Question

What was economics like in the U.S before the declaration of independence

Answer 1

Overseas markets expanded as the colonists increased their production levels and supplies. Their imports also grew throughout the 18th century, as increasingly prosperous,and numerous,colonists expanded their demand for food and manufactured goods.

They also wanted to resist to Parlimentary taxation,the colonists sought to control their economic clout as one unified body. Boycotting was one of the first and one of the most important methods they employed,starting with all the merchants who pledged to refuse all of Britain’s goods in 1765 until the Stamp Act was repealed

Afterwards:The war had disrupted much of the American economy. On the Oceans  the British navy had great superiority and destroyed most American ships, crippling the flow of trade.On the land, where both armies regularly stole from local farms in order to find food, farmers also suffered tremendously.When the fighting came to an end in 1781, the economy was in a shambles. Exports to Britain were restricted. Further, British law prohibited trade with Britain's remaining sugar colonies  in the Caribbean therefore two major sources of colonial-era commerce were eliminated. Then a flood of cheap British manufactured imports that sold cheaper than comparable American-made goods made the post-war economic slump even worse than it was. finally, the high level of debt taken on by the states to fund the war effort added to the economic crisis by helping to fuel rapid inflation.