The Market Revolution

The Market Revolution - The Market Revolution In A Nutshell...

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Unformatted text preview: The Market Revolution In A Nutshell The "market revolution" is a term used by historians to describe the expansion of the marketplace that occurred in early nineteenth-century America, prompted mainly by the construction of new roads and canals to connect distant communities together for the first time. Inspired by the success of the Erie Canal, states poured millions into transportation networks that spurred economic growth. But the market revolution refers also to a new approach adopted by farmers and manufacturers to their work. With distant but lucrative markets now accessible, they now produced "for the market," rather than for personal consumption, and they engaged in elaborate calculations designed to maximize their profits in these markets. The market revolution brought greater opportunities to some farmers, craftsmen, and entrepreneurs. But since the greatest success was realized by those who understood how to "work the market"how to secure capital, arrange transportation, advertise and distribute goodsthe...
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The Market Revolution - The Market Revolution In A Nutshell...

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