The Revolutionary War Began in Spring 1775

question 126

Essay

The Revolutionary War began in spring 1775.Why did the colonists who took up arms insist until early 1776 that they were only fighting for their "rights of Englishmen," not for independence?

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Definitions:

Positive Externalities

Benefits experienced by third parties due to the actions of others, for which the third party does not pay.

Chronic Budget Deficits

Persistent shortfalls in a government's budget where expenditures surpass revenues over an extended period.

Unfunded Liabilities

Financial obligations that do not have enough funds set aside to cover them, often relating to pensions or other long-term commitments.

Monetary Policy

The management of the money supply and interest rates by the central bank to influence economic growth and stability.