Friday, August 19, 2011

Faith-Based Economics


Gov'nor Perry, waxing quite lyrical,
Says: "Texas produced a jobs miracle!"
But economists who
Put this claim to review
Say the Miracle isn't empirical.

Texas' Governor - and now Republican Presdential hopeful - Rick Perry likes to boast about the "Texas Miracle": that the Lone Star State added more jobs more quickly than any other. Unfortunately for Mr. Perry, his candidacy wasn't more than a week old when the Miracle was disproven by a number of authoritative sources. The Big Picture blog probably sums up the takedown most comprehensively; in short, Texas' unemployment rate, though somewhat better than average, reacted like everyone else's to the recession. What's more, the employment rate (number of working adults / total population) is worse than average, and Texas ranks near the bottom on a host of quality-of-life measures.

Posted by Dr. Goose
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