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

Texas' economic growth has consistently outpaced that of the United States as a whole over the past quarter century. What accounts for the state's economic success? And does it come at a price to be paid in the future? Ten-Gallon Economy features new research on regional economic growth and some surprising findings on Texas' unique tax and banking institutions, booming energy and export sectors, vibrant labor market, expanding demographics and human capital, and growing border economy. Texas has a dynamic economy, large yet flexible, but it is still subject to the booms and busts of the energy sector, which exercises an outsized influence. Taxes are low but regressive relative to national benchmarks, which fuels growth but can inhibit investment in education and health. Meanwhile, Texas, as one of only five minority-majority states, is poised to reap a big demographic dividend if it invests wisely in the coming generation of mostly Latino workers. Taken together, the chapters in this volume provide unique insight into the economy of the nation's second-largest state, laying out some of the choices facing policymakers charged with safeguarding the Texas growth premium for future generations. "Cover" -- "Title" -- "Copyright" -- "Dedication" -- "Contents" -- "List of Illustrations" -- "About the Title" -- "Preface" -- "Acknowledgments" -- "Part I Introduction" -- "1 Tipping Our Hats to the Ten-Gallon Economy" -- "Part II Public Policy and Business Climate" -- "2 Increasing Jobs and Income from Work: The Role and Limitations of Public Policy" -- "3 Why Texas Grows Faster: The Role of Smaller Government" -- "4 The Shortcomings of the Texas Margin Tax" -- "Part III Human Capital and Labor Markets" -- "5 Texasâ#x80;#x99; Education Challenge: A Demographic Dividend or Bust?" -- "6 Oil Boom Lowers Human Capital Investment in Texas" -- "7 Employment Growth and Labor Market Polarization in the United States and Texas" -- "Part IV Industry and Exports" -- "8 Texas Real Estate: From the 1980sâ#x80;#x99; Oil Bust to the Shale Oil Boom" -- "9 The Evolution of Texas Banking" -- "10 The Impact of Changing Energy Prices on the Texas Economy" -- "11 Texas Comparative Advantage and Manufacturing Exports" -- "Part V Border and Economic Development" -- "12 So Close to Mexico: Economic Spillovers along the Texasâ#x80;#x93;Mexico Border1" -- "13 Border Economic Recovery Lags Rest of State" -- "14 Las Colonias along the Texasâ#x80;#x93;Mexico Border" -- "Contributor Biographies" Front Matter....Pages i-xvii Front Matter....Pages 1-1 Tipping Our Hats to the Ten-Gallon Economy....Pages 3-11 Front Matter....Pages 13-13 Increasing Jobs and Income from Work: The Role and Limitations of Public Policy....Pages 15-31 Why Texas Grows Faster: The Role of Smaller Government....Pages 33-45 The Shortcomings of the Texas Margin Tax....Pages 47-58 Front Matter....Pages 59-59 Texas’ Education Challenge: A Demographic Dividend or Bust?....Pages 61-77 Oil Boom Lowers Human Capital Investment in Texas....Pages 79-90 Employment Growth and Labor Market Polarization in the United States and Texas....Pages 91-105 Front Matter....Pages 107-107 Texas Real Estate: From the 1980s’ Oil Bust to the Shale Oil Boom....Pages 109-118 The Evolution of Texas Banking....Pages 119-137 The Impact of Changing Energy Prices on the Texas Economy....Pages 139-158 Texas Comparative Advantage and Manufacturing Exports....Pages 159-179 Front Matter....Pages 181-181 So Close to Mexico: Economic Spillovers along the Texas-Mexico Border....Pages 183-198 Border Economic Recovery Lags Rest of State....Pages 199-212 Las Colonias along the Texas-Mexico Border....Pages 213-229 Back Matter....Pages 231-248