California used to be the 5th largest economy.
According to this, only for two years, '84 and '85:
http://econpost.com/californiaeconomy/california-economy-ranking-among-world-economies
Prior to that, since the '70's, 7th largest, behind Italy.
And specifically:
However, in 2002, California was overtaken by China's economy and fell back to the 7th largest spot, And in 2003, when Italy's economy regained its normal pace of growth, Italy surpassed California and pushed it back another spot to eighth biggest economy, the rank it has occupied every year since 2003.
I respectfully submit that China's ascension in the ranking is a far more relevant factor affecting our ranking than the "business climate".
Note also that that's dated 2011. In 2013 CA GDP was $2 trillion compared to 2011's $1.89 trill.. That's GROWTH.
Here's more current info, dated July 2013, from here:
http://www.ccsce.com/PDF/Numbers-July-2013-CA-Economy-Rankings-2012.pdf
"
California Poised to Move Up in World Economy Rankings in 2013
California is poised to pass Italy and the Russian Federation and become the world�s eighth-largest economy in 2013. California, Italy and the Russian Federation were in a virtual tie in 2012 for eighth-tenth place in the world rankings with a gross domestic product (GDP) of $2.0 trillion. The state GDP is the value of all goods and services produced in California and is comparable to the national definition.
According to World Bank estimates, China was the world�s second-largest economy in 2012 with a GDP just over half of the U.S. total. Japan, Germany and France were the next three largest world economies in 2012. With the European economies in recession, California pulled even with Italy and moved closer to the GDPs of France and the United Kingdom."
Most studies I have read show California is NOT a good business climate. Hence... the departures to other states. Manufacturing is leaving. High tech is leaving.
Even though I got about 15 years of employment in the high-tech orbit myself, in components and computer sales, I'm almost tempted to say "good riddance", since we're still trying to figure out how to clean up the groundwater contamination left from 30 glorious years of IC
manufacturing in the Santa Clara Valley, that contains what used to be fully a quarter of the TOP 1% of arable land quality ON THE PLANET. This valley single-handedly produced virtually the entire
national output of plums (prunes) and apricots for almost 100 years and was a pretty big source of cherries, almonds, and walnuts too.
I could see
acres of all those and more within a 10-minute bike ride anywhere in the valley up through about '74.
THAT's when IC manufacturing hit critical mass and became a HUGE employer, driving construction of both manufacturing infrastructure and housing, (and NEVER
enough housing) where humble fruit was once farmed.
High tech has not left and won't leave, it is simply converted to R & D for the large scale circuit manufacturers and other forms of high tech such as bio-tech and solar power development, or more recently Seagate buying the defunct Solyndra property and starting up ops..
Oh yeah, don't forget Tesla's electric cars.
I guess it depends on where you live. High-tech is definitely not leaving the Bay Area. Not that the Bay Area is representative of the state's economy....
Yes, you're a prime example, having relocated from the east coast. And actually the Bay Area
is a pretty good micrcosm of the state's economy, except we don't have the agricultural weighting we did as recently as the '70's .
The bay area is just a weird area all together.
John, thought you lived in Southern Cal? Are you speaking as a long-term resident? Not that the term is neccessarily inaccurate, but if you don't live here you may not be aware of just how much cultural diversity there
is here, I think THAT'S what makes us a unique region in the state. And don't judge a whole region by my example either. :biggrin-new:
How they vote doesn't match a lot of the state, but because they are close to Sacramento, everyone seems to think that IS how we all would vote.
Here's what the casual observer always misses: AGRICULTURE is the 900lb economic Gorilla in the state, singlehandedly contributing 16% of the US GDP from '05-'09.
Source here:
http://www.fieldtomarket.org/report...conomic_AgriContributionToNatlAndStateGDP.pdf
Those farmers and their related economic enterprises tend to be pretty darn conservative. I've been saying for twenty years now that California's got a conservative (I use a bit more
colorful term) backbone as deep as big as the central valleys, which tends to corroborate what you're saying.
I finally realized that after I watched many an election prove that the Bay Area and the Los Angeles urban area are islands of liberal political sympathies in this state.
BUT, in the end, if we draw different opinions based on different sources, I guess that's just how it goes.
I still think it'd be a great place for Fender to make Guilds.
:tranquillity:
