Short Summary: The Market Revolution

The Market Revolution The new nation of the United States of America was forged through a number of exceedingly difficult, and usurping revolutions. Though it receives less attention than the other radical changes that took place during the time, the Market Revolution (1815 - 1840) was indisputably one of the most influential revolutions on the life of the average American citizen. Its effects were apparent in every aspect of American life. The Market Revolution reshaped America’s economy, society, and politics by introducing factories, restructuring social practices around factory work and urban life and creating statutes promoting domestic businesses.
The Invisible Hand theory was a term originally coined by Adam Smith in his 1759 work, Theory of Moral Sentiments. In this theory, Smith outlines the principles of what would today be referred to as a capitalistic economy. Basically, in this
The first one of their cases was McCulloch v. Maryland in 1819. This case was a landmark decision on the ability of the state to tax federal buildings. The state of Maryland had tried to impose a tax on the bank of Maryland. This would increase rates and force investors and corporations to pay more money. In a 7-0 decision, the supreme court agreed with McCullough, and in doing so increased federal power and protected growing corporations allowing them to get loans easier. The next case was Gibbons v Ogden, which was a case about allowing steamboat owners with a state license earn money transporting people without a federal license. The Supreme Court decided that the federal government had supremacy over the state government. This protects the market revolution further by allowing the money collected to be taxed by the federal government which provides more funds for building more roads which expands trading. This leads to the Clay’s American system which encompasses the building of roads and