New Mexico is not poor because it lacks resources. As the nation’s second-largest oil and gas producer after Texas, it has benefited from revenues that many states would envy. Yet New Mexico continues to struggle with persistent poverty, lagging educational outcomes, and slow population growth.

A recent report, Economic Freedom in the Land of Enchantment, argues that a lack of economic freedom is preventing the state from reaching its full potential. Co-authors Paul Gessing and Matthew Mitchell contend that reducing regulations, lowering taxes, expanding school choice, and limiting government spending would create the conditions for stronger economic growth and greater prosperity.

Their report draws heavily on research from the Fraser Institute, a Canadian public policy organization that publishes the annual Economic Freedom of the World and Economic Freedom of North America indexes. An especially interesting part of the conversation centered on environmental regulation which while it can discourage investment, New Mexico is a state where residents are keenly aware of the environmental costs that often accompany resource extraction. 

We apologize for the technical problems that occurred during the broadcast of this program.

Host:               Jim Falk

Co-host:          Peter Smith

Guests:            Paul J. Gessing, President, Rio Grande Foundation

                        Matthew D. Mitchell, Mercatus Center, George Mason University 

Show Notes:

Economic Freedom in the Land of Enchantment by Matthew D. Mitchell & Paul Gessing