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Causes Of The Market Revolution

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In the years leading up the American Civil War, a pivotal moment for both America and the world, society was revolutionized within the United States. Specifically, the American Economy progressed from an artisanal business model, where individual citizens specialized in a craft and sold domestically on a small scale, towards a more capitalist environment, where wealthy individuals used capital to create large factories and increase output. Moreover, the main cause of the Market Revolution was a drastic increase in the capabilities of technology during this time period, known as the “era of good feeling”. Furthermore, as a result of the Market Revolution, the life of the everyday American changed completely, no longer were the days of working …show more content…

The implementation of the factory system of output required a state of high employment, in order to maximize output, thus, offering work to millions of Americans. For instance, in a journal published by the National Institute of Health, Charles Hirschman writes that the Market Revolution contributed directly to an increased standard of living in the United State. Specifically, he writes, “Theses changes [increased quality of life] were the direct result of the American [Market] revolution that was founded on rising investment, employment, and productivity in the manufacturing sector”(Hirschman 2). In his analysis, Hirschman writes that the Market revolution, which was paired with increasing economic and job growth, led directly to an increase in the number of jobs available for American citizens. Furthermore, this also led to increased labor market competition, raising wages and increasing the standard of living for those employed. Furthermore, in an Editorial written regarding working conditions, an author states: “It has been the object of the editor to encourage the cultivation of talent, and thus open and enlarge the sources of enjoyment…”(Document E). Concerning the cultivation of talent, the writer conveys that the introduction of the factory based system of work has led to new opportunities for the American worker, who now could rise upwards in the social ranks of the United States. Moreover, a report by the Federal Reserve claims that during that: “Over time, providence and human ingenuity make it possible for given amounts of labor and resources to produce more goods than they could before”(18). The report focuses on the evolution of the American economy during the time of the Market Revolution, and the analysis concludes that the development of new systems of labor led to an increased state of employment

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