Final answer:
The 1st Industrial Revolution occurred in the late 18th and early 19th centuries, while the 2nd Industrial Revolution took place from the second half of the 19th century until the start of World War I. Both revolutions had significant impacts on political and economic systems.
Step-by-step explanation:
The 1st Industrial Revolution occurred in the late 18th and early 19th centuries, while the 2nd Industrial Revolution took place from the second half of the 19th century until the start of World War I. Both revolutions had significant impacts on political and economic systems.
In terms of political impacts, both revolutions led to shifts in power and the rise of new ideologies. During the 1st Industrial Revolution, the bourgeoisie emerged as a new class of wealthy individuals, leading to the rise of capitalism and the growth of liberalism. In contrast, the 2nd Industrial Revolution saw the rise of socialist and communist ideologies as workers began to demand better working conditions and fairer distribution of wealth.
Economically, the 1st Industrial Revolution was characterized by the mechanization of production, which led to the growth of factories and mass production. It also saw the development of new transportation systems, such as the steam engine and the railroad, which facilitated trade and economic growth. The 2nd Industrial Revolution built upon these advancements and brought about further innovations. It was characterized by the introduction of electricity, the expansion of the steel industry, and the rise of new industries such as chemicals and automobiles. The 2nd Industrial Revolution also saw the formation of large corporations and the concentration of wealth in the hands of a few.