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The economy of the state of Florida is the fourth-largest in the United States, with a $1.695 trillion gross state product (GSP) as of 2024. [1] If Florida were a sovereign nation (2024), it would rank as the world's 15th-largest economy by nominal GDP according to the International Monetary Fund , ahead of Spain and behind South Korea .
The U.S. economy grew by an average of 3.8% from 1946 to 1973, while real median household income surged by 74% (or 2.1% a year). [ 106 ] [ 107 ] Since the 1970s, several emerging countries have begun to close the economic gap with the United States.
Walt Disney World Resort in Bay Lake, Florida near Orlando PortMiami is the world's largest cruise ship port. Visitors at the beach in Naples, Florida. Tourism makes up one of the largest sectors of Florida's economy, with nearly 1.4 million people employed in the tourism industry in 2016 (a record for the state, surpassing the 1.2 million employment from 2015).
The United States had been running a trade deficit, draining gold out of the country. Because of the tariff revenues, the U.S. Treasury held a considerable amount of gold, which kept it out of circulation. On September 12, the SS Central America, which was carrying $1.5 million in gold from California, sank, contributing to the panic. Secretary ...
Duval Street is the main street in Key West and is 1.1 miles (1.8 km) in length in its 14-block-long crossing from the Gulf of Mexico to the Straits of Florida and the Atlantic Ocean. Key West is closer to Havana (about 106 miles or 171 kilometers by air or sea) [ 8 ] than it is to Miami (130 miles or 210 kilometers by air or 165 miles or 266 ...
The Economic Mind in American Civilization, 1606–1865 (1947) 2 vol; Eckes, Jr. Alfred E. "Opening America's Market—U.S. Foreign Trade Policy Since (1995) University of North Carolina Press; Foner, Eric. Free Soil, Free Labor, Free Men: The Ideology of the Republican Party before the Civil War
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A key strand of free market economic thinking is that the market's invisible hand guides an economy to prosperity more efficiently than central planning using an economic model. One reason, emphasized by Friedrich Hayek , is the claim that many of the true forces shaping the economy can never be captured in a single plan.