The transition from the first to second global economy was gradual and involved the improvement of cooperation between races and nations in the development of a better economic model. Many changes, ranging from the abolition of coerced labor to the development of more effective political structures, characterized the growth of the second global economy. It was evident that the use of free laborers lead to increases in productivity; in addition, the wars of freedom had a detrimental effect on the supply of labor, more than the positive impact it had on actual freedom.The abolition of coerced labor further boosted the degree of unity in the second global as it introduced a new bleed of consumers, hence, the creation of an interdependent economy and society.
Innovation was a major point of intersection in the growth of the second global economy. It started with the development of improved sources of energy, primarily coal, followed by advanced forms such as electricity, which transitioned the model of production. In addition, the innovation of automobiles powered by a combustion engine came with a new age of social and economic integration(Lichtenstein 74). Ideally, innovation tended to support the current abilities while promoting the expansion of the spectrum to introduce new technologies such as telephone and typesetting, which stirred the growth of other industries such as media.
Leadership played a major role in bringing the second global economy together. First, there was the growth of bigger and more effective governance structures that favored more social and economic interaction. The influence of the elites on governance also declined significantly and instead, more ‘practical’ people held leadership positions; the elites had a highly biased view on the society, especially the lower class and the bourgeoisie. For the second global economy to come together, it was critical that a better stance oneducation, social integration, and the economy was necessary and, it could only be attained under a new bleed of leaders.
Lichtenstein, Nelson. American Capitalism. Philadelphia: University of Pennsylvania Press, 2006. Print.