Sunday, 12 July 2009

California Vs Texas - America's Future

Very interesting cover article from Economist.

I believe recent budget and economic crisis in California really highlighted California's issues such as dysfunctional government, too much restriction, too high tax and too much political power of state employees.

On the contrary, Texas get lots of accolade as the state for business, future and jobs.

As this article point out, California and Texas should learn from each other!

The truth is that both states could learn from each other. Texas still lacks California’s great universities and lags in terms of culture. California could adopt not just Texas’s leaner state, but also its more bipartisan approach to politics and its more welcoming attitude towards Mexico. There is no perfect model of government: it is America’s genius to have 50 public-policy laboratories competing to find out what works best—just as it is the relentless competition of clever new firms from Portland to Pittsburgh that will pull the country out of its current gloom. But, to give Texas some credit and serve as a warning to Mr Schwarzenegger’s heir, at this moment America’s two most futuristic states look a lot more like equals than ever before.

For Californian, it is time to stand and demand less taxing and more business friendly states to reinvent California.

Happy Investing!!!!

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