2. The Second Industrial Revolution 1850-1914

3. New Technologies Steel (Bessemer) electricity light bulb chemicals (various applications) internal combustion engine (auto) airplane canals (Suez, Panama) High speed printing press discovery of oil radio telegraph telephone standardized time and time zones (1886)

4. Differences w/1st Indust. Rev. Larger scale and scope (more nations) closer collaboration of theoretical science and its application in technology movement toward mass production (factories and assembly line)—Ford and Taylorism (scientific management)

5. Economic Cycles, 1873-96 Boom/bust production/demand glut of agricultural products (Australia, North America) response—cartels, vertical integration, modern corporations, tariffs

6. Relation of State to Economy Decline of Liberalism high tariffs and protectionism social welfare begins government regulation of industry public health movements

7. Impact--The Global Economy shifts BOP worldwide—imperialism urbanization—problems and reforms mass society—new classes & tensions social sciences emerge rise of socialist & workers’ movements consumerism—Dept. Stores, catalogs global economic integration