The Market Revolution: Crash Course US History #12

Summary

In this Crash Course US History episode, John Green explores the Market Revolution, a transformative period in early 19th century America. It delves into the shift from agrarian self-sufficiency to an interconnected, industrialized economy fueled by innovations like roads, canals, railroads, and factories. Green discusses how this revolution changed labor, with more Americans working for wages in factories, and how government support and new business structures facilitated this change. He also touches on the social and intellectual responses to these changes, including transcendentalism and early labor movements, and the ongoing implications for freedom and work.

Takeaways

• 🚂 The Market Revolution was a significant shift in the US economy during the early 19th century, transitioning from self-sufficient farms to industrialized commerce.
• ⚙️ The revolution was driven by technological advances, particularly in transportation (roads, canals, railroads) and communication (telegraphs).
• 🏭 Factories emerged as organizational innovations, centralizing workers and tasks, which boosted efficiency and production, especially with water and steam power.
• 💰 The growth of the modern American economy required large capital investments, facilitated by new business organizations like limited liability corporations.
• 🏛️ Government played a key role in the economy, building infrastructure and passing laws that promoted competition and protected businesses.
• 👩‍🔧 The shift from home-based work to factory jobs changed the nature of labor, leading to wage-based work that was regulated by time, not productivity.
• 🚜 Westward expansion during this period was fueled by the belief in 'Manifest Destiny,' where Americans believed it was their right to settle the continent.
• 📉 The rise of industrial work led to economic disparities, with workers forming unions and political organizations to demand better conditions.
• 📚 Transcendentalists like Emerson and Thoreau responded to the Market Revolution by emphasizing individual freedom and self-reliance in an increasingly regimented world.
• 📖 Herman Melville’s 'Bartleby the Scrivener' reflects on the alienation and meaninglessness of work in the market economy, offering a critique of the period's changes.

Q & A

What was the Market Revolution and why is it significant?

The Market Revolution was a process in the early 19th century where America transitioned from small-scale, local production to a more commercial, industrial economy. It marked the shift from self-sufficiency on farms to producing goods for sale in distant markets, transforming both the economy and the way Americans worked and lived.

How did new transportation technologies contribute to the Market Revolution?

New transportation technologies like better roads, canals, steamboats, and railroads dramatically reduced the cost and time of moving goods. These innovations expanded markets, allowing goods to be sold over long distances and contributing to the growth of a national economy.

What role did the government play in the Market Revolution?

The government played a crucial role by building infrastructure like roads and canals, passing laws that made it easier to form corporations, and protecting businesses through the Supreme Court. This support helped facilitate the growth of capitalism in America.

Why were factories significant during the Market Revolution?

Factories were important because they centralized production, increased efficiency, and introduced mass production techniques. Workers were brought together to perform specialized tasks, making goods faster and cheaper, which transformed how labor and industry functioned in the United States.

How did the Market Revolution change the nature of work for Americans?

The Market Revolution shifted many Americans from working at home or on small farms to working in factories where they were paid wages. Time became more regimented, with factory work being controlled by the clock, and people began to work for employers instead of themselves.

What impact did the telegraph have on the American economy?

The telegraph allowed for faster communication, enabling merchants to better anticipate when goods would arrive and how much they would sell for. This increased efficiency and information flow helped strengthen markets and contributed to economic growth.

Who were the early factory workers, and why were they employed?

Early factory workers were often young women, particularly in textile mills like those in Lowell, Massachusetts. They were employed because they were considered cheaper labor, as it was assumed they would not be the primary breadwinners of their households.

How did the Market Revolution affect gender roles and women's work?

The Market Revolution began to pull women into industrial labor, particularly in textile factories. However, women were paid less than men, reinforcing the belief that they were secondary earners. This shift also altered traditional roles, as work moved outside the home.

What was the 'putting-out system' and how did it change during the Market Revolution?

The 'putting-out system' was a production method where factory owners sent materials to workers who would complete tasks at home. As factories grew, it became more efficient to gather workers in one place, although the putting-out system persisted in some industries.

What were some intellectual and literary responses to the changes brought by the Market Revolution?

The Transcendentalists, like Ralph Waldo Emerson and Henry David Thoreau, emphasized individualism and the freedom to reinvent oneself in response to the regimentation of factory work. Herman Melville's story 'Bartleby the Scrivener' also critiqued the lack of meaning in industrial labor.