Just to expand Tyler’s answer, JavaScript is for this purpose, although I’m sure that you can achieve the same skill using CSS3 viewports, you’d better use jQuery (this is usually in the cache of most browsers and has always been hosted by Google, therefore no need to worry :)
If you have css like this:
#body #mytext {
font-size: 50%;
}
jQuery :
$(window).resize(function(){
$('#body #mytext').css('font-size',($(window).width()*0.5)+'px');
});