Last month, Walmart asked me to do a signing for my book, Capitalism For All: Inclusive Economics and the Future-Proofing of America, at their new store opening in Celina, Texas. The actor Anthony Anderson and I signed books, talked about the future of America, and I left wondering: Why Celina? What made Walmart choose this particular exurb outside Dallas for a major store opening and author event?

Last week, the Census Bureau answered that question. And it revealed something much bigger than why one retailer chose one Texas town.

Celina is the fastest-growing city in America, with 24.6% growth in a single year. But Walmart didn’t send me there because of its growth rate. It sent me there because Celina represents where American capital is actually flowing—and what that tells us about a debate the market has already moved past.

Celina is around 53% white, nearly 17% Asian, about 14% Hispanic, and just over 9% Black. Its Asian population has grown by over 900% since 2020. The median household income is $170,894, and the poverty rate is under 5%.

The five fastest-growing cities in America are all in Texas. Fulshear (21%........

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