Second Industrial Revolution & Imperialism: Defining Eras
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The Second Industrial Revolution (1870-1914)
Key Developments and Impacts
The Second Industrial Revolution, spanning from 1870 to 1914, marked a period of unprecedented growth and transformation. This era saw significant advancements that fueled a dramatic increase in production:
- New Sources of Finance: The emergence of institutions like banks, joint-stock companies, and stock exchanges revolutionized capital formation.
- Innovative Business Structures: New organizational models such as cartels, trusts, and holding companies reshaped industries.
- Technological Breakthroughs: Continuous technological advancements drove efficiency and innovation.
- New Energy Sources: The widespread adoption of oil and electricity powered new machinery and industries.
- Emergence