Texas despite being a pro-business state with several low-paying jobs have been ranked number one several times for its good performance. It is actually shining in regards to economic growth, a trend that has been continues over time. This has been possible because the predictable regulations and the low taxes have made the state ideal to begin and grow any kind of business. According to Texas Comptroller Susan Combs, the state has great job growth, building permits and collection of sales taxes which has the potential to make Texas outpace the economy of the nation (Tate 1). There is also less intervention from the government enabling businesses in Texas to grow while providing entrepreneurial spirit in the state giving it a chance to thrive.
However, the low-paying jobs have also limited Texas in that several potential workers are shying away from looking for work in the state. This prevents innovation and strong competition among organizations in the state. Texas has been continuously ranked among the best states in the US for conducting business (Tate 1). This has made it confident as a state especially the good reputation it has regarding performance which is important for its economy and that of the nation.
When the economic health of a state is good, there is a possibility that the public finance is also good. The state of Texas experienced economic contractions in the last two decades especially after the drop in the prices of oil in the 1985. The boom and bust cycles disappeared from its economy due to policy actions that were set by the legislatures with the intention off driving change in Texas. This opened opportunities for the business leaders and politicians to pursue their goals and policy in the state. It means that when Texas was cash strapped in the 1980s, its public finance was being controlled by the business leaders and politicians whose aim was to sell their interests. However, this move helped to keep the economy of the state good. Governor Perry is among the politicians who have been selling their interests making claims that he can replicate back the Texas miracle by creating jobs (Newman 1). One thing that is evident is that the government played a major role to create jobs leading to economic recovery. When the state began to become prosperous, the government became less involved in its activities especially businesses enabling Texas to continue thriving economically.
In the 1900 also known as the Progressive era, Texas had ostentatious wealth characterized by economic production, cities expansion, population increase and maturity of culture and society. Immigrants especially from Germany and Mexico not only increased the population but also contributed positively to economic development. By late nineteenth century, the economy of Texas had tremendously grown. Agriculture dominated the economy of the state because majority of Texans turned into ranchers and farmers. The profits accrued from farming of corn and other farming activities were estimated to be $ 962, 476, 273 (Barr 1). Later, the formation of unions helped shape the wages, working conditions and the work hours making farming more suitable for several of the people. In the urban region, several industries were developed which stimulated the economic growth of the state. Schools and churches helped in contributing to social events that attracted tourists as well as promoting local cultures which also helped to improve Texas economy. However, due to racial, economic and social issues, Texas was shaped into a politics state in the nineteenth century with the Democratic Party controlling the region. The politicians began to take charge of the economic activities in the nation and controlling the ways in which business were done as a way to promote their agenda.
Barr, Alwyn. “Late nineteenth-century Texas.” Handbook of Texas Online. Accessed 15 June, 2010.
Newman, Rick. “GOP front-runner Perry’s Four Economic Vulnerabilities.” NBC News. Accessed 16 Aug, 2011.
Tate, Kristin. “Texas Ranked Best State for Business 10th Year in a Row.” Breitbart. Accessed 13 May, 2014.