Tyler Cowen has a front-page story in Time Magazine on why Texas has become a magnet for American population. Here is a sample:
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?
Alas, Time now has a paywall, and I am not going to pay $5 to read a single article. Did anyone else actually read the article?
The Time Idea blog lists the top ten reasons Cowen identifies:
- 1. Everyone’s moving there
- 2. The middle-class squeeze
- 3. Automation
- 4. The skills gap
- 5. Cheap land, cheap houses
- 6. Cheap living generally
- 7. Jobs
- 8. Low taxes
- 9. The rise of the ‘New Cowboys’