Ronald Martinez/Getty Images North America
In The Lone Star State, home to The Longhorns, the economy has been bullish.
In The Lone Star State, home to The Longhorns, the economy has been bullish. Ronald Martinez/Getty Images North America
The Atlantic's Derek Thompson took a trip to Texas, to find out why The Lone Star State has weathered the economic recession better than the rest of the U.S.
"No state is thriving in the wake of the Great Recession," he notes. "But compared to the rest of the country, Texas is experiencing something like an economic boom. Pick your category, and Texas dominates."
What accounts for its success, relatively speaking?
Thompson says that the recession hit Texas late, on the heels of an energy boom; real estate prices have remained stable; there is a wide variety of industry, from energy to high-tech to health care. Perhaps most importantly, there just seems to be "something about Texas."
"Maybe it's the lack of a state income or capital gains tax," he concludes. "Or the dearth of union workers. Or the plentiful labor supply on the border of Mexico, or the lower wages, or the stable and lean regulations."
It's a fascinating piece of analysis. You can read it here, in its entirety.