It led to inflation
Since the value of money was based on gold and silver and since Spain got a lot of gold and silver, the money started losing value rapidly and it led to an inflation. Inflation is when money loses value so you need more money to pay for things that were cheaper before when money held higher value. They basically over-saturated the economy with gold and silver.
Answer:
NAFTA
Explanation:
The NAFTA, the short for the North American Free Trade Agreement, was signed by the former President Bill Clinton as he supported neoliberal reforms between the member states of Canada, US and Mexico.
He is famous for a speech where he expresses the alleged gains that were promised on December 1993.
According to him, "NAFTA means jobs. American jobs, and good-paying American jobs. Interesting would be to notice whether the results were indeed generalized to the workers and the economy of the neighbouring countries. Undoubtly the Treaty has boosted economical activity, however from a sociological or crticial view, even at that time Congress strongly debated the consequences in the future.
In Mexico this caused the increased dependency and assymetric relationship between North and South that today continues to be a challenge in the world. Causing the gap between economies to broaden.
The generation of the founding fathers was greatly affected by the historical context in which they lived. Absolute rulers, meaning monarchs who essentially abused their powers to the highest degree, were common during the Low and High Middle Ages, which ended only about a century before the Revolutionary War. The founders and other important statesmen found it to be imperative for this new country to have a set division of power and for branches of government to rule the country as opposed to a singular person deciding all national and state affairs. That would be a partial explanation for a division of power, however. The founders also avoided giving any one branch more power or importance than another. A system of checks and balances would ensure that no branch could undermine the other or seize whole control of the government. This concept would apply both for state and federal governments. The existence of these two governments originates to the inception of this country and the colonies’ representatives vouching for each colony to have its own state government with rights and privileges that the federal government would not have. Colonies had distinct identities and colonists prided themselves in being true Virginians, or New Yorkers, etc. State governments were bound to evolve from the colonial governments that were in place before the revolution. In an ideal world, the state and federal government would collaborate to ensure that the Declaration’s vision for Americans is realized. However, as history has shown, tensions between federal and state government have been documented throughout this nation’s history.
You can get this from American backers
George Washington. hope this helped