Book excerpt: In New Mexico Economy in 2050, an E-short edition from New Mexico 2050, two of the state’s foremost economists, Lee Reynis of the University of New Mexico and Jim Peach of New Mexico State University, provide an overview of New Mexico’s economy. Reynis and Peach present the dimensions and effects of income inequality in the region and how it can be ameliorated. This selection also includes two short guest essays, one by Henry Rael on tradition- and culture-based economic development, and the other by Chuck Wellborn on fostering and nurturing homegrown industry.