The early 19th century was a busy time for America as a whole. This was the time where we really tested out our new power and worked on expansion, rather than survival or rebuilding. At the time many citizens considered it the golden age. This century brought prosperity and poverty, civilization and dehumanization, more trade with other countries but international tension. The Market Revolution was one of the best things that could have happened to the still-new America, but it built up to disastrous changes. The primary characteristic of the Market Revolution was advancement in technology and overall growth. With the invention of the cotton gin, the steamboat, railroads, and the telegraph, America had a very large and very fast boom in …show more content…
All across the country, things were being built in that era. The previously mention railroads, steamboats, and telegraph lines raced to see what could connect cites the fastest. This alone had a major impact on westward expansion. In order to aid the new forms of transportation, thousands of miles of railroad tracks were built, along with the same number of telegraph lines. Going in the opposite direction were canals. Literally, rivers were dug and flooded wide enough and deep enough for large steamships to carry goods across land instead of going around the …show more content…
All these events in American history happened during the same time and fed into each other. It was due to the Market Revolution and the sudden demand for a constant supply of cotton that slavery boomed in the South as a source of cheap labor and high profits. Because both slavery and cotton were currently profitable, the South invested primarily in those two things, almost forgetting about moving forward altogether. As a side note, the South’s lack of investment in transportation and communication did cause them to lose the Civil War, which is great for the North and the present day slave-free United States. Since the southern states were producing so much cotton, the northern states responded by building more textile mills and employing more mill girls. It was an intense, vicious cycle of expansion. All this boils down to profits to fund the Westward Expansion. With Westward expansion, including new settlements in the recent Louisiana Purchase, all it did was fuel the desire for
The Market Revolution can be defined as the economic transformation that took place in America during
In the 1720’s to the 1820’s there were several events, changes, and processes that occurred in America. The three events I am choosing to analyze are: The Great Awakening, The Revolution, and The Market Economy. Each one of these events had a cultural, social and economic aspect. Each one of these events had different impacts and was manifested in several different ways.
Within the economy a great development had been achieved when the upper south handed its power to the lower south all due to the rise of an agricultural production. This expansion was led by the excessive growth of cotton in the southern areas. It spread rapidly throughout America and especially in the South. During these times it gave another reason to keep the slavery at its all time high. Many wealthy planters started a ‘business’ by having their slaves work the cotton plantations, which this was one of a few ways slavery was still in full effect. Not only were there wealthy planters, at this time even if you were a small slave-holder you were still making money. While all of this had been put into the works, Americans had approximately 410,000 slaves move from the upper south to the ‘cotton states’. This in turn created a sale of slaves in the economy to boom throughout the Southwest. If there is a question as to ‘why’, then lets break it d...
In the south, cotton was becoming a huge success for the southern farmer. Cotton, being a very laborious crop, required the ownership of many slaves per plantation. Unlike the immigrants of the north, slaves were property. Slaves were also much less of a profit. When a slave became ill he could not simply be replaced, he needed to be cared for, after all, this was the plantation owners property. On the other hand in the north if a worker became to ill to work, there were several immigrants waiting for the job.
Slavery had a big impact on the market, but most of it was centered on the main slave crop, cotton. Primarily, the south regulated the cotton distribution because it was the main source of income in the south and conditions were nearly perfect for growing it. Cheap slave labor made it that much more profitable and it grew quickly as well. Since the development in textile industry in the north and in Britain, cotton became high in demand all over the world. The south at one point, was responsible for producing “eighty percent of the world’s cotton”. Even though the South had a “labor force of eighty-four percent working, it only produced nine percent of the nations manufactured goods”, (Davidson 246). This statistic shows that the South had an complete advantage in manpower since slavery wasn’t prohibited. In the rural South, it was easy for plantation owners to hire slaves to gather cotton be...
The Market Revolution transformed various aspects of American society because of the development of new inventions, ideologies, and lifestyles. From 1790 to 1840, the improvement of national transportation methods, the commercialization of the American market system, and the beginning of industrialization fostered the Market Revolution and affected the country economically, socially, and even religiously. The Industrial Revolution occurred in Western European countries such as France, England and Germany beginning in 1760 and completely altered the European market, workplace, and society by the time the inventions and technological ideas diffused into the United States. In 1791, Alexander Hamilton expressed “the necessity of enlarging the sphere of our domestic commerce”1 and therefore supported and funded American industries. With the help of the government, the Market Revolution initiated the expansion of the marketplace due to the connection of distant communities, such as western cities with seaboard cities, for the first time due to the advances in infrastructure. This would cause the shift away from local and regional markets to national and international markets abroad. The Market Revolution changed aspects of American life such as labor, transportation, commercialization, family life, new values produced by evangelical religion, sentimentalism, and transcendentalism, and the birth of the new middle class from 1790 to 1840.
The late 19th century and early 20th century, dubbed the Gilded Age by writer Mark Twain, was a time of great growth and change in every aspect of the United States, and even more so for big business. It was this age that gave birth to many of the important modern business practices we take for granted today, and those in charge of business at the time were considered revolutionaries, whether it was for the good of the people or the good of themselves.
Railroads first appeared around the 1830’s, and helped the ideas of Manifest Destiny and Westward expansion; however, these were weak and didn’t connect as far as people needed, thus causing them to be forced to take more dangerous routes. On January 17th, 1848, a proposal was sent to Congress by Asa Whitney to approve and provide federal funding...
Secondly, the demand for cotton grew tremendously as cotton became an important raw material for the then developing cotton industries in the North and Britain. The growing of cotton revived the Southern economy and the plantations spread across the south, and by 1850 the southern U.S produced more than 80% of cotton all over the world. As this cotton based economy of the south grew so did the slave labor to work in these large scale plantations since they were more labor-intensive...
Also, in the South, it was hard, rough work in the hot sun and very few whites were willing to do the work, therefore, most plantation owners purchased slaves to work the land. The plantation owner gave the slaves shelter and a small food allowance as a salary. Thereby, the plantation owner "saved" his money to invest in more land, which of course required more slaves to continue to yield a larger profit. An economic cycle was created between plantation owner and slave, one that would take generations to end. Slaves were now a necessity on the larger plantations to work the fields.
Many other farming machines were also developed during this time period, they all made farming in the west much more popular, easier, and profitable. The Trans-continental railroad was started in 1862, even though other trains were already running in different parts of the U.S. The telegraph also went up along with the railroads, although the first time it was used was in 1844. All four of these major technological advancements have helped the United States really get going on their Manifest Destiny. The economy would also blossom during this expansion.
The years after the civil war left one half of America, the north, satisfied and the other half, the south, mostly dissatisfied. Therefore the last third of the nineteenth century, 1865-1900, was a time period in which America was mending, repairing, improving, reshaping, and reconstructing its society, economy, culture, and policies. Basically it was changing everything it stood for. This continual change can be seen in the following events that took place during this time. These events are both causes and effects of why America is what it is today. These are some examples: the reconstruction of the south, the great movement towards the west, the agricultural revolution, the rise of industrialism, the completion of the transcontinental railroad, and America's growth to gaining world power. All of these are reasons and events that characterize America as being an ever-changing nation.
In the first half of the nineteenth century, the Market Revolution was famous in America. It was an economic revolution marked by industrialization, improvements in transportation, and expansion. People had difficulties selling their production because of the poor transportation and many family lived in the self-sufficient mode. However, this problem was solved because of the invention of the steamboat,
The market revolution was a time of change, liberation, growth, and of course American ingenuity. This new kind of revolution brought about many changes in the lives of Americans everywhere. New technology from the steamboat to the telegraph connected the country in a new way. The emergence of factories (and the factory system) brought the growth of commerce, specialization of products, and many jobs to a rapidly growing nation. The market revolution benefited our country by impacting the social groups of the slaves and the middle class, generating a change in laws of the economy and warranting the redefining of freedom.
The market today has become so important that society takes it as completely natural. From “The Economic Problem” Heilbroner describes three main solutions, with the market being one. Furthermore into the market, Polanyis book “The great Transformation” gives insight on how much society actually allows the market to dominate. To Polanyi a market society is seen as social relations embedded in the economy instead of the economy being embedded in social relations. Examining both of these books gives a great understanding on how life was without the market and how it came to be. Taking note of Rineharts work as well on how the workplace has drastically been changed by the market is key to analyzing the transformation as a whole. As a result of the transformation, not only has human labour been altered, but another author known as Weber states that certain peoples view on the world have also be affected. This essay will establish how “the great transformation” (Polanyi) from a traditional society to one based on a market economy has vastly impacted societal workplaces, and societal beliefs around faith of idealogical conditions.