Economy
In the decades leading to 2009, crude oil production in the East Texas Oil Field, the largest oil field in the United States, decreased. In turn, the number of high-paying jobs for uneducated workers also decreased. Many small towns had closed cafés and gas stations, some of which were replaced with cash loan shops and pawn shops.
Paul Knight of the Houston Press in a 2009 article that "some say has surpassed crude as king in East Texas."
Read more about this topic: East Texas
Famous quotes containing the word economy:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)