2. Antebellum Economic Developments

3. I.Productivity Factors Behind the “Industrial Revolution” and the “Market Revolution”

4. A) Abundant Natural Resources Lumber

5. B) Technological Innovations Eli Whitney Cotton Gin & Interchangeable Parts

6. Robert Fulton & the Steamboat

7. Ex: John Deere & the Steel Plow

8. Ex: Cyrus McCormick & the Mechanical Reaper

9. Ex: Samuel Slater & the Factory System

10. Ex: Samuel Morse & the Telegraph

11. C) Transportation Developments

12. Rivers, Canals & Turnpikes Main Transport Arteries Before 1850

13. Railroads Begins To Dominate Transport By 1860

14. D) Abundant (Cheap) Labor

16. E) Government Financial & Political Support For Economic Growth Easy Credit (State Banks & B.U.S.) Protective Tariffs “Common Wealth” Laws (ex: Limited Liability & Eminent Domain) “Laissez-Faire” Labor Regulation

17. II. The Industrial & Market Revolutions Increase Political Sectionalism

18. New England Textile Mill

19. “King Cotton” in the South

20. Foodstuffs in the West

21. “Regional Specialization” Leads to “Comparative Advantage”

22. III. Social Impacts of Economic Changes

23. Urbanization mainly in the North

24. “Outwork System” Replaced by “Factory System” & “Division of Labor”

25. American Urbanization Example: Lowell, Mass. “Model” Factory Town??

26. Increase in Child & Female Labor

27. Growing Inequality Leads to: “Wage Slaves” Loss of Individual Craftsmanship

28. Journeymen Artisans Lose Status Despite Unionization Efforts

29. “Labor Theory of Value” Loses to the efficiency of the Factory System

30. Nativism Grows as immigrants come seeking jobs and face backlash ex: “Know Nothing” Party

31. Anti-Catholic Cartoon