The promotion of new financial systems was one way the manufacturing system's expansion had an impact on economic structures. For instance, the introduction of industrial systems provided substantial support for Adam Smith's laissez-faire or capitalism economic system.
The Industrial Revolution's factory system had a lot of beneficial consequences on the economy. In addition to raising wages, it made it possible to create more things more quickly.
Most of the world's goods and resources were owned or purchased by industrialized nations. Control over global raw materials and commodities, including copper, cotton, and palm oil, allowed industrialized countries to increase industrial production and take over the world economy.
As a result, there was a yearning for economic change in the mercantilist practices that eventually became the American economic system.
To know more about industrialization, refer:
https://brainly.com/question/14648490
#SPJ4
