From Market-Places to a Market Economy
The Transformation of Rural Massachusetts, 1750-1850
Rothenberg forcefully disputes recent historical interpretations of the preindustrial New England village as a so-called moral economy, insulated from the exigencies of the market. She discovers the simultaneous emergence of markets for farm produce, farm labor, and rural capital. Then, linking market integration to labor productivity growth and agricultural improvement, she confirms that market-led growth in Massachusetts agriculture lay at the origins of the American industrial revolution.