What is now California was first settled by various Native Californian tribes before being explored by a number of Europeans during the 16th and 17th centuries. The Spanish Empire then claimed and colonized it. In 1804, it was included in Alta California province within the Viceroyalty of New Spain. The area became a part of Mexico in 1821, following its successful war for independence, but was ceded to the United States in 1848 after the Mexican–American War. The western portion of Alta California was then organized and admitted as the 31st state on September 9, 1850, following the Compromise of 1850. The California Gold Rush started in 1848 and led to dramatic social and demographic changes, with large-scale immigration from other parts of the United States and abroad and an accompanying economic boom.
Notable contributions to popular culture, for example in entertainment, and sports, have their origins in California. The state also has made noteworthy contributions in the fields of communication, information, innovation, environmentalism, economics, and politics. It is the home of Hollywood, the oldest and largest film industry in the world, which has had a profound effect on global entertainment. It is considered the origin of the hippie counterculture, beach and car culture, and the personal computer, among other innovations. The San Francisco Bay Area and the Greater Los Angeles Area are widely seen as centers of the global technology and entertainment industries, respectively. California's economy is very diverse: 58% of it is based on finance, government, real estate services, technology, and professional, scientific, and technical business services. Although it accounts for only 1.5% of the state's economy, California's agriculture industry has the highest output of any U.S. state. California's ports and harbors handle about a third of all U.S. imports, most originating in Pacific Rim international trade. (Full article...)
According to The Economist, Friedman "was the most influential economist of the second half of the 20th century…possibly of all of it". Alan Greenspan stated "There are very few people over the generations who have ideas that are sufficiently original to materially alter the direction of civilization. Milton is one of those very few people." In his 1962 book Capitalism and Freedom, Friedman advocated minimizing the role of government in a free market as a means of creating political and social freedom. In his 1980 television series Free to Choose, Friedman explained his view of how free markets work, emphasizing his conviction that free markets have been shown to solve social and political problems that other systems have failed to address adequately.