Nevada’s Public Employees’ Retirement System (PERS) has the best investment strategy among public retirement systems in the country and one of the best records of return. It also has one of the worst records in openness, transparency and accountability. Why? The last six years’ annual percentage returns have been 9.1, -5.1, 27.3, 8.5, 8.6 and 11.9. That’s a cumulative … [Read more...] about Free Market Watch
Ron Knecht
Free Market WatchSolutions for Some of Our Biggest Public Policy Problems
Last month, this space listed our three biggest, most challenging public policy problems: 1) excess government spending, causing inefficiency and low government productivity; 2) proceduralism, the long public review processes, slow agency response times, and delays; and 3) overreach, inherently ineffective government policies akin to pushing instead of pulling on a string. An … [Read more...] about Free Market Watch
Free Market WatchWaste, Fraud and Abuse Are Not the Biggest Problems … These Are
People often ask public officials about government waste, fraud and abuse – salient problems for sure. They’re often big problems, albeit difficult to ferret out, prove and remedy. The bigger and nearly universal problems resemble them, but are more subtle and challenging to show and remedy. Those problems are: excess government spending, leading to inefficiency and low … [Read more...] about Free Market Watch
Free Market WatchWhat Is Economic Growth and Does It Really Matter?
Recently, I tripped on a defective structure in Reno, fell and broke my hip. An ambulance took me to Renown Hospital, where I got great treatment from a wonderful staff and left four days later with my sainted wife Kathy driving. With me benefiting from strong pain meds and feeling relief and optimism on a sunny day, I waxed philosophical. I noted how smooth were the streets … [Read more...] about Free Market Watch
Free Market WatchA Toxic Belch of Swamp Gas from the Regulatory Marsh
Another belch of environmental swamp gas is rising from the depths of the federal regulatory marsh. Of course, it looks and sounds so innocent, benign and even beneficial - something Nevada investors, businesses, public investment funds, investment fund managers and citizens should welcome, not fear. But it is toxic to all of them and thus to our economy and the public … [Read more...] about Free Market Watch
Free Market WatchGov. Lombardo’s Solutions for Nevada Education
Governor Joe Lombardo has proposed record funding for Nevada education: billions of dollars in increases. He also did two other important things. First, he said our PK-12 public-school monopoly would be held to measurable improvements in student achievement or their funding increases will be reconsidered. Thus, we won’t repeat the key mistake of the past: throwing money … [Read more...] about Free Market Watch
Free Market WatchEconomic Inequality, Poverty and Income Stagnation
With Nevada’s legislature and the U.S. Congress now in session, folks hear constantly about economic inequality (the rich getting richer and poor getting poorer), growing poverty, the stagnation of most incomes, and needs for more income redistribution. The inequality myths were roundly rebutted in the last Controller’s Annual Report (CAR) in 2018 (full disclosure: authored by … [Read more...] about Free Market Watch
Free Market WatchSome Facts and Analysis of Nevada’s 2022 Vote
The Nevada Wins Political Action Committee (PAC) has done some analysis of the 2022 Nevada election results and produced some insights, summarized below. (Full disclosure: I’m President of the PAC.) At the state level, one notable fact is that independents, non-partisans and members of small parties (here, “Others”) are now clearly the largest faction in Nevada politics, … [Read more...] about Free Market Watch
Free Market WatchSlow Growth, Low Returns: US and Nevada Economic Outlook Part 2
Last month’s column reviewed four long-term trends that have long slowed US economic growth and suppressed equity investment returns and will continue to do so, perhaps even more, in coming years. They are excess public spending and excess public regulation of all kinds. It also reviewed two trends that helped economic growth and returns before the turn of the century but since … [Read more...] about Free Market Watch
Free Market WatchCasey at the Bat US and Nevada Economic Outlook Part 1
The outlook wasn’t brilliant for the Mudville nine that day; The score stood two to four with but one inning more to play. …” begins Ernest Thayer’s famous baseball poem. Unfortunately, the outlook for US and Nevada economic growth and investment returns is also not brilliant this day, and the outcome may again be: “mighty Casey has struck out.” The reason is accumulation of … [Read more...] about Free Market Watch
Proposed Tobacco Tax LawsHarming Nevada Small Business and Households
Kenneth Evans is President at Urban Chamber of Commerce Throughout Nevada, our chambers of commerce strive to create a favorable environment for every type of business imaginable. By promoting entrepreneurship, economic development, and job opportunities, we can ensure a better life for every Nevadan and their families. It’s easy to forget that when you boil it down, … [Read more...] about Proposed Tobacco Tax Laws
Industry Focus: Public Servants
From volatile elections to legislative issues, public servants face a myriad of challenges when it comes to doing their jobs. To gain a little insight into work of a public servant, Nevada Business Magazine recently had a group of Nevada’s elected officials gather at the Las Vegas office of City National Bank. Held less than a week before Nevada’s primary elections, officials … [Read more...] about Industry Focus: Public Servants
Commerce Tax Repeal: The Process Begins
Passed during the 2015 legislative session in Nevada, the Commerce Tax, or Senate Bill 483, has been a sore spot for business owners over the past two years. It’s a frustrating tax for several reasons, not the least of which is, the year before, Nevadans voted against a similar tax only to have the legislature push it through the very next year despite majority wishes. Now, … [Read more...] about Commerce Tax Repeal: The Process Begins
Time to Pay the Piper: First Nevada Commerce Tax Payment Due, Despite Challenges
Nevada’s recently enacted commerce tax has been back in the headlines, the latest dustup being a recent judicial decision that has spelled the end to a repeal effort. A coalition (led by State Controller Ron Knecht) sought to have a referendum petition placed on the November ballot − motivated by what they see as a legislative sellout of the voters who rejected a similar … [Read more...] about Time to Pay the Piper: First Nevada Commerce Tax Payment Due, Despite Challenges
Time to Kick the Kids Out of the House and Do a Bit of Damage Control
The recent passage of our state’s largest tax package, which came on the heels of a ballot in which Nevadans overwhelmingly rejected a similar business tax, makes it abundantly clear that our state politicians have no regard for the wishes of the people. And if they don’t represent us, then whom do they represent? However, the bigger question is what are we going to do about … [Read more...] about Time to Kick the Kids Out of the House and Do a Bit of Damage Control