Derek Thompson, writing at The Atlantic:
The recession in Texas was relatively mild, partly thanks to mistakes learned by the region’s real estate and energy industries, says Patrick Jankowski, an economist and vice president of research at the Greater Houston Partnership. Texas “won” the recession not only because of the jobs it’s created, but also because of the jobs it’s hoarded — particularly in energy.
I wonder if Houston would have fared differently if it didn’t have an extractive industry to rely on?