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Economics Explained
Something Weird is Happening in California
Sep 1, 2023
Exploring the economic dominance of California, its rise as the entertainment capital of the world, and the factors contributing to its economic success. Analyzing California's impressive GDP per capita and consistent growth, despite challenges of population decline and global pressures.
18:57
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Quick takeaways
- California has one of the largest economies in the world, with an output of over $3.5 trillion.
- Despite its economic success, California faces challenges such as population decline, rising housing costs, and over-regulation.
Deep dives
California's Economic Output and Productivity
California, with an output of over 3.5 trillion US dollars, has one of the largest economies in the world. On a per capita basis, the average Californian has an output of almost $100,000, making them highly economically productive. This is due to the state's influential industries and its ability to grow at a faster rate than the rest of the United States.
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