The Market Revolution, Industrialization, and New Technologies

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How did the market revolution change the United States?

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The Market Revolution of the nineteenth century changed the United States by ushering in modern capitalism and a market economy. It was the result of a number of developments, including the rise of textile mills in the American Northeast, the cotton economy in the South, and the development of new technologies in communication (the telegraph) and transportation (steam locomotives.) It also featured new production technologies, like interchangeable parts, that facilitated mass production of goods that had previously been manufactured in small shops by craftsmen.

The implications of these developments were profound. The Market Revolution led to unprecedented economic expansion, but it also created economic volatility. Economic panics gripped the country at approximately 10-year intervals beginning in 1819. Many working-class men found that their jobs changed in ways that threatened their social standing, as mass production threatened to make many crafts obsolete. Debates over the proper...

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