What were the negative aspects of the new market economy? What were the positive aspects of the new market economy? How did the creation of a single market economy shape American values and the economy of today?
This is what I have so far.
The negative aspects of the new market economy were that the stability of prices were constantly going up and going down just as quickly. Another negative aspect was that it took some of the sellers a long time to get to their destination and it also took them through dangerous courses.
Some of the positive aspects were that a faster and more efficient way of transportation was implemented. Roads and canals were opening making it easier and much faster to travel.
.... ok what I can't find is more positive aspects and, How did the creation of a single market economy shape American values and the economy of today?
Maybe some suggestions??
Sorry that is HIS 115. Sticky keyboard.
Which time period does your "new market economy" encompass?
Your reference to roads and canals implies it's the early 1800s. Right?
Please post a confirmation about this time period. Then I'll try to help you further.
Yes it is, during the time after the War of 1812.
Another positive is the population growth which increased sales. With a large country composed of many states, the U.S. citizens felt unified. The Constitution guaranteed equal treatment for all and free trade between the states.
Perhaps this site will help.
http://en.wikipedia.org/wiki/Single_market
How does this sound??
The negative aspects of the new market economy were that the stability of prices were constantly going up and going down just as quickly. Another negative aspect was that it took some of the sellers a long time to get to their destination and it also took them through dangerous courses.
Some of the positive aspects were that a faster and more efficient way of transportation was implemented. Roads and canals were opening making it easier and much faster to travel. Another positive is the population growth which increased sales. With a large country composed of many states, the U.S. citizens felt unified. The Constitution guaranteed equal treatment for all and free trade between the states.
The creation of a single market in America laid the track for a nationwide rail network that enabled citizens to travel farther and faster than ever before. It built the factories that provided vital building materials for the growing cities. It amassed the capital that underwrote new projects in national transportation, production, and distribution networks. It fostered an economic system that prized ingenuity and efficiency.
Looks good! :-)
Thank you Ms. Sue, as always you are sooooo helpful. I am gonna start writing my last name so that you can remember me. Jessica is such a common name.
Oh! My last name is Fuentes.
Sure! Let's explore some additional positive aspects of the new market economy and how it shaped American values and the economy of today.
Positive aspects of the new market economy:
1. Economic growth and innovation: The introduction of a market economy led to increased competition and innovation. Entrepreneurs and businesses were motivated to develop new products, improve existing ones, and find more efficient production methods. This paved the way for economic growth, job creation, and higher standards of living.
2. Increased specialization and productivity: The market economy allowed for the specialization of labor and resources. As businesses focused on their core competencies, productivity and efficiency improved. Specialization also led to more diverse and specialized goods and services being available to consumers.
3. Individual freedom and choice: A market economy gives individuals the freedom to choose which products to buy, where to work, and how to invest their resources. This freedom of choice empowers individuals and promotes personal autonomy.
How the creation of a single market economy shaped American values and the economy of today:
1. Emphasis on competition: The market economy fostered a culture of competition, which became a core value of American society. The idea that hard work, innovation, and competition lead to success became deeply ingrained in the American psyche. Competition continues to drive economic growth, productivity, and technological advancements in the United States.
2. Entrepreneurship and risk-taking: The market economy encouraged entrepreneurial ambition and risk-taking. It created a fertile ground for individuals to start their own businesses, pursue their ideas, and take calculated risks. This spirit of entrepreneurship continues to shape the American business landscape, fueling economic growth and job creation.
3. Consumer-centric approach: The market economy made consumers the driving force behind economic decisions. Businesses had to cater to consumer demands, offer competitive prices, and provide quality products and services to succeed. The emphasis on meeting consumer needs and desires led to a customer-centric approach in American business, which still prevails today.
4. Economic dynamism: The creation of a single market economy brought together regions, industries, and people from diverse backgrounds. This economic integration fostered a dynamic and interconnected system, facilitating trade and investment across the country. It played a significant role in shaping the modern American economy, characterized by interdependence and the flow of goods, services, and capital between states.
These additional points should help you expand on the positive aspects of the new market economy and how it shaped American values and the current economy.