Summary
The year 1850 marked the transition to the Second Industrial Revolution, characterized by the widespread application of technologies like electric lighting, radio, telephone, and automobiles. This period introduced modern management practices and science-based entrepreneurship, emphasizing distributed networks and global markets. While the revolution brought advancements, it also led to consequences like the current climate crisis, as discussed by Robert Gordon.
Transition from First to Second Industrial Revolution
The year 1850 marked a transition from the period of invention, incubation, and experimentation of technologies to their widespread application, including mechanization, steam power, new metallurgy, and new production methods.
Emergence of Second Industrial Revolution
A second wave of industrial technologies emerged, introducing electric lighting, radio, telephone, home appliances, television, automobiles, airplanes, and ecosystems supporting international travel.
Technological Advancements of Second Industrial Revolution
Introduction of electric lighting, radio, telephone, home appliances, television, automobiles, airplanes, Haber–Bosch synthesis for artificial fertilizer, and modern management practices.
Impact on Management Practices
The Second Industrial Revolution led to modern management practices, with Harvard offering the first professional management degree in 1908 and a shift to science-based entrepreneurship. It emphasized distributed networks, scale, mass consumption, global markets, and mobility for producers and consumers.
Contribution to Climate Crisis
The Second Industrial Revolution contributed significantly to advancements but also led to consequences like the current climate crisis, as highlighted by Robert Gordon.
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