Market Revolution

Definition

The Market Revolution refers to the period in 19th-century American history when an agrarian society of small producers evolved into an industrialized nation of consumers.

Related terms

Industrialization: The process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods.

Capitalism: An economic system where trade and industry are controlled by private owners for profit.

Consumerism: A social and economic order that encourages the acquisition of goods and services in ever-increasing amounts.