The economy of Texas is one of the largest and most rapidly growing economies in the United States. As of 2011, Texas is home to six of the top 50 companies on the Fortune 500 list and 51 overall, (third most after New York and California). As the largest exporter of goods in the United States, Texas currently grosses more than $100 billion a year in trade with other nations.
In 2011,Texas had a gross state product of $1.332 trillion, the second highest in the U.S. Texas's household income was $48,259 in 2010 ranking 25th in the nation, below the national average, though the ranking does not factor in the state's lower-than-average cost of living.
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Famous quotes containing the words economy of, economy and/or texas:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Fifty million Frenchmen can’t be wrong.”
—Anonymous. Popular saying.
Dating from World War I—when it was used by U.S. soldiers—or before, the saying was associated with nightclub hostess Texas Quinan in the 1920s. It was the title of a song recorded by Sophie Tucker in 1927, and of a Cole Porter musical in 1929.