The recent announcement that California led the nation in losing domestic migrants may seem like another nail in the Golden State’s coffin. 

It’s just another piece of bad news for a state that, despite having the most billionaires in the world, suffers the nation’s highest poverty rate, per recent Census data.

The state’s young people are faring poorly: Among teenagers, the unemployment rate tops 21%, just short of twice the national average. 

And for those under 30, California’s jobless rate exceeds that of every other state except for Mississippi.  

So, is the onetime capital of the future finished? 

If it stays on the current path, with ever-expanding government, poor job creation, miserable schools, and growing inequality, it could well be game over. 

But decline is not inevitable, if the state can reform itself.

After all, no state in the union –– and maybe no place on Earth –– intrinsically has more going for it than California. 

Besides its splendid climate (it’s OK to gloat) and magnificent scenery, the state retains unmatched human capital: From super-geeks and rocket scientists, to artistic talent and innovative entrepreneurs in everything from agriculture and food to architecture and fashion. 

But today, this brilliance mostly enriches a few. 

Instead, our innovative spirit needs to be deployed more broadly, in ways that offer opportunity for the vast, and slowly ebbing, middle class. 

This means a shift from the ephemeral economy epitomized by firms like Google and Facebook back to making real products. 

This can be done, as evident in places like El Segundo and Long Beach, both........

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