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But the urgency of reform has increased since 2004. Then, California was bouncing back from an economic shock (the dotcom bust) and entering several fat years when reform might have been less painful. Because the opportunity was (mostly) squandered, California remained unprepared for the current, and more severe, shock. It must not wait for another cycle to turn.
Because so many reforms—in the initiative process, the legislature and the executive—must be tied together to have a chance of working, it is tempting to call a constitutional convention. America as a whole has not had one since 1787, but many of its states hold them quite frequently. Alaska, Connecticut, Georgia, Hawaii, Illinois, Louisiana, Michigan, Missouri, Montana and Rhode Island are among those that have had at least one since the second world war. California has not had one since 1879. The risk, however, is that in California such a convention would deteriorate into the same old food fight among the special interests, which tend to oppose reform.
The alternative is to use the same ballot box that has caused so much of the trouble. Indeed, many of the recommendations made above are being discussed by a new group called the Think Long Committee for California. Funded by Nicolas Berggruen, a wealthy international investor, this committee, half a year old, already has unrivalled cachet. George Shultz and Condoleezza Rice, Arnold Schwarzenegger, Google’s Eric Schmidt—all the state’s great and good seem to be part of it. Their deliberations will result in a string of initiatives that will be put before voters in 2012 and beyond.

A. 어휘
urgency 緊急(긴급). bounce 되튀다. bust 파산, 불황, 胸像(흉상), 상반신.
squander 낭비하다. current 현재의. severe 苛酷(가혹)한.
initiative process 국민발의. legislature 입법부. executive 행정부.
tempting 유혹적인. constitutional convention 制憲(제헌)회의.
deteriorate 악화하다, 타락하다. alternative 代案(대안).
ballot box 투표함. cachet 우수성, 특징, 공식인가의 표시.
deliberations 審議(심의), 熟考(숙고), 愼重(신중).
a string of 一連(일련)의.