The Latest in a Series, Apparently, On "How Texas Is Dominating the Recession"
First, there was The Economist wondering how Texas had kicked California's economic ass. Then, Fortune examined how "Texas powered through the global fiscal crisis." Now it's The Atlantic's turn at the plate with this piece that wonders how in the heck "Texas is experiencing something like an economic boom" while the rest of the country suffers.
Derek Thompson offers four familiar reasons. So, with a tip o' the Stetson to Macro and Other Market Musings, let's just skip ahead to the last one:
4. Something About Texas
Maybe it's the lack of a state income or capital gains tax. 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. There's something about Texas that makes it the most popular place for business to do its business, as CEO Magazine and CNBC both found the last year. As Brooke Rollins, president of the Texas Public Policy Foundation, told me: "Our research shows that the more tax incentives and less regulation you have, and the less likely businesses are to get sued, the more likely it is they'll want to come and prosper in your state."