Market Revolution

Definition

The Market Revolution refers to the dramatic transformation of the American economy in the early 19th century, characterized by a shift from subsistence agriculture to a more market-oriented economy. This change was marked by advancements in transportation, communication, and manufacturing, which facilitated the growth of commerce and trade, particularly in the context of the agricultural boom and westward expansion.

5 Must Know Facts For Your Next Test

1. The Market Revolution led to significant changes in American society, including urbanization as people moved to cities for factory jobs.
2. Agriculture became increasingly commercialized, with crops like cotton becoming major cash crops that fueled both local and global economies.
3. Improvements in transportation infrastructure, such as roads and canals, facilitated the movement of goods and connected farmers to markets more effectively.
4. The rise of a wage labor system became prevalent during this period, changing traditional labor practices and relationships.
5. The Market Revolution played a crucial role in westward expansion as new markets drove settlers to move west in search of land and opportunity.

Review Questions

• How did the Market Revolution influence changes in labor practices and social structures in early 19th century America?
  • The Market Revolution significantly altered labor practices by introducing a wage labor system, which replaced traditional subsistence farming. This shift led to a rise in factory jobs that attracted individuals to urban areas, contributing to urbanization. As people sought employment in factories rather than working on farms, social structures began to shift, with new class dynamics emerging between industrial workers and rural agriculturalists.
• Analyze the relationship between the Market Revolution and the rise of cash crops like cotton during this period.
  • The Market Revolution directly contributed to the rise of cash crops such as cotton by increasing demand for these products both domestically and internationally. The invention of the cotton gin made cotton processing more efficient, which allowed for greater production levels. This surge in cotton cultivation not only transformed the Southern economy but also created a dependence on slave labor, deepening the ties between agriculture and commerce within the expanding market economy.
• Evaluate how advancements in transportation during the Market Revolution affected westward expansion and economic growth.
  • Advancements in transportation during the Market Revolution were crucial for facilitating westward expansion and promoting economic growth. Innovations such as canals and railroads allowed for faster movement of goods and people across great distances. This improved connectivity enabled settlers to transport agricultural products to market more efficiently, thus encouraging migration westward and contributing to the development of new communities. The enhanced transportation network not only stimulated commerce but also played a key role in shaping America’s economic landscape during this transformative period.

Related terms

Industrialization:

The process of developing industries on a wide scale, leading to increased production capacity and economic growth.

Transportation Revolution: A series of innovations in transportation, including canals, railroads, and roads, that improved the movement of goods and people across the country.

Cotton Gin: A mechanical device invented by Eli Whitney in 1793 that revolutionized the cotton industry by greatly speeding up the process of separating cotton fibers from seeds.