How did the market revolution transform America

First, we should define what historians mean by the "market revolution." This phrase, which emerged in the 1980s, is used to describe the economic reorientation of the United States in the first half of the nineteenth century. During this period, the nation developed from a collection of local economies in which farmers and artisans mostly sold and exchanged goods within their own geographical environments to an emerging industrial economy whose participants were economically oriented toward distant markets. This in itself was a remarkable transformation, but the market revolution entailed many other profound changes.
While most Americans were still farmers throughout the nineteenth century, the manufacturing of many goods shifted from artisans to mills and factories. In these new facilities goods were churned out cheaply and with increasing degrees of efficiency. The manufacturing of textiles in particular was transformed by the factory system during the early nineteenth century.
Transportation networks emerged that connected American farmers and manufacturers to markets within the United States and the world. American rivers were connected by canals, some of which were constructed with government funds, and railroads began to emerge in the antebellum period. New technologies like the steamboat made it possible to transport goods far more efficiently.
The expansion of the economy led to territorial expansion, especially in the area known then as the Southwest—from Alabama to Texas. This went hand-in-hand with the expansion of slavery, as enslaved people were purchased in huge numbers to work on cotton plantations in the Deep South. A massive internal slave trade developed in which hundreds of thousands of enslaved people in locations such as Virginia, Maryland, and North Carolina were separated from their families and sold southward to labor on these plantations.
The market revolution transformed the nation in many other ways. The new commercial economy, based on credit, was subject to rapid "boom" and "bust" periods, and frequent financial panics led to depressions in 1819, 1837, and 1857. Skilled workers lost some of their cherished autonomy as their jobs were subjected to increased mechanization and specialization. Urban areas like New York City grew dramatically. This atmosphere of rapid transformation is an important context for both the Second Great Awakening and the antebellum reform movements.
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