How did these changes impact the economy? How did they affect the allocation of wealth throughout Europe? (2nd Industrial Revolution)

The changes of the 2nd Industrial Revolution impacted the world economy and affected the distribution of wealth in Europe in the sense of instituting new relations of consumption and work.

Some of the main changes were:

Use of iron and steel.

Use of new energy sources such as coal and oil.

Strengthening industrialization.

Creation of new means of transport, such as a locomotive and steamship.

Creation of new means of communication, such as radio and telegraph.

Such technological changes therefore contributed to a great development in all spheres of society, which impacted the wider distribution of wealth across Europe.

There was greater production and distribution of food, development of the economy, international trade and political changes that generated greater economic power in Europe.

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