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The Market Revolution in the 19th century United States is a historical model that describes how the United States became a modern market-based economy. During the mid 19th century, technological innovation allowed for increased output, demographic expansion and access to global factor markets for labor, goods and capital.
One of the real impetuses for the United States entering the Industrial Revolution was the passage of the Embargo Act of 1807, the War of 1812 (1812–15) and the Napoleonic Wars (1803–15) which cut off supplies of new and cheaper Industrial revolution products from Britain. The lack of access to these goods all provided a strong incentive to ...
Railway Mania was a stock market bubble in the rail transportation industry of the United Kingdom of Great Britain and Ireland in the 1840s. [1] It followed a common pattern: as the price of railway shares increased, speculators invested more money, which further increased the price of railway shares, until the share price collapsed.
This led to Jefferson's Embargo Act of 1807 which prohibited most foreign trade. [57] The War of 1812, by cutting off almost all foreign trade, created a home market for goods made in the U.S. (even if they were more expensive), changing an early tendency toward free trade into a protectionism characterized by nationalism and protective tariffs ...
The Life of the Mind in America: From the Revolution to The Civil War. Harcourt Brace Jovanovich. ISBN 9780156519908. Myers, Marvin (1957). The Jacksonian Persuasion: Politics and Belief. Parrington, Vernon (1927). Main Currents in American Thought. Vol. 2: The Romantic Revolution, 1800– 1860. Archived from the original on March 17, 2015.
By the 1830s pro-Jackson Democrats and anti-Jackson Whigs had mobilize practically every adult male voter into their opposing coalitions thereby integrating politics at the local state and national levels Furthermore, the "Market Revolution" was well underway, as industrialization and upgraded transportation networks made the larger picture ...
This worsening situation for railroad workers led to strikes against many railroads, culminating in the Great Railroad Strike of 1877, involving over 100,000 people in multiple cities. [58] The Great Strike began on July 14 in Martinsburg, West Virginia, in response to the cutting of wages for the second time in a year by the B&O Railroad.
[2]: 376 Journalists attributed this rejection to Sellers's submission either being too focused on economics or too pessimistic about the United States during the era; Oxford University Press published Sellers's book separately in 1991 as The Market Revolution: Jacksonian America, 1815–1846.