Ten-Gallon Economy: Sizing Up Economic Growth in Texas [Hardcover]

Texas' economic growth has consistently outpaced that of the United States as awhole over the past quarter century. What accounts for the state's economicsuccess? And does it come at a price to be paid in the future? Ten-GallonEconomy features new research on regional economic growth and somesurprising findings on Texas' unique tax and banking institutions, boomingenergy and export sectors, vibrant labor market, expanding demographics andhuman capital, and growing border economy. Texas has a dynamic economy, largeyet flexible, but it is still subject to the booms and busts of the energysector, which exercises an outsized influence. Taxes are low but regressiverelative to national benchmarks, which fuels growth but can inhibit investmentin education and health. Meanwhile, Texas, as one of only five minority-majoritystates, is poised to reap a big demographic dividend if it invests wisely in thecoming generation of mostly Latino workers. Taken together, the chapters in thisvolume provide unique insight into the economy of the nation's second-largeststate, laying out some of the choices facing policymakers charged withsafeguarding the Texas growth premium for future generations. 

PART I: INTRODUCTION
1. Tipping Our Hats to the Ten-Gallon Economy; Pia M.Orrenius, Jes?s Ca?as, Michael Weiss
PART II: PUBLIC POLICY AND BUSINESSCLIMATE
2. Increasing Jobs and Income from Work: The Role and Limitations ofPublic Policy; David Neumark
3. Why Texas Grows Faster: The Role of SmallerGovernment; Jason Saving
4. The Shortcomings of the Texas Margin Tax; Alan D.Viard
PART III: HUMAN CAPITAL AND LABOR MARKETS
5. Texas' EducationChallenge: A Demographic Dividend or Bust?; Marta Tienda
6. Oil Boom LowersHuman Capital Investment in Texas; Anil Kumar
7. Employment Growth and LaborMarket Polarization in the U.S. and Texas; Melissa LoPalo, Pia M.Orrenius
PART IVl³¥