Change of The Texas economy
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In the late 1980s Texas made a shift from producing mainly cotton and oil, which is what everybody thinks of when they hear Texas, to producing high tech equipment like computers and computer software. The cause of this shift was a eighty percent oil drop that sent panic throughout the state. Unemployment was at a all time high, but within eighteen months Texas had recovered to the unemployment level it was before the oil crises, and the years following showed the employment in Texas rising. Texas had become a major player in the industrial market. One very debated issue that has helped make this possible is the NAFTA trade agreement. This agreement was designed to raise the trade between the United States, Mexico, and Canada, with Texas being in the geographical center of it all. Many people most of whom are either from Texas, a factory owners , or have some stock in a factory based out of Texas will tell you that NAFTA was a huge successes. But what is not covered in the video is the huge number of factory closings throughout the country, and how unemployment rates have raised in nearly every country since the agreement including Texas. I actually have personnel experience with this issue, I come from Somerset Kentucky which is a town of approximately 45, 000 people and of those people nearly a third of them worked at one of three factories in the town. Most of the others were either family members or depended on the factory workers business to support there business...