DPRIT
Column Published in syndication September 10, 2025Dementia is among the most difficult health issues that we face as a society, devastating to those affected as well as their friends and families. It touches virtually all of us in some way (my mother and maternal grandmother were both tragic victims). In addition to the extremely high physical and emotional toll it takes, which is by far its most compelling impact, Alzheimer's disease and related dementias involve very high economic costs. The proposed Dementia Prevention and Research Institute of Texas (DPRIT), which voters will have an opportunity to approve the funding for in November, can play a vital role in finding solutions.
Global Markets
Column Published in syndication September 03, 2025For much of the past decade, the US stock market has dramatically outperformed its global counterparts. A major reason is the emergence and dominance of the US technology sector and the rapid expansion of "mega-cap" companies such as Alphabet (Google), Apple, Meta, Microsoft, Amazon, Tesla, and Nvidia. However, there are signs that international equities may be making a comeback.
- Tags:
- international,
- stocks,
- United States
Money Matters
Column Published in syndication August 27, 2025The US financial landscape is seismically shifting, and it's surging toward Texas. The establishment of NYSE Texas, NASDAQ's regional headquarters in the state, and the new Texas Stock Exchange (TXSE) are indicative of the ongoing decentralization of financial activities and the emergence of Texas as a major competitor.
JOLTS
Column Published in syndication August 20, 2025Despite the current challenges--from geopolitical tension to tariffs--the Texas labor market is holding relatively steady (even with a modest recent monthly decline in June) and even improving in many areas. Texas added 232,500 jobs over the past 12 months, representing a 1.6% growth rate that was significantly above the national rate (0.6%). In addition, a wide range of industries are adding jobs, always a positive signal.
Disruption
Column Published in syndication August 13, 2025"Creative disruption" is a process by which the invention of one very useful thing brings major changes for many others. It is related to "creative destruction" (the rapid obsolescence of some activities as new mechanisms emerge) which dates back to sociologist Werner Sombart over a century ago and was brought into mainstream economic thought by Joseph Schumpeter in the 1940s. These phenomena happen frequently in niches across the economy. For example, telephone switchboard operators largely went away due to automation. These disturbances are healthy and, indeed, essential to progress, but can engender very difficult transitions.
- Tags:
- productivity,
- artificial intelligence,
- jobs
Metro Musings
Column Published in syndication July 30, 2025Although uncertainty has increased markedly since the last forecast, Texas and its metropolitan areas are projected to see notable growth through 2029. The rate of increase is again expected to outpace that of the US, and many of Texas' most populated areas will expand even faster than the state as a whole. Performance may be uneven and much of it backloaded into later years of the five-year horizon (and confidence intervals are wider than normal), but overall expansion is expected.
- Tags:
- metro,
- economic forecast
A Matter of Degree
Column Published in syndication July 23, 2025The US Census Bureau recently released some interesting new data related to the demographic, social, and geographic characteristics of bachelor's degree holders in the country by field of study. The report indicates that almost 36% of US adults aged 25 and over had a bachelor's degree (or higher) in 2022. The field of study chosen affects potential occupations, opportunities, and economic returns.
- Tags:
- demographics,
- earnings,
- education
Frazzled, Frustrated, and Fatigued!
Column Published in syndication July 16, 2025Sometimes, our modern technological advances are two edged, and what begins as an improvement may ultimately end up having an unanticipated negative effect on productivity. A recent report by Microsoft illustrates a widespread example of this phenomenon. Trillions of globally aggregated and anonymized Microsoft 365 data bits were used to identify patterns (which are also likely occurring with other, similar platforms). Reviewing these findings, it becomes obvious that workdays have become too long, overly loaded with interruptions, and, thus, less efficient. Let's take a quick look.
- Tags:
- productivity,
- technology
The Texas Economic Outlook
Column Published in syndication July 09, 2025Though certainly not immune to national and global issues (particularly with regard to tariff and immigration policies), Texas continues to display notable momentum. The state is emerging as an epicenter for the ongoing digital transformation, with semiconductor plants and their associated suppliers, data centers, crypto miners, and others choosing to locate in the state. Life sciences and other emerging industries are also seeing accelerated activity. Vast natural resources remain a catalyst to growth, and in addition to oil and natural gas, the state is also the leader in the next phase of energy development including renewables, new potential sources, and climate-oriented technologies.
- Tags:
- Texas,
- economic forecast