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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (372316)	2/28/2008 2:12:30 PM
From: combjelly	Read Replies (1) of 1577030

"Most of the government payments are simply transfers (which don't create wealth, and only use up a small amount of wealth to transfer a much larger amount, the main loss here is the dead weight loss from the taxation)" Not in Texas. Unless you consider education to be a transfer. "I'm not saying that government built infrastructure plays a role, but its only one part of many, " It is the largest, Tim. A state might get rich by the factors you name, but it only stays there by developing and maintaining the infrastructure to support it. A good example is Texas and Louisiana. The economies were close to each other until the 1970s. However, Texas had a history of supporting its educational system, both higher and public. During the Boom, money was funneled into making their top universities world class. Louisiana, with its history of cronyism and corruption, spent its money on sports stadiums and other things. Result? Texas is a wealthier state than Louisiana now. They never got past oil and agriculture. Texas has a more diverse economy now.

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