How Did The Market Revolution Affect The Economy

Abby Thompson
Campbell
History 130 Online
12 May 2023

Economics and Labor The Colonial Era was when the eighteenth-century American culture started moving in more ambitious directions. This meant that military, cultural, and commercial ties began tightening between Great Britain and North American colonies. This all happened while American culture was just beginning to form (The American Yawp Reader: Colonial Society: Reader: Introduction, N.A.). New Amsterdam was a big deal in colonial America. In history, they claim “the Dutch bought the land of New Amsterdam from the Indians”. New Amsterdam was then described as a “commercial venture” in America. The Dutch then began letting anyone in as long as they were able to make a profit. After

The Market Revolution was very important for the future of America because it introduced new technologies, mass production and changed the idea of working. This revolution was the beginning of people making goods to sell to others rather than just keeping them for themselves and they were able to make a profit off of this. The beginning of the modern industrial economy was due to new technology being created. This technology was used for transportation and communication. The new technology for shipping these items was better roads, steamboats, building more canals, and railroads. These new canals would cause people to spread out and build their homes along them to make it easier to ship their items. In a diary written by a traveler they describe the journey down the newly built Erie Canal and how convenient and cheap it was (American Yawp Reader: A Traveler Describes Life Along the Eerie Canal, N.A.). Railroads began in 1828 and these became a very popular way to ship goods. Because of all these new technologies for shipping these people also needed somewhere to mass produce the item. This problem paved the way for factories which made things faster and more efficient. But all of these new technologies required upfront banking but America had not updated their banking systems. The next step was the Limited Liability Corporation which is still standing and thriving today in America. This policy allowed the investors to finance these products without being responsible for the failure of the company. This allowed a ton of economic growth for companies and goods because they have money to support their business and allow it to grow and prosper. All these improvements in technology like canals and new roads altered the physical landscape in America for the better but also the economy (The Market Revolution: Crash Course U.S. History #12,