Market Revolution In The United States

The American economy of the late 1700s mirrored the apprenticeship-based economies of its European counterparts. The majority of the poor populace worked on small family farms or were artisans who painstakingly crafted goods by hand. However, at the beginning of the 19th century, the market revolution began in the United States, and with it, the American economy was changed forever. Commoners moved from farms to factories, efficiency became the top priority, and a cash-based economy emerged. Whether it was through mass production, or paying immigrant or child laborers meagerly, this new industrialized economy was far more efficient than the former agrarian economic tradition. Economic crises like the Panic of 1873 became a destabilizing force
“Wages in the food sector also fell significantly, from an average of $4.10 per week in 1860 to $1.98 twenty years later”. The colony couldn’t keep up and declared its business “not sustainable”. Early utopian societies couldn't adapt to the new realities of mass production ushered in by the market revolution. Their traditional artisan methods of production were no match for the economies of scale and the efficiency and volume of new factories. Utopian societies were forced to disband as they were outcompeted in all industries, unable to match the low prices and high volumes of mass-produced goods. Early utopian communities also struggled to keep up with the increase in wages caused by the market revolution. While artisan craftsmen were replaced with unskilled immigrant laborers who demanded less compensation, other occupations experienced an increase in wages during the market revolution. Mechanics and other technical occupations were greatly valued by corporations for their expertise and were compensated
The North American Phalanx wasn’t the only example of increased wages impacting utopian communities. A member of the Brentwood utopian community Modern Times, recalled that “more of the skilled workers of Modern Times were beginning to be disinclined to trade their skills at par without financial gain", and so worked outside [the commune]”. It made more sense for workers to labor outside communes to earn better wages and enjoy the higher standard of living that these wages provided. The incessant poaching of skilled labor from communes by corporations restricted their ability to manufacture more complex items and ultimately contributed to their demise. The utopian communities of the early 19th century were ultimately unable to withstand the onslaught of the economic disruption caused by the market revolution. Economic Panics created an unstable and unforgiving market for utopian societies, leaving them at the mercy of the broader