Question

explain the economic transformation:From agricultural society in early 1800s to market and industrial urban society over 1800s and early 1900s (including the Great Depression and aftermath)

Answer 1

The economic transformation from an agricultural society to a market and industrial urban society occurred over the 19th and early 20th centuries. This transformation was driven by the Industrial Revolution, the emergence of a market-based economy, urbanization, the effects of the Great Depression, and its aftermath.

Step-by-step explanation:

The economic transformation from an agricultural society to a market and industrial urban society occurred over the 19th and early 20th centuries, including the Great Depression and its aftermath. This transformation was driven by several major factors:

1. Industrial Revolution: The development of new technologies and mechanization of production processes led to the rise of factories and the shift from manual labor to machine-based manufacturing. This resulted in increased productivity and the growth of urban areas as people moved from rural agricultural communities to work in factories.
2. Market Revolution: The emergence of a market-based economy replaced traditional systems of production and exchange. Supply, demand, and price became more important than social relationships and customary practices. People began to buy and sell goods in the market economy rather than relying solely on home production.
3. Urbanization: The growth of industrialization led to rapid urbanization as people migrated from rural areas to cities in search of employment opportunities in factories and industries. This mass migration resulted in the formation of industrial urban societies.
4. Effects of Great Depression: The Great Depression of the 1930s had a profound impact on the economy, causing widespread unemployment, poverty, and a decline in industrial production. Government intervention and policies such as the New Deal were implemented to stimulate economic recovery and regulate the market.
5. Aftermath of Great Depression: The aftermath of the Great Depression saw the continued growth of industrialization, but with increased government intervention in economic affairs. Social welfare programs, labor rights, and regulations were established to address the inequalities and social issues that arose during the economic crisis.

The economic transformation from an agricultural society to a market and industrial urban society had far-reaching implications, including changes in work, living conditions, social structures, and government policies.