Final answer:
The laissez-faire policies during the Second Industrial Revolution facilitated economic growth, the accumulation of capital, and innovations, while also raising the quality of life through the availability of consumable goods.
Step-by-step explanation:
A benefit of the laissez-faire policies during the Second Industrial Revolution was substantial economic growth. With little government interference, businesses could operate more freely, which facilitated the accumulation of capital and innovations driven by market demands. This environment allowed for the emergence of the Industrial Revolution, which produced consumable goods at a scale previously unseen, thereby elevating the quality of life in industrialized nations.
The industrialization and mechanization promoted by laissez-faire policies, although creating wealth for business owners, did come at a cost. Workers in industrialized settings found themselves in long hours of labor under often dangerous conditions to afford the new consumer goods made cheaper by industrial production. However, despite the drawbacks, the freedoms associated with laissez-faire economics allowed for an unprecedented level of economic growth and the rise of new industries.