Final answer:
The Second Industrial Revolution significantly transformed economies, creating wealth for industrialists and expanding the middle class, while workers faced tough conditions, leading to labor movements. Socially, urbanization changed family structures and women entered the workforce in new roles, although gender inequality persisted.
Step-by-step explanation:
The Second Industrial Revolution, which began in the latter part of the 19th century, had profound social and economic impacts on society. Economically, there was a massive expansion in industries such as steel, oil, and electricity, which led to the growth of monopolies and trusts. The rise of big business led to the development of a new class of wealthy industrialists and a burgeoning middle class. Conversely, the working class faced long hours, low wages, and poor working conditions, contributing to the rise of labor unions and calls for social reform.
From a social standpoint, the Second Industrial Revolution significantly impacted class and gender dynamics. The upper and expanding middle classes enjoyed increased leisure and material comforts. For women, the era brought mixed outcomes; while the working conditions were often harsh, industrialization also opened up new job opportunities beyond domestic service and agrarian life. As cities grew due to urbanization, issues such as overcrowding and sanitation became pressing concerns, but city life also offered educational and cultural opportunities not found in rural areas.
The era also led to shifts in family dynamics. With more individuals working in factories rather than on farms, the structure and functions of the family changed. The concept of a separate 'domestic' sphere for women slowly began to erode as economic necessity pushed many women into the workforce alongside men. However, gender roles remained rigid in many ways, with women generally receiving lower pay and fewer opportunities for advancement than their male counterparts.