During The American Revolution, What Happened To The Economy?
In simple words, during the American Revolution, the economy of America got completely ruined.
You can understand this, that by 1774-1800, the per capita income of the colonists reduced by 22 percent.
Do you know, this reduction was worse than the time of the Great Depression (1929-1933).
However, there were many reasons for it.
First of all, during that time Great Britain had superior dominance over oceans, hence they disrupted almost all the trades of the 13 colonies that happened through it.
It caused massive inflation rates in the colonies.
On the other side, the British army destroyed American ships, which resulted in a lack of essential supply during the revolution time. Such as foods.
As per some sources, we found that American militias even had to steal or robbed foods for this reason from local cultivators.
Also, the British authority imposed some hard restrictions over manufacturing good and import-export in the 13 colonies.
Once, the war ended the newborn nation was sinking into high debt, which became a major challenge for the new government of America.
However, whatever happened during the wartime; but the aftermath, the scenario started changing for the newborn nation.
Especially, the end of British mercantilism opened a new route for American businesspeople for doing various businesses.
Now America had become independent to trade freely with other countries, which was not possible during British rule.
So, this was the main happening to the economy, during the American revolution.
I hope you have got an idea from here.