The free market is a central tenet of conservatism, which rests on the belief that the individuals interacting in the market place should make buying, selling and pricing decisions rather government bureaucrats.
Texas has built one of the strongest economies in the nation based largely on relatively low taxation and limited government interference in the private sector economy. Over the past two decades, landmark partial deregulation of the insurance, telecommunications, and retail and wholesale electric markets has opened each of these industries to greater levels of competition and innovation. The 82nd Legislature enacted “loser pays” tort reform and continued the state’s record of electric, telecommunications, and insurance market deregulation. The 83rd Legislature took steps towards preventing the growth of burdensome occupational licensing regulations, as did the 84th. The 84th Legislature also ensured that local governments could not enact energy policies denying property owners access to their mineral interests.