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:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“During the cattle drives, Texas cowboy music came into national significance. Its practical purpose is well known—it was used primarily to keep the herds quiet at night, for often a ballad sung loudly and continuously enough might prevent a stampede. However, the cowboy also sang because he liked to sing.... In this music of the range and trail is “the grayness of the prairies, the mournful minor note of a Texas norther, and a rhythm that fits the gait of the cowboy’s pony.””
—Administration in the State of Texa, U.S. public relief program (1935-1943)