Market value and value are different things. Value is how much a product is socially necessary, and how hard it is to produce. Market value then is what people end up paying for it in a free market. They are often different, but in aggregate for the whole end up being the same.

Your conclusion makes no sense. California can’t afford the policies because states don’t print their money, the federal government does. And California doesn’t get much help from the federal government. So it’s constrained by what it can tax locally.

Those policies would work perfectly and cause no budgetary issues if the federal government paid for them by printing money.

The massive printing of money from 2008 to COVID really not make people realise that? We CAN pay for everything. The government just has to print for the money, and use it for that instead of bailing out the capitalists over and over.