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What are changes that came when the market revolution hit
Three effects the market revolution had on society
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In American in the 1800s many significant events were going on, but the most important was the Market Revolution. This was a time where the economy expanded, a shift from subsistence farming to surplus farming occurred, and a large-scale production of crops through huge factories and plantations. The Second Great Awakening, a series of religious revivals was happening at this time also from the 1800 to 1850; it sparked as a reaction against the Market Revolution (Davis). This period marked the peak years of the market revolution that took the country from fringe of the world economy to the brink of commercial greatness (Johnson and Wilentz,
6).
The Market Revolution can be defined as the economic transformation that took place in America during
By the turn of the nineteenth century, American industry experienced a dramatic upturn in popularity. However, though this industrialization was crucial for America's economic development, it also inevitably led to social turmoil. Corruption was rampant among government figures, and they bribed people with money, jobs, or favors to win their votes. Referred to as the Gilded Age, this era was indeed gilded, masking a plethora of social issues behind a thin veil of economic success. The most notable problems stemmed from the justification of what was called laissez-faire economics, in which the poor were believed to be poor exclusively based on their own shortcomings. The abundance of disposable factory workers faced awful hours and were treated
The Market Revolution, from 1790 to 1840, inspired by the developments of commercialization, industrialization and the advances in transportation altered the lives of Americans in areas such as labor, transportation, commercialization, family life, new values and the new middle class. American entrepreneurs with new technology created an entirely different economy which shaped and affected all other aspects of society. The Market Revolution gradually shifted society from a rural agricultural lifestyle to the focus of work in the urban cities as it is today. While the vast majority of American citizens participated in agriculture and farming in 1800, the percent of farmers working in 2013 is less than 1 percent: this is the everlasting effect of the Market Revolution.
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.
The Second Great Awakening was extremely influential in sparking the idea of reform in the minds of people across America. Most people in America just accepted things the way they were until this time. Reforms took place due to the increase of industrial growth, increasing immigration, and new ways of communication throughout the United States. Charles Grandison Finney was one of the main reasons the Second Great Awakening was such a great success. “Much of the impulse towards reform was rooted in the revivals of the broad religious movement that swept the Untied State after 1790” (Danzer, Klor de Alva, Krieger, Wilson, and Woloch 240). Revivals during the Second Great Awakening awakened the faith of people during the 1790s with emotional preaching from Charles Finney and many other influential preachers, which later helped influence the reforms of the mid-1800s throughout America.
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.
During the election of 1800, Thomas Jefferson succeeded in defeating the incumbent, John Adams, and assumed the presidency. In terms of elections though, the election of 1800 itself was a fascinating election in that it a heavily-contested election and was effectively the first time political parties ran smear campaigns against each other during an election. The Republican Party attacked the Federalists for being anti-liberty and monarchist and tried to persuade the public that the Federalists were abusing their power through acts such as the Alien & Sedition Acts and the suppression of the Whiskey Rebellion (Tindall and Shi 315). The Federalists, on the other hand, attacked Jefferson for his atheism and support of the French Revolution and warned that his election would result in chaos (316). By the end of the presidential election, neither Adams nor Jefferson emerged with his reputation completely intact. Still, rather than an election between Adams and Jefferson, the election of 1800 ultimately boiled down to a deadlock between Jefferson and his vice presidential candidate, Aaron Burr, who each held seventy-three electoral votes, resulting in the election was sent to the House of Representatives. In the end, the deadlock was resolved only by Alexander Hamilton, whose immense hate for Burr allowed Jefferson to claim the presidency. However, the election of 1800 was more than just a simple presidential election. The election of 1800 was the first peaceful transfer of power from the incumbent party to the opposition and represented a new step in politics, as well as a new direction in foreign policy that would emerge from Jefferson’s policies, and to this extent, the election of 1800 was a revolution.
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 Second Great Awakening was a Protestant revitalization movement in the early 19th century in the United States of America.
...on to its peak. Transportation advances began a unification process across the country both economically and culturally (Roark, 262). The United States finally started to take advantage of the natural resources of the land to benefit the economy. By having water powered equipment, the growth of factories mushroomed, but at the same time, caused a great issue with working conditions and the employment of women. Financing new ventures became an important facet during the market revolution. America’s money supply grew considerably, which led to increased investment opportunities. The market revolution was a fast-paced time for the United States and it introduced a larger scale of the distribution of goods.
“Men desire to have some share in the management of public affairs chiefly on account of the importance which it gives them.” This famous quote by Adam Smith proves what people in the Enlightenment period wanted the most – free market economy and public services. Adam Smith was, in fact, a Scottish economist, who tried to influence the government and convince the ruler to fulfil people’s wishes and needs. Such craving for an “adjustable” trade, led to the first major economic establishment in the Enlightenment period, laissez faire, which banned the government from interfering with private trade. Adam Smith, its huge supporter, managed to get this concept to disseminate safely with various rules and restrictions attached; otherwise, this method might allow too much freedom. The economy during the Renaissance period, transforming especially with Adam Smith’s innovative theories during the Enlightenment, focused on the urge to limit the government’s ability to interfere with the market.
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.
Herman Melville’s Utilization of Bartleby the Scrivener: the Story of Wall Street As a Means of Criticizing Capitalism and Its Crimes Against Humanity Herman Melville's "Bartleby, The Scrivener: A Story of Wall Street" scrutinizes the alienation of labor, the social ideologies and the dehumanizing consequences of the American capitalist society in the 19th century. Bartleby is the main character in the story. The other characters in the story, Ginger Nut, Nippers and Turkey, barely survive their pragmatic enslavement because they have been brainwashed by the ideology of complying and acknowledging their given place in society. Bartleby separates himself from the other scriveners by daringly preferring not to surrender to the capitalistic authority.
America has always been ripe with thinkers and can-doers and the late nineteenth century was no exception. To me, the most fascinating aspect regarding the development during the last quarter of the nineteenth century is that seemed incessant. It is not simply the fact that development was occurring at an accelerated pace, rather it was development which was instantaneously applicable within industrial factories, administrative offices, and private homes in order to increase efficiency. In technological terms, society was moving forward at never-before seen rates. I agree with the text when it stated “revolution is an overused term” (Bowles, 2011) during the late nineteenth century as epic is today. In my opinion, in order for something to be revolutionary or epic it must change how society functions as a whole. Therefore, the most revolutionary developments during the late nineteenth century would have been “the industrial forces set in motion by steam and electricity have materially changed the structure of our civilization.” (Gompers, 1894) meaning, the expanding railroad in...