Market Economy Essay

A market economy is an economy in which everything one makes or produces regards investment, production, and distribution. This is based on supply and demand, and prices of goods and services are determined in a free price system; meaning merchants determine the prices. At first farmers were only concerned about survival and producing enough goods for his family; but around the 1810 was the beginning of the market economy and social reform. The whole point of the market economy was to make money and to supply and demand. Adjacent with the growth of the market economy come the demand; people wanted more, this helped with the growth of technology and transportation. The market economy was a northern phenomenon, but the idea was rejected by the South because it was starting to abolish slavery. The technology of the 1800s began to become more advanced, such as “Eli Whitney for the cotton gin in 1794, Eleuthero du Pont for the improved manufacture of gunpowder in 1804, and Robert Fulton for the steamboat in 1809,” and

Napoleon was a defeated because of the Haitian Revolution and the war between the French and the British were over, this allowed the U.S. to breathe because the constant had ended. The Era of Good Feelings brought and sighs of relief and a peace of mind to the U.S. during the era the United States began to form a strong nationalism and began to have objects of attachment such as the flag and the new forming nationalism. During this time James Monroe has started his presidency and also during this time the Pan-Indian idea had ended, allowing more Americans to move and colonized more land; shortly after the Era of Good Feeling started the rise of the middle class. Though this time period was called the Era of Good Feelings, there was a lot of tension between the North and the South due to the “. . . major crisis over slavery in America was averted by the passage of the Missouri