We should take advantage of the economic plights of California, Michigan, and the East Coast to recruit their best companies to relocate to Texas. We should also lure away from their universities the best and brightest to come make the University of Texas at Dallas a tier-one university and Southern Methodist University the Dallas equivalent of Rice. Great universities in Dallas would cement the third leg of the Austin-Houston-Dallas triangle, enriching Texas by making it the nation’s leading breeding ground for economic prosperity based on high-value-added jobs, creating businesses that will drive future global economic growth.

Fisher is the president and CEO of the Federal Reserve Bank of Dallas.

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