The Economist

Dr. M. Ray Perryman is President and Chief Executive Officer of The Perryman Group He also serves as Institute Distinguished Professor of Economic Theory and Method at the International Institute for Advanced Studies.

Texas Spending

With about 27.5 million residents, more than 260,000 square miles, and a $1.5 trillion economy, substantial resources are required to maintain quality of life and public safety, provide for education and infrastructure, and serve as a safety net through social programs in the state of Texas, which will spend more than $140 billion this year.

The Paris tragedy

The horrific events in Paris of Nov. 13, 2015, shocked the world. The tragic loss of at least 129 lives is difficult to comprehend, and our hearts go out to those who have been affected. The human cost is beyond quantifying, and is of course the primary concern.