What were the causes and effects of the 2nd industrial revolution

The main causes of the second industrial revolution were due to: natural resources, abundant labor supply, strong government policy, new sources of power, railroads and American inventors and inventions. This caused a greater standard of living, but also caused a major incline in unemployment due to machines taking the jobs of actual humans.

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- "bill clinton ( the 42nd u.s. president, served in office from by low unemployment, declining crime rates and a budget surplus. during clinton's second term, the u.s. economy was healthy, unemployment was low and the nation experienced a major technology boom and the rise of the internet."

answer: capitalism and socialism are formal economies. the major differences between capitalism and socialism revolve around the role of the government and equality of economics. capitalism affords economic freedom, consumer choice, and economic growth.

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