Economic Problems

Definition

Economic problems refer to the challenges and difficulties faced in managing and maintaining a stable economy, such as high debt, inflation, trade imbalances, and insufficient revenue. These problems can hinder economic growth and stability.

Related terms

Shays' Rebellion: Shays' Rebellion was a protest by farmers against high taxes and debt in Massachusetts. It highlighted the economic problems caused by the Articles of Confederation.

Currency Issues: The lack of a uniform currency under the Articles led to confusion and difficulties in trade between states.

Trade Barriers: Under the Articles, each state could impose tariffs or restrictions on goods from other states, creating barriers to interstate commerce.