From: Liz Horan
Date: 4/27/00
Time: 3:05:02 PM
Remote Name: 205.188.192.177
A market economy is an economy that operates by voluntary exchange in a free market and is not planned or controlled by a central authority; a capitalistic economy. In the American market, money is used as the exchange for goods. When the market economy developed in the early 1800’s it paved the way for banking, loans, and industrialization. However, this movement left many behind. Since white men were the only people at the time that could obtain American money, it left immigrants, women, blacks, and Native Americans with now way to purchase anything. Trade, which was now a thing of the past was the only way these people new how to make transaction. The Native Americans heavily relied on trade, and when the market economy was established, the could not participate. Immigrants did not know how the economy worked, nor did they have American money upon their arrival. Blacks were slaves, and were not paid in monetary form, therefore they had no purchasing power either. At this time, women became fed up with their lack of ability to participate in the economy, and became large parts of the industrialization process. Working in the cities in factories like textile mills, women were now making money to spend. With the dawn of the market economy and industrialization, consumerism would eventually devour the United States.