Lone Star Jobs Picture

by Laura Ehrenberg-Chesler on June 16, 2011

in Economic Indicators,Employment,Fiscal Policy

On the Opinion page of  the June 10th edition of the “Wall Street Journal”, there is an analysis of why Texas has been the leader in adding new jobs since the recovery began.   In this piece Richard Fisher, president of the Federal Reserve Bank of Dallas, argues that Texas is doing so well relative to other states precisely because “it has rejected the economic model that now prevails in Washington….”

Texas accounts for 45% of net U.S. job creation.  Mr. Fisher believes “Texas stands out for its free market and business-friendly climate.  Texas has no state income tax.  Its regulatory conditions are contained and flexible.  It best online casino is fiscally responsible and government is small.  It is open to global trade and competition.”  In addition, one of the huge competitive advantages enjoyed by Texas is its ongoing reform of the Tort system.  Texas was also not hurt as badly in the housing downturn because it has a rule in place that limits mortgage borrowing.

We have also argued often on this blog page that the National economic recovery would be more robust with a business friendly/small government/low taxes approach.  Apparently there is now hard evidence, as witnessed by the Texas economy, that this does make a positive difference.

Leave a Comment

Previous post:

Next post: