Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 1
I swear, this whole list is reminding me of how important it is to diversify your economy. And local/state economy dependent on one or two industries takes very real risk of going into local depression at the smallest economic shift.

I think the Texas economy has done a commendable job of moving away from being primarily an oil and gas economy to having one of the more diversified and vibrant economies in the country. And I think it's no surprise why, between that and a relatively friendly tax policy for business, the Texas economy -- while showing signs of weakening with the nation -- is still one of the strongest in the Union.

There was a conscious effort in Texas after the mid-1980s oil bust to grab other industries. Oil is obviously still very important, but it's no longer so dominant that it makes or breaks the economy like the auto industry makes or breaks Michigan. Too much of the rust belt held on to its legacy and refused to admit it was time to move on.

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.