There's a lot to digest about Rick Perry and the Texas Miracle/Unmiracle. ProPublica has a nice reading guide on the topic. It mentions Paul Burka's indispensable advice to Yankee journalists and National Journal's thorough review of Perry and the Texas economy.
The Economist's Erica Greider has written a good piece on the state's record of job creation. I agree with her: it's a complicated story but the achievement is striking nonetheless. In general, the Texan economy has a lot to boast about, and some things (notably its healthcare system) to be ashamed of. Perry's significance on both sides of the ledger is less than his biggest admirers and critics maintain.
Paul Krugman gives Texas credit for an intelligent land-use policy which keeps housing cheap, and for effective regulation of mortgage lending which avoided the worst of the housing bust. Later in the same article, though, he says any state could do what Texas did and steal jobs from elsewhere with "weak regulation". What weak regulation is that--the strong regulation of mortgage lending he just mentioned, or the light zoning regulation he just praised? Confusing. Still, you can't quarrel with his observation that people are moving to Texas for the climate. The sparkling lakes and lush verdant forests are also quite a draw.