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A tale of two economies, Texas and California- one with a liberal Democrat as governor and the other with a conservative Republican
06/03/2015
Both states are thriving economies, California with its tech industry and Silicon Valley, Texas with the energy industry and tech companies in the Austin area. Texas has diversified since the 1980's reducing the portion of GDP coming from the energy industry to 13% from 19%, and direct employment in the oil and exploration industry from 4.5% to 2.5%, according to the Federal Reserve Bank of Dallas. Experts say this shows states can thrive on either a low regulation, low taxes model or a higher taxes, increased regulation model. Critics point to weakness in education, and low wage jobs in Texas.
Grouped Articles
As the ‘Texas Miracle’ Fades, a Closer Look at Policy
New York Times 06.03.2015
Big government is the new West Coast craze
Washington Post 11.06.2016
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