New York and California: The Need for a “Great Reset”

Despite panning Texas Governor Rick Perry’s initiative to draw businesses from New York, Slate’s business and economics correspondent, Matt Yglesias offers sobering thoughts to growth starved states along on the West Coast and in the Northeast.

“…the Texas gestalt is growth-friendly because, quite literally, it welcomes growth while coastal cities have become exceptionally small-c conservative and change averse. But if New York and New Jersey and California and Maryland and Massachusetts don't want to allow the construction of lots of housing units, then it won't matter that Brooklyn, N.Y.; and Palo Alto, Calif.; and Somerville, Mass.; are great places to live—people are going to live in Texas, where there are also great places to live, great places that actually welcome new residents and new building.”

The entire country would benefit if states like California, New York, Massachusetts and New Jersey were to enact policies to compete with Texas, as Yglesias suggests.

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Perry is at it again. The truth about the Texas economy...........and yes, its not nearly as good as Perry would have us believe: