08 November 2013

Texas for the day

Tyler Cowen has a Time article about the Great State:
They say the Lone Star State has four seasons: drought, flood, blizzard, and twister. This summer 97% of the state was in a persistent drought; in 2011 the Dallas-Fort Worth area experienced forty straight days in July and August of temperatures of 100° or higher. The state's social services are thin. Welfare benefits are skimpy. Roughly a quarter of residents have no health insurance. Many of its schools are less than stellar. Property-crime rates are high. Rates of murder and other violent crimes are hardly sterling either. So why are more Americans moving to Texas than to any other state? Texas is America's fastest-growing large state, with three of the top five fastest-growing cities in the country: Austin, Dallas, and Houston. In 2012 alone, total migration to Texas from the other 49 states in the Union was 106,000, according to the Census Bureau. Since 2000, a million more people have moved to Texas from other states than have left.
As an economist and a libertarian, I have become convinced that, whether they know it or not, these migrants are being pushed (and pulled) by the major economic forces that are reshaping the American economy as a whole: the hollowing out of the middle class, the increased costs of living in the US' established population centers and the resulting search by many Americans for a radically cheaper way to live and do business.
To a lot of Americans, Texas feels like the future. And I would argue that more than any other state, Texas looks like the future as well— offering us a glimpse of what's to come for the country at large in the decades ahead. America is experiencing ever greater economic inequality and the thinning of its middle class; Texas is already one of our most unequal states. America's safety net is fraying under the weight of ballooning Social Security and Medicare costs; Texas' safety net was built frayed. Americans are seeking out a cheaper cost of living and a less regulated climate in which to do business; Texas has that in spades. And did we mention there's no state income tax?
There's a bumper sticker sometimes seen around the state that proclaims: I wasn't born in Texas, but I got here as fast as I could. As the US heads toward Texas, literally and metaphorically, it's worth understanding why we're headed there, both to see the pitfalls ahead and to catch a glimpse of the opportunities that await us if we make the journey in an intelligent fashion.
Read more here
Rico says he'd live there, and Bill, a good friend of Rico's from the Claris days, already does.

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