Introduction The Regional Dimension of Market Revolution Market revolution national in scope but with important regional variations Manufacturing and industrial revolution in New England northeastern cities ID: 586745
Download Presentation The PPT/PDF document "The Market Revolution" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
The Market RevolutionSlide2
Introduction: The Regional Dimension of Market Revolution
Market revolution: national in scope, but with important regional variations
Manufacturing and industrial revolution in New England, northeastern cities
Commercialization of farming driven by transportation revolution in northwestCotton Revolution in southResult: regional economies, but with increasing economic integration between northeast and northwest as processes worked in tandem Laid groundwork for political sectionalismSlide3
What is a Market Revolution?
Not just more economic activity, but a
new market orientation
Detaches people from local markets, connects them to distant commercial marketsFor-profit, cash farming displaces subsistence and safety-first farmingSlide4
What is a Market Revolution?
Leads to rising debt, rising risk, increased opportunities, increased consumption, increased dependency on factors beyond local control
Also
new way of organizing work, new kind of relationship between worker and employerGives rise to social reform movementsSlide5
What is a Market Revolution?
Undermines patriarchy,
changes gender roles
in complicated waysNew domestic ideal for urban middle classMore women and children in manufacturing workforceRadicalizes women as workers, reformers, feministsSlide6
Which group would NOT benefit from the growth of the market-based economy?
Plantation Owners
Women
SlavesImmigrantsSlide7
The Northern Economy before 1815
The eighteenth-century composite farm
Goal: competency
Means: safety-first agriculture, Yankee ingenuityHouseholds and neighborhoods: the borrowing systemStable, patriarchal social orderSlide8
The Northern Economy before 1815
Pre-industrial manufacturing
The workshop system
The putting-out system (Outsourcing?)Slide9
Economic and Political Impact of the War of 1812
Spur to manufacturing and economic independence
Indians subdued, opening northwest to unhindered white settlement
Clay, the National Republicans, and the American SystemThe Second National BankThe Tariff of 1816Internal improvementsBottom line: government policy underwrote market revolutionSlide10
Labor is the source of valueSlide11
Transportation before 1815
Overland travel
Bad roads
High freight costsLong travel timesRiver travelOne way trips easy enoughThe steamboatBut benefits uneven: must live near a riverSlide12
Transportation Revolution
Surge in western population, but limited access to eastern markets
Canal boom: the Erie Canal, 1825
364 miles long, 40 ft wide, 4 ft deepLinked Great Lakes to Albany and NYCTransformed the northern economySlide13
Transportation Revolution
Consequences in old northwest
Population explosion
Boom in canal-building, commercial farmingMechanization: the McCormick reaperRaised standard of living, increased dependency on credit, distant marketsSlide14
Transportation Revolution
Consequences in the northeast
End of safety-first farming
Enabled urban growth, manufacturingProvided growing domestic market for manufactured goodsIntegrated northeastern and northwestern economies, which grew in tandemImpact on communities and householdsSlide15Slide16
The Transportation Revolution is an effect of the Market Revolution?
True
FalseSlide17
Industrial Revolution: British Origins
What made it possible?
Capital from merchant class
Mass marketsMechanized productionCheap free labor (wage labor)Slide18
The Lowell Mills
Francis Cabot Lowell
Integrated productive processes (cleaning, spinning, weaving) under one roof
at Waltham millsBy 1836, 17,000 workers, mostly women and girlsSlide19
The “culture” of the Lowell MillsSlide20
Daily Schedule for Lowell Mill GirlsSlide21
Mill Girl, 1850Slide22
Significance of Mill Girls
Female labor helped keep production costs down, which made goods cheaper, which was tied to middle-class growth
It reshaped society and brought more women into the workplaceSlide23
Booth Cotton Mills MuseumSlide24
The Lowell Mills were an example of which aspect of Adam Smith’s capitalist theories?
Division of Labor
Laissez-Faire
Positive-Sum Game TradeSlide25
Summary
Before the Market Revolution:
Slow transportation
Many things produced in the householdProduction outside the home in a workshop economyMost Americans lived in rural areasMost women confined to the “domestic sphere”
After the Market Revolution:
Better transportation (railroads, etc.)
Rise of factory system
Urban growth
Some women worked outside the home in factoriesSlide26
Impact of Industrialization
Destroyed artisan class
Segregation of work from life
Preindustrial workshopsMasters and workers “like a family”Work and living space the sameSocial lives integratedIndustrial systemMasters absent, workers in boarding housesNeighborhoods segregated
Socializing segregated: class-based values, conflict surrounding forms of leisure (esp. drinking)Slide27
Impact of Industrialization
Undermined patriarchal family
Children earning own wages, more independent
Altered outlook and lives of womenTime and work disciplineAdjusting to industrial rhythmsLed to further calls for reformReligious ferment (change), social reform, utopian experimentationSlide28
Market Revolution and Community
Northern responses to industrial and commercial transformation
Some profited from it
Some rejected it Many victimized by itIt gave rise to new forms of community, new religious movementsSlide29
Social Hierarchy
Industrialists
Capitalists
Middle Class
Wage Laborers
PoorSlide30
Opinion Poll: Which of the following happened the most in response to the Market Revolution?
Many Profited from it
Many Rejected it
Many were victims of it