The Second Industrial Revolution had a wide range outcomes, depending on different kinds of people. For the upper-class, including Captains of Industry and the newly developed leisure class, the majority of the outcomes were positive. The working class, for whom the Industrial revolution ruined many of the things that they once held valuable, and the New Immigrants ultimately were affected with many negative outcomes.
the rise of the Second Industrial Revolution was directly proportional to the rise of the Leisure class in Europe. The Second Industrial Revolution made many parts of daily life easier. Things were cheaper, better, faster, and more efficient. As a result, a new class was formed - the leisure class. Many members of the leisure class had inherited money early on from past relatives, and therefore had no incentives to work for a living. Ones time could then be spent on more frivolous matters, such as fretting over what watch to wear or what cane to carry. People’s outward appearance became a major priority. Thorstein Veblen, interested in the arrival of the leisure class, wrote, “our apparel is always in evidence and affords an indication of our pecuniary standing to all observers at the first glance” (Doc I). The leisure class was able to live in luxury as a result of all the enhancements of daily life caused by the Second Industrial Revolution.
As a result of the Second Industrial Revolution, there were numerous ‘Captains of Industry’ who made outlandish amounts of money through either vertical or horizontal integration. Some of these captains include Cornelius Vanderbilt, a railroad man, John Rockefeller, an oil man, Andrew Carnegie, a steel man, and JP Morgan, a rail and bank man. These men benefitted, perhaps more than any other group of people, from the Second Industrial Revolution, and ultimately made fortunes that are still in effect to this day.
Many of the captains of...