The 2nd Industrial Revolution
What was it?
The Second Industrial Revolution was a time period from 1870 to 1914 during which "unprecedented urbanization and rapid territorial expansion" occurred.
New inventions
new energy sources
New forms of transportation
electricity and oil
electric railway, metro tram, explosion motor, and the horseless carriage
new forms of communication
telegraphy and telephone
Economic impact
Greater concentration of wealth in the hands of
industrial.
internationalization of the market
concentration of companies in large cities
the prices of goods fell dramatically.
industrialization of cities
People lost money and the unemployment rate went through the roof.
Social impacts
Decrease in craftsmanship, increase in manufactured production. Creation of companies with salaried workers, use of child labor.
Creation of workers unions to defend
interests of the working class
Migration of people from the countryside to the cities, leading to overcrowding problems in unsanitary conditions.
Urbanization increased rapidly