Describe how the past economic growth of Texas has affected its present economic and publiic policy
What will be an ideal response?
Answer:
A. Past economic focus has been extractive and focused on cattle, cotton and crude oil
1. Abundance of cattle and increased demand helped provide Texas an economic recovery from Civil War
2. Developing agriculture crops began to overtake lands previously used by ranchers
3. Discovery of oil and the demand from growing automobile and railroad industry created major shift in focus of Texas economy to mainly oil and oil production
B. Due to oil boom, Texas shifted from land based economy to manufacturing
1. Filled many military defense contracts
2. Focused on petroleum-based products such as plastics and synthetic rubber
3. Steel production and metal smelting
4. Electronic manufacturing: Texas instruments
C. Growth of service sector
1. Collapse of oil industry and decrease of military spending
2. Growth of jobs and income in wholesale trade and business services
3. Entertainment industry such as film-making
4. Growth of tourism
5. Job growth in service-related industry
D. Recovery after Recession
1. Rebuilding confidence in economy
2. Redirection and revitalization of the economy
3. Build strong educational infrastructure but Texans resistance to governmental involvement is problematic
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