1800's Market Economy Growth

This short article goes over some of the reason America shifted from a subsistence economy to a market economy...

1800's Market Economy Growth 

            During the nineteenth century many changes took place within the United States government. Looking back on its early years to the present day, it’s clear that America has been constantly working to better the American dream since its beginnings. Originally our nation was considered a subsistence economy. Many of the farmers grew what they needed to survive and bartered for the other necessities of life. It was not nearly as important to sell crops and become wealthy as it was to just grow what they needed. However as America strengthened and there became easy ways of transporting crops and goods over lots of land, suddenly a market economy sprung up. This economy gave the farmers a reason to grow as much crop as they could, so they could sell the surplus and become wealthier. This shift was the result of many things. First off, as America expanded more and more people came to the growing nation. The large amount of people caused an increased demand for products and food. As the government worked on the creation of roads, canals, and other forms of transportation, the farmers suddenly saw the advantage of selling their crops in the surrounding areas for cheaper than they would have years earlier. Americans also were starting to enjoy their self sustaining economy. Instead of relying on foreign trade, they were becoming more and more able to grow their own supplies. To top it all off, American inventors also were starting to work hard to make their farmers get the most out of their land and labor. Products such as the steam engine, power mills, more efficient plows, easy to make guns, and even machines to make 200,000 nails a day were just a few of the many inventions that made it inviting for America to start their own Market economy. One of the biggest creations that started it however was the easy transportation. Over these years America had improved their roads, and made advantage of waterways by the creation of steamboats. Canals also made it easier to get products needed in different areas there quickly and efficiently. With all these innovations, it’s no wonder that when farmers started to produce more and more surplus, the option of gaining wealth by selling it was very intriguing. As more and more people saw the advantages of a market economy, inventions sprang up and a market economy soon became a great transition for the American people.