This is California, the Golden State and one of the largest economies in the world in its own right. If California was counted as a sovereign nation it would be the fifth-largest in the world by GDP, with a 3.2 trillion dollar gross state product putting it just behind Germany and just ahead of India. In this episode of Economics Explained, we'll explore the following questions: What made the state so prosperous before the 2020 downturn? What were the underlying issues impacting the economy? How will these issues be impacted by this decline? Learn more about your ad choices. Visit megaphone.fm/adchoices