How Did The Market Revolution Affect The Economy

During the Era of Good Feelings, 19th century, the beginnings of a new way to manufacture and supply goods reached America and completely shifted its economy. Like the Industrial Revolution, the Market Revolution was a process that changed and shaped the way American citizens worked and spent their money. Shifting from a Jeffersonian vision - agrarian nation and independent farmers separated from the influence of the wealthy - to a Hamiltonian vision, which advocated for banks and factories, marked the beginning of the Market Revolution and the switch of a America to a manufacturing based economic society. The Market Revolution succeeded in boosting the economies in both the Northern and Midwestern states through the creation of new transportation networks, the American System, and organized manufacturing. The first largest transportation route that opened new economic possibilities in the North was the Erie Canal. This new network of transportation completely opened the economy from local and regional markets to

Federal and local government investment in the nations infrastructure opened trade for the Midwest with the North and vice versa. Government involvement played a key role in setting the foundation for large-scale domestic manufacturing and trade by setting tariffs on their goods, which greatly benefitted the Northern economy, and creating banks, which created capital through deposits and funds and in turn, led to the creation of more businesses and factories. More businesses and factories controlled the economies and turned America into an independent and self-reliant country, which greatly proved to foreign countries that the young country would be a strong competitor or