Texas is the second-largest and most populous state in the United States. The Texas economy is the second largest in the U.S. after California. The most significant growth in nominal GDP in 2023 was in Wyoming (16.4%) and Texas (15.1%). California showed an increase of 6.6%, which is more than two times less.
In 2022, Texas led the country in the number of Fortune 500 companies (the annual list of the 500 largest U.S. corporations ranked by gross revenue) - 53. New York State dropped from 1st to 2nd place with 51 Fortune 500 companies. California, with 50 companies, ranks third.
As of 2021, Texas exported more than $300 billion worth of goods and services per year - more than California ($175 billion) and New York ($100 billion) combined. In 2023, the trend continued, with Texas exporting $445 billion, California exporting $179 billion in second place, Louisiana exporting $100 billion in third place, and New York exporting $98 billion in fourth place.
This is a remarkable achievement - Texas has been leading the country as the No. 1 exporting state for more than 20 years. In this video, we will tell the story of a state that has gone from an independent slave republic to one of the most prosperous regions of the United States, striving to take the palm from California. And what does economic freedom have to do with it?
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00:00 Introduction
04:02 Jamaican Governor's expedition to Texas in 1519
05:55 Spain appoints the first governor of Texas 1691
09:03 Independence of Mexico and Texas as part of it
11:14 Order of the President of Mexico to release enslaved people
12:48 The Texas Revolution of 1835
13:47 Independence of the Republic of Texas
16:11 Annexation of the Republic of Texas by the United States
19:29 Integration of Texas into the United States
21:13 Texas secession from the Union
22:52 The Confederate States of America and the Civil War
24:58 Texas economy after the war
28:51 The emergence of railroads
32:50 The oil boom
37:54 How World War II changed Texas
39:26 Texas today. The economy
44:01 Full-scale war in Ukraine and the military-industrial complex of Texas
48:20 Population and economic development
52:11 Business climate in Texas
56:16 Relocation of big business to Texas (in particular, from California)
58:03 Unemployment, wages, cost of living, inflation
01:01:14 Education. Universities
01:03:54 Healthcare system
01:05:03 Sports. NFL, NBA, NHL
01:09:19 Religion
01:10:19 Challenges for Texas
01:14:48 Lessons for Ukraine
#Texas #USA #California