The Market Revolution Crash Course US History

John Green discusses the Market Revolution, a transformative period in US history marked by technological advancements in transportation and communication, the rise of factories, and significant economic changes. The government played a crucial role in supporting economic growth, while societal shifts included changes in work and migration patterns. Intellectual responses, such as transcendentalism, emerged in reaction to these changes.

What was the primary shift in the economy during the Market Revolution?

• From industrial production to agriculture

• From local markets to self-sufficient farming

• From self-sufficient farming to market-based production

• From international trade to local trade

Which transportation innovation significantly reduced the cost and time of moving goods?

• Airplanes

• Steamboats

• Automobiles

• Bicycles

What was the most important long-term transportation development during the Market Revolution?

• Airports

• Highways

• Canals

• Railroads

What was a key feature of the American system of manufacturing?

• Mass production of interchangeable parts

• Custom-made products

• Handcrafted goods

• Limited production runs

How did the limited liability corporation benefit investors?

• By providing government bailouts for failed ventures

• By limiting their losses to their own investments

• By allowing them to avoid any financial risk

• By ensuring personal responsibility for all losses

What was a major change in the nature of work due to the Market Revolution?

• Work was regulated by the clock

• Work became more seasonal

• Work hours were determined by daylight

• Work was primarily done at home

Why were women initially employed in textile mills during the Market Revolution?

• They owned the mills

• They were seen as more skilled

• They demanded higher wages

• They were cheaper to employ

What was the transcendentalists' view on freedom?

• Freedom was irrelevant in a market economy

• Freedom was a result of government intervention

• Freedom resided in an individual's power to remake oneself

• Freedom was found in economic success

What was a common reaction to the restrictions of wage work during the Market Revolution?

• Joining the military

• Migration to urban centers

• Lighting out for the territories

• Returning to self-sufficient farming

What did the formation of working man's parties and unions signify?

• A decline in industrial jobs

• An increase in agricultural work

• A shift towards self-employment

• A demand for better wages and conditions