The Articles of Confederation and Perpetual Union was the first written constitution of the United States. Written in 1777 and stemming from wartime urgency, its progress was slowed by fears of central authority and extensive land claims by states. It was not ratified until March 1, 1781. Under these articles, the states remained sovereign and independent, with Congress serving as the last resort on appeal of disputes. Significantly, The Articles of Confederation named the new nation “The United States of America.” Congress was given the authority to make treaties and alliances, maintain armed forces and coin money. However, the central government lacked the ability to levy taxes and regulate commerce, issues that led to the Constitutional Convention in 1787 for the creation of new federal laws under The United States Constitution.
It contributes to economic growth and transparency. It ensures competitive markets. ... Supply and demand create competition, which helps ensure that the best goods or services are provided to consumers at a lower price.
