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Chapter 8:i
In a very
basic way
water
transformed
the young
economy of
the U.S.
Manufacturing-the making of
products by machinery.
In 1813 group of
businessmen led by
a Boston merchant
named Francis
Cabot Lowell built a
factory in Waltham,
Mass. to
manufacture
textiles.
Todays concept of
capitalism> The federal
gov. and state gov. now
play important roles in
the economy, such as
regulating business to
protect workers and
consumers. Yet free
enterprise remains the
heart of the American
economy and the
foundation of American
prosperity.
For most
Americans,
going to work
in the 1700s
generally meant
working in the
home or around
the farm.