Market Revolution: Industrialization
THEMATIC FOCUS Work, Exchange, and Technology (WXT)
The interplay between markets, private enterprise, labor, technology, and government policy shape the American economy. In turn, economic activity shapes society and government policy and drives technological innovation.
Learning Objective E
Explain the causes and effects of the innovations in technology, agriculture, and commerce over time.
Entrepreneurs helped to create a market revolution in production and commerce, in which market relationships between producers and consumers came to prevail as the manufacture of goods became more organized.
Innovations including textile machinery, steam engines, interchangeable parts, the telegraph, and agricultural inventions increased the efficiency of production methods. KC-4.2.I.C Legislation and judicial systems supported the development of roads, canals, and railroads, which extended and enlarged markets and helped foster regional interdependence. Transportation networks linked the North and Midwest more closely than they linked regions in the South.
Increasing Southern cotton production and the related growth of Northern manufacturing, banking, and shipping industries promoted the development of national and international commercial ties.