Oklahoma economy

Abstract

The conventional view of Oklahoma's economy is of a system based on oil and agriculture. This view enhances the influence of oilmen, farmers, and ranchers well beyond their actual economic importance. Today's Oklahoma has become more and more like its national counterpart with state economic conditions largely determined by the status of the national economy. An economy once dominated by oil and agriculture has become diversified as a result of developments inherent in the declining importance of natural resource sectors and the free market-based spread of economic activity throughout the nation.