Do economic prosperity and freedom go hand in hand? Recently Canada’s Fraser Institute ranked all 50 U.S. states in each state’s level of economic freedom based on government, taxation, regulation, and rule of law. It should come as no surprise that Texas comes in #1.

When asked by National Review’s John Fund the secrets to Texas-sized success, Rick Perry responded:

First, don’t spend all the money. Second, keep the taxes low and under control. Then have regulations that are fair and predictable so business owners know what to expect from one quarter to the next. Finally, reform the legal system so that frivolous lawsuits don’t paralyze employers who are trying to create real wealth.

Liberals will trash-talk the “Texas miracle,” calling it the Texas mirage. But read more here from Mr. Fund on why voters in such blue-states as Illinois, Massachusetts and Maryland showed their concern about how far their states have fallen behind the Lone Star State.