The Economist: Of Babies and Bathwater
Dr. M. Ray Perryman
February 14, 2013
February 14, 2013
In an imperfect world with imperfect information, imperfect decisions are the unavoidable result. Virtually any undertaking of the size and scope of the TEF, ETF, or CPRIT will involve some degree of controversy and money spent for projects with unsuccessful outcomes. Looking for ways to improve oversight is, of course, desirable and appropriate. Investing taxpayer resources is a public trust, and, if there are problems, by all means fix them!! However, it is important to maintain the proper perspective: the state’s economic development program is widely viewed as extremely successful, and Texas’ success is proof positive that it’s working. We do not need to throw the babies out with the bathwater.
Dr. M. Ray Perryman is President and Chief Executive Officer of The Perryman Group (www.perrymangroup.com). He also serves as Institute Distinguished Professor of Economic Theory and Method at the International Institute for Advanced Studies.
Dr. M. Ray Perryman is President and Chief Executive Officer of The Perryman Group (www.perrymangroup.com). He also serves as Institute Distinguished Professor of Economic Theory and Method at the International Institute for Advanced Studies.
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