How did a steam engine affect the economy?

The steam engine significantly transformed the economy by facilitating the Industrial Revolution, enabling faster and more efficient production processes. It enhanced transportation through steam-powered locomotives and ships, reducing costs and increasing the movement of goods and raw materials. This innovation led to the growth of industries, urbanization, and the creation of new jobs, ultimately boosting overall economic productivity and expanding markets. As a result, it laid the foundation for modern economic systems and globalization.