The outsider pictures the Texas economy as a montage of oil wells gushing instant wealth, horizon-to-horizon cattle roaming the King Ranch, self-made millionaires stomping about in stetsons, ready to take a shot at anything that promises a profit. The surprising fact is that so much of this view is essentially true—although the real business mosaic of Texas is of course vastly more complicated. The Texas economy is a thing unto itself, almost self-sustaining, ever on the move. Today, for example, Texas is expanding production of drilling equipment faster than output of oil itself. Besides its oil tycoons and cattle barons, the...
To continue reading:
or
Log-In
