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Essay On Texas Economy

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Over the years, Texas’ economy has shaped its value along with its ability to export goods. These goods being exported are essential to the fundamental stability of the state and its economy. Texas is one of the largest economies in the United States; surpassing New York and California combined. According to research and statistics, Texas grossed over $260 billion in exports in the year 2012. Before World War II, Texas’ main enterprises included cattle and bison, oil, cotton, and timber. With these four enterprises, Texas has been able to maintain a somewhat successful economy. This economy being the size it is has become to be known all throughout the world with significant value and symbolization. During the 1870’s and 1880’s, the Texas cattle industry soured its highest flight. Towards 1901, Texas was looked at as the number one producer of oil in the United States …show more content…

This theory is the belief of something new coming in and killing something old. I believe the Texas economy has exemplified this theory towards the sources of the Texas economy. For example, throughout the history of Texas and its economy, the cattle industry has been at the top of the list for sources of our economy. During the Wild West era, cattle drives and sales were quite a frequent event in Texas. The economy relied heavily on the cattle. I mean this is where most all of our money was created. Without the cattle during this time, the structure of our economy would have suffered. During the mid to late 1900’s, technology was introduced. The production of computers and computer companies has started to become one of the main structures of the Texas economy. The theory of creative destruction is best for explaining why the cattle industry is nowhere near what it used to be. With introducing computers into the economy, the cattle industry is beginning to die. Technology is taking its place in front of

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