What do Alaska, Louisiana, North Dakota, and Texas have in common? Oil, and lots of it compared with the rest of the country. And except for Texas, the four states also have small populations. Texas makes up for having a large population by having low wages when compared with other big states.
The title of this article is the answer J. Paul Getty is reported to have given to this question: “What’s the secret to success?” Still good advice.
Paul Ausick
The New York Times Economix blog posted the following chart from the IHS Global Insight report:
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