The significant change in the way goods were produced and sold in the United States during the 19th century, leading to an increase in industrialization and commercialization.
Industrialization: The transition from manual labor to mechanized production in the 19th century that fueled the Market Revolution.
Transportation: The expansion of roads, canals, and railways that facilitated the movement of goods and people across the country during the Market Revolution.
Urbanization: The growth of cities as centers of commerce and industry during the Market Revolution.
Capitalism: The economic system that emerged during the Market Revolution, based on private ownership of the means of production and the pursuit of profit.
Labor: The changing nature of work during the Market Revolution, including the rise of wage labor and the formation of labor unions.
Banking: The development of financial institutions, such as banks and stock markets, that provided the funding necessary for the growth of industry and commerce during the Market Revolution.
Entrepreneurs: The individuals who took advantage of the opportunities provided by the Market Revolution to start new businesses and create wealth.
Technology: The innovations in machinery and other forms of technology that transformed industry and enabled greater productivity during the Market Revolution.
Trade: The expansion of domestic and international trade that fueled the Market Revolution and created new markets for goods and services.
Social and cultural changes: The changes in social and cultural attitudes and norms that accompanied the Market Revolution, including the rise of individualism and consumerism.
Industrialization: The Market Revolution brought new technologies and innovations that transformed the way goods were produced, distributed and consumed across America. The industrialization of the North brought forth mass production of commodities, made possible by new machines and factories that could produce goods at a much faster rate than before.
Transportation: The construction of new transportation systems and the growth of existing ones allowed goods to move more efficiently and cheaply than before. Canals, roads, and railways facilitated the movement of raw materials from the West to the Northeast and the shipment of manufactured goods to the South.
The emergence of the factory system: The Factory System became a dominant feature of the American economy. It was able to bring a large labor force under one roof and introduce technologies, such as the cotton gin, that had the power to significantly increase production.
Agricultural productivity: As the transportation became more efficient, farmers began to produce more crops and sell them on broader markets. Subsequently, the American agricultural sector became more commercialized.
Banking: The Market Revolution brought forth the emergence of new financial institutions, such as commercial banks and investment funds, that allowed businesses to access capital, and Americans to buy and invest at scale.
Urbanization: The growth of industries and transportation led to the migration of people from rural areas to urban areas in search of work, and the creation of towns and cities with a thriving merchant and services sector.
Expansion and globalization: The Market Revolution set the stage for American industrial expansion, it opened up new trade opportunities with international markets, and increased information exchange between countries.