What factors led to the Market Revolution in the antebellum era? What was the difference between the “Market Revolution” and the “Industrial Revolution”? How was the “American System” important in that context?
The factors that led to the Market Revolution in the antebellum era :-
Market revolution is nothing but the revolution in the market system where the barter system is replaces with the selling of the same products for a price defined by the farmer who produced it.
Previously farmers used to produce the goods to the extent that they need. But due to the introduction of working with mechanical parts made of steel or iron which can be termed as “INDUSTRIAL REVOLUTION “ made the farmers to produce the goods more than what they need. This made them to sell the products to their desired prices.
This led to the agricultural revolution is one of the factors
The introduction of transportation system for the goods to the location where the products demand is high led to the development of the “roadways and canal systems”.
This led to increase in the individual economic status led to acquiring the lands and keeping workers and slaves for the production which led to economic revolution.
The difference between “Market Revolution” and the “Industrial Revolution” is nothing but the usage of mechanical parts which will automatically do the work for farmers and helps in transportation is the industrial revolution where as market revolution is nothing but the increase in production and transportation of good with the help of newly developed machines.
“American System” is very important in the revolution as it made a way for the improvement in laying down taxes for the improvement and maintenance of roadways and building roads and keeping a standard price for the good based on the demand and production led to the unity in the producers .
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