’s mansion in more than two decades. His political career up until that point was mainly defined by failure, despite the fact that he was a billionaire heir with countless resources.
Read it and weep at Policy.Mic