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Show 2- doubling every 18.8 years - a fantastic growth rate, over twice the national average. Now we lay claim to being the most populated state in the nation. Population and prosperity do not necessarily go hand in hand, but California has made remarkable progress on the economic front as well. It leads the nation in construction volume, farm income, and is a close second to New York in personal income from manufacturing. California's gross national product has increased nine-fold in the last 30 years, jumping from 6. 3% to 11.3% of the national total. Personal income per capita in California is 23% above the national average. Whether we consider housing starts, new capital expenditures, hourly wages, cost of living, or state taxes - California's record of growth exceeds that of the nation as a whole. Today California has become a truly significant factor in the national economy. What is there about California that sets it apart from the other 49 states? What is it that has caused our economy consistently to out-perform the rest of the country? Having done so for the past 100 years, is there any reason why California can't continue for the next 100 years to show its heels to the rest of the Nation? To answer these questions we had best examine why our economy has performed as it has. The initiating force that provided the momentum has changed over the years. Gold gave us our start, and agriculture, movies, petroleum, and the tourist trade played important roles in the earlier years. Certainly the climate has been a helpful factor always. However, |